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FACADE INSPECTION SAFETY PROGRAM INCREASES SCAFFOLDING ON NYC BUILDINGS

It seems like there is scaffolding around almost every building New York City building. New York City’s “Façade Inspection Safety Program” (FISP), previously known as Local Law 11, requires that owners of buildings with more than six stories above grade have their exterior walls and appurtenances inspected per a prescribed reporting schedule. Over time, exposure to

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ELEVATOR SAFETY DEADLINE APPROACHING!

New York City has adopted a new retroactive elevator safety code requirement for all existing automatic passenger, service and freight elevators in residential buildings. The deadline for compliance is rapidly approaching and unless this work is already scheduled, a building may have difficulty in meeting the deadline of January 1, 2020, after which point violations will

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NYC TO EMBARK ON AMBITIOUS PLAN TO FIGHT CLIMATE CHANGE

New York City is moving forward with the Climate Mobilization Act which was passed by city counsel in April of 2019. In an article dated May 2, 2019, Habitat Magazine reported that the act will require buildings in excess of 25,000 square feet to sharply reduce greenhouse gas emissions by installing solar panels or green

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CO-OP TITLE INSURANCE

Title insurance has been protecting purchasers from a loss in the event of a claim against real property for over a century. It protects property buyers against defects or problems with ownership of real estate when there is a transfer of real property. If a title dispute arises during or after a sale, the title insurance company may be responsible

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CHANGES TO NEW YORK STATE TRANSFER TAXES GO INTO EFFECT JULY 1, 2019

Effective July 1, 2019, as part of the New York State 2020 budget, the state Senate and Assembly will be adopted legislation increasing the real estate transfer tax on certain conveyances of real property. Prior to the new law, New York State imposed a transfer tax on conveyances of real property located in New York

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NEW YORK COURT RE-EXAMINES LEGAL FEES RECOVERY IN CO-OP LAWSUITS

In a recent article that appeared in Habitat Magazine, the Appellate Division of New York, determined that a proprietary lease which provides for the payment of legal fees to a co-op even regardless of the outcome of the lawsuit, is unenforceable. The result may have consequences for all cooperative corporation’s that bill back their shareholders.

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SENDING OUT MULTIPLE CONTRACTS OF SALE TO TWO OR MORE PURCHASERS*

© Eric P. Gonchar. All rights reserved. No portion of this article may be reproduced without the expressed written permission of Eric P. Gonchar. Can a seller send out multiple contracts of sale to two or more purchasers when selling an apartment or house? This has been a long standing debated issue in real estate

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CO-OP BOARD DENIALS: A GUIDELINE*

© Eric P. Gonchar. All rights reserved. No portion of this article may be reproduced without the expressed written permission of Eric P. Gonchar. Unfortunately, co-op Board discretionary decisions to approve or deny a Purchaser admission in a coop still exists. Purchasers still face denials for admission to coop buildings. There was a time when

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HIRING A MANAGING AGENT FOR YOUR CO-OP OR CONDO*

© Eric P. Gonchar. All rights reserved. No portion of this article may be reproduced without the expressed written permission of Eric P. Gonchar. Hiring or replacing a managing agent or management company for your co-op or condo can have a very significant impact on a building’s operations. Choosing the right management company can be

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NEW HEATING LAW CHANGES IN NYC*

© Eric P. Gonchar. All rights reserved. No portion of this article may be reproduced without the expressed written permission of Eric P. Gonchar. On October 1, 2017, a change to the NYC heating regulations will go into effect when the heating season begins. The new regulations require owners of buildings with central heating to

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