What are the real property laws of New York?

Short Title; Definitions Trust Indentures and Interests Therein Recording Instruments Affecting Real Property Prohibition and Disclosure of Private Transfer Fee Obligations

How does the commercial and Real Estate Litigation Division work?

In the Commercial And Real Estate Litigation Division, Summer Honors Program interns work pursuant to a student practice order under the supervision of an attorney and defend lien cases and a variety of breach of contract and real estate actions brought against the City and its constituent agencies and entities.

Is the real estate market in New York good?

Many industry experts have been predicting a strong property appreciation in New York in 2021. 2021 is going to be a great one for property owners as the state still faces a long recovery ahead. Different business sectors have been opening up in different ways and at differing speeds with relaxing COVID-19 policies.

When does litigation arise under a commercial contract?

Whenever litigation arises under one of these contracts, Commercial And Real Estate Litigation attorneys represent the public agencies involved. Such litigation may take the form of plenary actions in State or Federal Court, Article 78 proceedings or proceedings before the Contract Dispute Resolution Board.

Where is commercial rent tax in New York City?

Commercial Rent Tax (CRT) This tax is charged to tenants who occupy or use a property for commercial activity in Manhattan, south of 96th Street. You are subject to the Commercial Rent Tax if you rent space in this area for any trade, business, profession, or commercial activity, and: it is located in the borough of Manhattan,…

Short Title; Definitions Trust Indentures and Interests Therein Recording Instruments Affecting Real Property Prohibition and Disclosure of Private Transfer Fee Obligations

What is the New York State real estate tax rate?

If the value is more than $500,000 the rate is 2.625%. In addition to those taxes previously imposed, beginning on July 1, 2019, certain conveyances of real property or interests therein, located in New York City, where the consideration for each conveyance is $2 million or more, are subject to new taxes under the New York State Tax Law.