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New York state passed the Mental Hygiene Law in 1972, creating a broad legal framework to address the needs and rights of the mentally disabled and incapacitated, as well as public concerns. The NY Mental Hygiene Law was designed to help mentally disabled or otherwise incapacitated persons obtain individualized care, while still recognizing their right […]

Life insurance can be a key component in an estate plan. Whenever I think about this tool, the words that come to mind are security, liquidity, and non-probate. Let’s discuss how each of these benefits can play a role in an estate plan: In conclusion, life insurance can be a great tool in estate planning

We are very excited to be able to announce 3 new attorneys who have been added to the CPL team! Susannah Rosato joins our Commercial Real Estate group. Her practice has focused on representing institutional lenders in the origination, acquisition, and refinancing of real estate loans across multiple asset classes including CMBS loans to be

By Christian D. Curtis Back in June 2021, after fielding many calls from concerned clients, I hosted a Webinar regarding President Biden’s bold tax change proposals. These proposals would have made some profound changes in the taxation of trusts and estates, uprooting some century-old tax rules and creating potential phantom tax liabilities at death. Specifically,

WHAT IS IRC SECTION 1031? Section 1031 of the Internal Revenue Code (IRC) allows a taxpayer who owns investment or commercial property to exchange a relinquished property and defer paying capital gains taxes.  If the taxpayer acquires a like-kind replacement property to be held for investment or used in a business following the rules and

Vacant retail spaces across the city are being turned into makeshift warehouses by app-based grocery delivery companies — in potential violation of zoning rules, according to City Council members looking to crack down on the practice. Council Speaker Adrienne Adams and other members of the council wrote to administration officials last week asking for more enforcement

2020 was, of course, a historic downturn for New York City, but as that year came to an end, activity and transaction volume began to increase once again. This uptick in activity has continued through 2021 into 2022. The highlight of this recovery lies not in Manhattan but in the outer boroughs, specifically Brooklyn and Queens,

Harry Macklowe Reimagines a Downtown Manhattan Office Tower Macklowe Properties’ conversion of the landmarked One Wall Street into 566 condos represents the largest such conversion in NYC history BY TOM ACITELLI at Commercial Observer  Harry Macklowe has bet big before in New York. He built the nearly 70-story Metropolitan Tower condominium at 146 West 57th