Latest Real Estate Legal News
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DHCR Adopted Amendments to the Rent Stabilization Code
January 10, 2014 – New York State Division of Housing and Community Renewal
Just off the presses from the NYS Legislature is the most widely comprehensive change to the New York City Rent Stabilization Code (“RSC”) in twenty years. These changes include, but are not limited to provisions and amendments: (1) for notice and information to first tenants upon deregulation and service of an “exit” rent registration identifying such apartments as now exempt from regulation explaining how the apartment became deregulated and how the rent was calculated; (2) for “preferential rents” and the subsequent charging of a legal rent; (3) requiring owners not to exceed the level of lawful rents; (4) relating to limitations on MCI and IAI increases; (5) requiring more detailed lease riders; (6) limitations and exceptions to the four year “look back” rule; (7) redefining harassment; (8) redefining a holdover tenant as a month-to-month instead of a deemed renewed bound to a full lease term; limiting amendments to annual rent registrations; and (9) clarifying filing requirements for Article 78 proceedings. The RSC Amendment Summary, the actual RSC Amendments, the Regulatory Impact Statement Summary, the Regulatory Impact Statement attached.
How to cope if rents are rising in your neighborhood
November 11, 2011 – Gary J. Wachtel quoted in Crain’s NY Business
– Written by Wendy Davis
“Even when a particular location might be able to command a higher rent than a business owner currently pays, landlords sometimes are willing to defer an increase for a year if a tenant is signing a long-term lease, said Gary Wachtel, a lawyer who specializes in real estate
Also, landlords might be open to keeping rent at the same or lower rates if small business owners are willing to personally guarantee the rent, Mr. Wachtel said. Doing so can offer some reassurance to landlords that even if the business fails, the landlords will still get income for the term of the lease. That strategy obviously can be very risky for entrepreneurs.”
“Landlord Is Relieved Of Mechanics Lien Filed Due To Tenant’s Nonpayment Of Contractor’s Fees For Materials And Services Rendered”
January 13, 2011 –
Enko Construction Corp. v. Eva Scrivo, Inc., Eva Scrivo Salon, Inc., Eva Scrivo, Arik Efros, 13th Street Entertainment, LLC, Bagatelle Holdings LLC, RDV Holdings LLC, Jarmco Holding Corp., Stewart & Sons, LLC, New York City Environmental Control Board, Blake Electric Contracting Co., Israel Discount Bank of New York, Board of Managers of The 50 Bond Street Condominium
New York Times
September 13, 2009
“Business Moves Home”
By Sarah Maslin Nir
“Landlords and co-op boards are very protective of the other tenants’ privacy, as well as protecting their buildings against people coming in and coming out without security,” said Gary J. Wachtel, a lawyer who specializes in landlord-tenant disputes.
Time Out NEW YORK
February 22-28, 2007
“Q & A section”
“The lease most likely says that the tenant is required to leave the apartment in broom-clean condition, with reasonable wear and tear accepted,” says real-estate lawyer Gary Wachtel.
Time Out NEW YORK
February 1-7, 2007
“Q & A section”
“The landlord is not entitled to enter the apartment without permission from the tenant,” says real-estate lawyer Gary Wachtel.