SEIDEN & SCHEIN, P.C. is one of New York’s top law firms, providing skillful representation in the development, buying, selling, leasing and financing of real estate.

The New York State Legislature passed the 2021-2022 New York State budget, which amended Section 1401 of the New York State Tax Law (the “Tax Law Amendment”) to eliminate the requirement to “gross-up” the consideration payable by the buyer of a residential unit pursuant to a contract that requires the buyer to pay the New