Inside R&E Podcast

Corporate Transparency Act: Does it apply to you? On this episode of Inside R&E, Dave Lorenzo interviews R&E’s William Byers, a member of the firm and seasoned transactional attorney, who demystifies the Corporate Transparency Act (CTA). The CTA, enacted to combat money laundering and other illicit activities, mandates the disclosure of beneficial owners and controllers […]

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Industry Update: Cannabis Law Amendments

As announced by Rosenberg & Estis, P.C. earlier this week, the 2025 Budget Legislation signed into law by Governor Hochul on April 20, 2024 included major new and amended housing laws to reshape residential development and ownership in New York City and New York State. The same Budget Legislation also includes amendments to the New York […]

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NYC Metropolitan Area Sees 10% Increase in 2024 Area Median Income:Implications for Affordable Housing Regulations

The U.S. Department of Housing and Urban Development has just issued the 2024 Area Median Income numbers for the NYC Metropolitan Area (“AMI”) which show an approximate 10% increase over 2023 AMI numbers. AMI numbers are typically used by regulatory agencies to calculate the income limits and rents for affordable housing units. The NYC Department of […]

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Green Fast Track for City Housing

On March 20, 2024, the City Planning Commission formally adopted the Green Fast Track for Housing rule changes to reduce the burden of environmental review on new housing developments by shortening approval times and reducing costs for new housing projects. The plan is part of Mayor Adams’ “Get Stuff Built” initiative. Under the new rules, […]

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Governor Issues Proposals to Increase Housing Supply, Incentivize Conversions and Development

Governor Kathy Hochul has released five key legislative proposals to increase housing supply, incentivize conversions, and develop new multifamily housing with affordability requirements. The new tax incentive proposals are similar to previous proposals by the Governor but with minor and sometimes crucial changes. These proposals also delegate significant authority to the City of New York […]

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ICAP Deadlines Coming in Early 2025:Plan Your Commercial Project Now

The Industrial and Commercial Abatement Program (ICAP) provides a New York City property tax abatement for the construction or renovation of commercial, industrial, and certain mixed-use properties. In order to be eligible for these property tax benefits, property owners must adhere to the following deadlines (unless the ICAP law is renewed and extended):  Rosenberg & Estis, […]

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421-a Projects — NYC Housing At Risk Task Force (HART)

Can Help Expedite NYC Approvals In light of the looming 421-a(16) completion deadline of June 15, 2026, NYC has created a Housing At Risk Task Force (“HART”) to assist large housing projects. Qualifying projects include those with 100 or more dwelling units already vested for 421-a due to construction commencement on or before June 15, […]

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New Corporate Transparency Act Regulations to Take Effect January 1, 2024

The Corporate Transparency Act (“CTA”) takes effect as of January 1, 2024. This broad sweeping Federal Act is part of the Anti-Money Laundering Act of 2020 and will require many entities (“reporting companies”), not previously subject to reporting requirements, to now disclose certain direct and indirect beneficial owners, down to the individual level, along with […]

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DHCR Issues Guidance re: 2023 RSC Amendments

As we advised in a prior client email blast, DHCR recently adopted amendments to the Rent Stabilization Code (“the Amendments”) which became effective on November 8, 2023. DHCR has now issued various documents as guidance to the Amendments, including fact sheets, operational bulletins and an FAQ. Links are below. Among the guidance is Operational Bulletin 2023-3 (“OB […]

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NYC DOF Certification of Continuing Use Deadline January 5, 2024 for NFP Exemption, ICIP Exemption & ICAP Abatement

NFP, ICIP, & ICAP Renewals If you own or lease a NYC property that is currently receiving one of the following property tax benefits, please note that the NYC Department of Finance (DOF) renewal filing period has begun, and the online renewal portal is now open for: Not-For-Profit (NFP) tax exemption; Industrial and Commercial Incentive […]

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New NY Housing Laws: New Housing Finance Laws & J-51 Property Tax Abatement Program

On October 23, 2023, New York State Governor Hochul signed legislation relating to affordable housing finance and a new property tax abatement for alterations and improvements to New York City apartment buildings.  The affordable housing finance laws raise the bond capacity of NYC’s Housing Development Corporation, add new financing tools and also add new sections […]

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Rosenberg & Estis, P.C. Client Newsletter

The introductory message for Rosenberg & Estis, P.C.’s October 2023 Client Newsletter was provided by Michael E. Lefkowitz, Managing Member: “As I invite you to read our latest Client Newsletter, it is an absolute honor to announce that Rosenberg & Estis, P.C. was named among Crain’s 2023 ‘Best Places to Work in NYC.’ This achievement […]

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