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What Is Title Insurance & Do You Need It?

As you navigate a commercial or residential real estate transaction for the first time a number of unfamiliar documents, agreements and pieces of paperwork are certain to cross your desk or arrive via email. Often, one part of real property purchases that isn’t fully understood by buyers and sellers in Long Island, particularly in a…

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Whose Job is it Anyway? Maintenance Questions in Commercial Leases

There are several disputes that continuously arise under a commercial lease. Without a doubt the most common are questions of rent payment, or more than likely nonpayment. However, closely following discrepancies over adequate and timely rent payment are questions of maintenance and improvements to the leased property. Time and again when a pipe bursts or…

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What Is a Mixed-Use Development and What Are the Benefits?

New York City is poised to have a massive new development up and open in 2018. Hudson Yards was first announced years ago and the groundbreaking took place in 2012, but a development of this size takes time. Now, the 960,000 square foot building, located at the corner of 30th Street and 10th Avenue in…

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5 Overlooked Clauses of a NY Residential Lease

When people move to Long Island or surrounding areas, there is a good chance that their first “home” will be a rental property. In fact, there is such high demand for rental property in Long Island, that the current vacancy rate is only 4%. What this means is a lot of people are viewing properties,…

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A Guide for First Time Homebuyers in Long Island

Buying your first home is an exciting adventure. There are open houses, showings, and late night conversations with loved ones over the many options. Then you find the perfect property, and it is a thrill to make an offer. Whether you fall in love with the first home you see or the thirtieth, the home…

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8 Title Defects that Could Delay Your Closing

There are few commercial real estate transactions that are finalized without the purchase of title insurance. In exchange for the premium payment, a title company insures the buyer’s title to the property. Typically, the insurance amount is up to the purchase price of the property. The reason most commercial purchasers, and a number of residential…

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Give & Take: The Basics of Real Property Easements in Long Island

Dealing with easements, right of ways, restrictive covenants, and other land use issues can be old hat for commercial developers in Long Island. However, residential property purchasers and first time real estate investors are often surprised by these permissions and restrictions. Many times, a buyer isn’t even aware of an easement until the property is…

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The Right Way to Handle a Commercial Tenant Eviction

Commercial landlords understandably struggle with the process of tenant eviction. Often, simply mentioning a lapse in rental payment or other contractual obligation feels confrontational. Evicting a commercial tenant can be even more difficult and unpleasant. It is not uncommon for landlords to receive pushback, frustration, and even anger from commercial tenants that face eviction. However,…

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How Do NY’s Short-Term Rental Laws Affect Your Summer Airbnb?

Summer brings a significant number of tourists to New York City and its boroughs. More visitors are finding their way to areas such as Brooklyn, Long Island, Williamsburg, Rutherford, and Yonkers thanks to the popular rental website Airbnb. However, this is the first summer New Yorkers are renting their real estate under the state’s ban…

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