Blog: NYC Real Estate Insights

Understanding the Good Guy Guaranty in NYC Commercial Leases

2025-07-26 10:51 Understanding the Good Guy Guaranty in NYC Commercial Leases If you are negotiating a commercial lease in New York City, chances are you will come across a term called the Good Guy Guaranty. Despite its informal name, it carries significant legal and financial implications, particularly for small business owners, startups, and landlords throughout Manhattan and the surrounding boroughs. This article explains what a Good Guy Guaranty is, how it functions in commercial leasing in NYC, and what both landlords and tenants should watch for when negotiating this important lease term. ...

Unsold Shares in NYC Co-ops: What Buyers, Sellers, and Boards Need to Know

2025-07-20 18:30 Unsold Shares in NYC Co-ops: What Buyers, Sellers, and Boards Need to Know What Are Unsold Shares in a Co-op? In a New York City cooperative (co-op), each apartment is allocated a number of shares in the cooperative corporation. When a building converts from rental to cooperative ownership, the sponsor, typically the developer or original landlord, often retains ownership of some of these shares, especially those tied to units that were not sold during the initial offering. Unsold shares retain their status as long as the sponsor, or a purchaser using the unit solely for investm...

Understanding New York's Good Cause Eviction Law: What Tenants and Landlords Need to Know

2025-07-13 11:06 Understanding New York's Good Cause Eviction Law: What Tenants and Landlords Need to Know New York's newly enacted Good Cause Eviction Law (effective April 20, 2024) (“GCEL”) significantly changes the landscape for both tenants and landlords in unregulated housing. For the first time, many tenants in market-rate apartments now have protection against unjust evictions and excessive rent increases. In effect, the GCEL imposes rent-stabilization-like obligations on landlords, requiring them to renew leases unless they can demonstrate “good cause” for termination. This article breaks down the...

Buying a New Construction Condo in NYC: What You Must Know About Sponsor Sales

2025-06-29 11:37 Buying a New Construction Condo in NYC: What You Must Know About Sponsor Sales New construction condos offer the allure of modern design and luxury amenities, but buying directly from a sponsor in New York City comes with unique legal and financial complexities that do not arise in a typical closing. Whether you are a first-time buyer or an investor, it is essential to understand how sponsor sales differ from standard resale transactions. What Is a Sponsor Sale? A sponsor sale refers to the purchase of a condominium unit directly from the developer known as the “sp...

NYC Rent Stabilization vs. Rent Control: What Landlords and Investors Must Know

2025-06-22 22:03 NYC Rent Stabilization vs. Rent Control: What Landlords and Investors Must Know New York City’s rent regulation system is a critical consideration for landlords and real estate investors. Whether you are acquiring multifamily properties or managing existing assets, knowing the difference between rent-stabilized and rent-controlled apartments is essential for legal compliance, financial forecasting, and strategic planning. This guide breaks down both regulatory systems and highlights what owners need to know in 2025 and beyond. What Is Rent Stabilization in NYC? Re...

Navigating New York City’s Short-Term Rental Landscape: What Landlords and Investors Need to Know

2025-06-15 17:49 Navigating New York City’s Short-Term Rentals: What Landlords and Investors Need to Know New York City has dramatically reshaped its short-term rental market with the implementation of Local Law 18 (also known as the City’s Short-Term Rental Registration Law), significantly impacting landlords, real estate investors, and Airbnb hosts in NYC. Understanding the current short-term rental laws in New York City is critical for anyone looking to rent out residential property or invest in Airbnb-friendly real estate. What Is Local Law 18? Local Law 18, enacted in 2022 and enforced beginnin...

Co-op vs. Condo in NYC: Legal Differences and 2025 Trends Explained by an NYC Condo Lawyer

2025-05-26 22:00 Co-op vs. Condo in NYC: Legal Differences and 2025 Trends Explained by an NYC Condo Lawyer Navigating New York City real estate in 2025 takes more than just a keen eye for listings. It requires a firm understanding of the legal and financial distinctions between co-ops and condominiums. Whether you're a first-time buyer, investor, or seller, knowing these differences is crucial. 1. Legal Ownership: Co-op Shares vs. Condo Deed In a co-op, you're buying shares in a corporation that owns the entire building. These shares grant you a proprietary lease to occupy a specific unit. In a...

Condo vs. Townhouse in NYC: What’s the Difference for Homebuyers?

2025-05-25 15:15 Condo vs. Townhouse in NYC: What’s the Difference for Homebuyers? If you're considering buying property in New York City, you’ve likely encountered two common types of residential real estate: condominiums (condos) and townhouses. While both offer attractive benefits, understanding the legal and financial differences is essential—especially in a competitive market like NYC. As a real estate attorney in NYC, I often help buyers navigate the nuances of condo and townhouse ownership. Here’s a breakdown to help you make an informed decision. What Is a Condo in NYC? A condo is...

Raising Capital For Real Estate Deals: Understanding Securities Laws And The Role Of PPMs

2025-05-13 22:29 Raising Capital for Real Estate Deals: Understanding Securities Laws and the Role of PPMs Raising capital is the lifeblood of most real estate investment deals—especially in high-cost markets like New York City. But if you're bringing in money from friends, family, accredited investors, or even the public, you're likely dealing with securities—and that means you must comply with securities laws. Whether you're syndicating your first multifamily deal, structuring a TIC (tenancy in common), or launching a Reg A offering to scale your capital base, understanding the legal ...

Understanding the Residential Real Estate Closing Process in NYC

2025-04-28 22:43 Understanding the Residential Real Estate Closing Process in NYC Purchasing or selling a home in New York City is a major financial event, and the legal process can feel complex and fast-paced. Whether you are a first-time homebuyer or a seasoned investor, understanding the residential real estate closing process in NYC is essential for a smooth transaction. Here is a breakdown of what to expect from accepted offer to closing day. 1. Offer Accepted — But the Deal Isn’t Final Yet In New York, once an offer is accepted, the property is taken off the market. However, this is...

5 Legal Tips for Israeli Investors Buying Property in New York City

2025-04-28 22:00 5 Legal Tips for Israeli Investors Buying Property in New York City Investing in New York City real estate can be a smart move for Israeli investors — but navigating the legal landscape is very different from buying property in Israel. To ensure a smooth and successful transaction, here are five essential legal tips every Israeli investor should follow: 1. Hire a Real Estate Attorney Early In New York, attorneys play a central role in real estate transactions — much more so than in Israel. Your attorney will handle contract negotiation, due diligence, and the closing process. Tip: Ch...

New York Security Deposit Law: What Landlords And Tenants Must Know

2025-04-17 21:28 New York Security Deposit Law: What Landlords and Tenants Must Know Article 7 of New York State’s General Obligations Law (“GOL”) governs the treatment of security deposits in rental properties. For free-market rental units in New York, the most relevant sections are GOL § 7-103 and GOL § 7-108. These laws are designed to protect tenants and ensure proper handling of their deposits.

Elad michael,

Real Estate Lawyer

NYC Real Estate Attorney Insights, Legal Updates, and Investment Tips

Stay informed about New York City real estate laws, investment opportunities, and legal strategies with articles written by Elad Michael, NYC real estate attorney.