Ketanji Brown Jackson has been confirmed to the Supreme Court, leading the way for her to become the first Black woman to sit on the nation’s highest court in its 233 year history. Despite a divided senate, Jackson’s support from all democrats as well as three republicans — Susan Collins, Mitt Romney, and Lisa Murkowski
As part of Seiden & Schein’s ongoing commitment to creating and cultivating more affordable housing in New York City, we are honored to be working with our long-time client Slate Property Group to convert 37-05 30th Street, the Dutch House in Astoria, Queens to a “No Action” condominium, in which the residential section and commercial section are
Gov. Kathy Hochul Lays Out Replacement 421a (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal) Alvin Schein was interviewed by a reporter from The Real Deal for this article, which is about Governor Hochul’s proposal for a replacement for 421-a that includes a 40 year real estate tax exemption for 100% affordable
Seiden & Schein, P.C. is an industry leader in real estate development, including tax incentives, inclusionary housing and condominium/cooperative law, with extensive experience in the acquisition, sale and financing of real estate. We are the one-stop shop for all developers. https://newyorkyimby.com/2022/01/housing-lottery-launches-for-143-units-at-the-willoughby-at-196-willoughby-street-in-downtown-brooklyn.html
Seiden & Schein, P.C. is proud to have represented its long-time clients, the Domain Companies and the Vorea Group (in partnership with another long-time client, L+M Development Partners), on the acquisition of a 76,000 square foot development site in the Hunter’s Point neighborhood of Long Island City, located at 2-33 50th Avenue, in what was
Jay Seiden was quoted in The Real Deal article “Looming End of Tax Break Triggers Real Estate ‘Hunger Games.’” Read the article here.
As you may be aware, residential projects must commence construction not later than June 15, 2022 in order to vest under the current Affordable New York Housing Program. New information might improve your project’s ability to meet the program’s definition of “commencement”. If you have a project that is in danger of not being able to meet
The New York City residential real estate market has been heating up since the beginning of 2021. What are condominium and cooperative sponsors doing to keep that momentum going? Some sponsors are offering incentives to prospective purchasers––to induce them to buy apartments. Incentives may include Sponsor-paid common charges, real estate taxes, transfer taxes and/or mansion tax. Such incentive offers are either made to the general public (“Across-the-Board Incentives”) or arise through negotiations with individual purchasers.
(Getty, iStock/Illustration by Alexis Manrodt for The Real Deal) The unexpected announcement by HPD in January of this year that it was rescinding the term sheet for the Privately Financed Affordable Senior Housing Program (the “PFASH Term Sheet”), as of June 30, 2021, less than two years after its release, left many developers scrambling to
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
