Eric S. Orenstein

On Wednesday, September 25, the City Planning Commission adopted a sweeping set of zoning text amendments aimed at addressing the city’s housing crisis. Dubbed “City of Yes for Housing Opportunity,” this proposal could significantly impact development potential across all five boroughs. The proposal now heads to the City Council for final approval, where it faces…

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On this episode of Inside R&E, Dave Lorenzo interviews R&E’s Alex M. Estis, a Member with the firm’s Litigation Department, for a deep dive into the complexities of commercial guarantees – a pivotal area in Alex’s sophisticated commercial litigation portfolio. During their conversation, Alex explores every aspect of commercial guarantees, discussing their critical role in…

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NYC Department of Finance Final Property Tax Assessment Roll The NYC Department of Finance published the fiscal year 2024/25 final property tax assessment roll on May 25, 2024. Tentative RollDOF published the 2024/25 tentative property tax assessment roll on January 15, 2024. From the May 25, 2023, final assessment roll for tax year 2023/24 to…

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Meet the new New York Development Incentives: 421-a, 485-x and 467-m Join R&E Member Daniel M. Bernstein and R&E Counsel Nick DiLorenzo on May 9, 2024 from 2:00pm – 3:30pm for a comprehensive analysis of the newly passed housing incentive laws. Take advantage of this opportunity to learn more about how these newly passed laws will…

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NYC Property Tax Assessed Values Increase for 2024 The NYC Department of Finance (DOF) released the tax year 2024/25 tentative assessment roll on January 16, 2024. The Tax Commission application filing deadline to protest assessed values is March 1, 2024. DOF will use these values to compute taxes due July 1, 2024. To find your…

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As we previously advised, on December 22, 2023, Governor Hochul signed S2980C, related to a series of housing issues, and subject to a negotiated chapter amendment to be passed by the Legislature during the legislative session, which began on January 3, 2024. On January 4, 2024, the NYS Assembly introduced the proposed chapter amendment, which…

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As we advised in previous email blasts, last summer, the New York State Legislature passed two bills that sought to significantly impact rent stabilized properties: NYS Senate bills S2943B and S2980C. S2943B sought to reverse the protections provided by the Court of Appeals in the Regina decision with respect to rent calculations and record retention.…

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We are writing to inform you about the new J-51 property tax abatement program. The bill was signed into law on December 18, 2024. This J-51 program provides potential property tax savings for eligible buildings in New York City that meet certain requirements. Major Eligibility Requirements:  • Eligible Construction: Alterations or improvements to an eligible…

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Decoding Local Law 97: Owners and OperatorsNavigating NYC’s Green Future In this episode of Inside R&E, Michael T. Carr, R&E Litigation Member, re-examines the current state of Local Law 97 with Jac Zadrima and MacKenzie Forsberg, Co-Founders of Genesis Realty Group LLC, as the New York City Department of Buildings continues to unveil details surrounding…

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The Residential Brokerage Process in NYC:Adapting from the Pandemic, Purchasing Trends and More  In this episode of Inside R&E, Adam R. Sanders, Member in R&E’s Transactional Department, invites Nicole Hay, Co-Founder and Leader of Compass’s Hay and Holt Team, for a discussion on the residential brokerage process across prominent and emerging Manhattan neighborhoods including Hudson…

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Estate Planning for Real Estate Owners:Opportunities for Proactive Planning In this episode of Inside R&E, Theodore (Ted) Metzger, Member & Head of the firm’s Trusts & Estates Department, provides a comprehensive overview of the many ways in which trust & estate planning goes hand-in-hand with real estate representation. With 30-plus years of experience guiding clients…

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INSIDE R&E PODCAST State of the New York City Residential Market & Forecast:Mixed-Use Developments Enticing Buyers Despite Interest Rates In this episode of Inside R&E, Adam R. Sanders, Member in R&E’s Transactional Department, discusses the state of the residential real estate market in New York City with Stephen Lascher, Sales Manager at Wells Fargo. Together…

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