This episode of Inside R&E, moderated by Dave Lorenzo, Founder of Exit Success Lab, features Richard Y. Im, a Member in R&E’s Litigation Department, and Jason C. Bergman, Vice President & Senior Underwriting Counsel at Benchmark Title Agency LLC. The attorneys share valuable insights on Deed-in-Lieu and its pros and cons for borrowers as well as lenders. They also discuss the various risks and considerations associated with Deeds-in-Lieu.

During the conversation, Richard and Jason talk to Dave about what a Deed in Lieu of Foreclosure is, how the process is initiated and elaborate on its benefits as well as drawbacks to both borrowers and lenders. Additionally, Richard and Jason also provide useful pointers on transfer taxes associated with a Deed in Lieu transaction, the risks associated with it for the title industry, and the resulting title requirements to guard against such risks. They also share their perspectives on why it is important to consult with an attorney when considering proceeding with a Deed in Lieu.

Richard Y. Im concentrates his practice on complex commercial litigation, with a particular focus on creditors' rights and real estate disputes. He has extensive experience in all aspects of real estate litigation including commercial foreclosures, lender liability claims, title issues, priority disputes, mechanic's liens, contract and joint venture disputes, construction claims, access agreements, brokerage matters and other issues. He also represents lenders, borrowers and investors in loan workouts, restructurings and modifications and the purchase and sale of distressed debt.

Jason C. Bergman has nearly two decades of experience in the real estate/title insurance industry. He has extensive experience in assessing and mitigating risk in complex transactions and ambiguous situations, and is recognized as an industry leader in insuring foreclosures and distressed assets. He is a A fellow of the American College of Mortgage Attorneys (ACMA) and was also awarded the CRE® credential by the Counselors of Real Estate.

For any questions related to this episode, contact Richard Y. Im at rim@rosenbergestis.com or (212) 551-8435. Jason C. Bergman can be reached at jbergman@benchmarkta.com or (516) 426-5670.

Click here to stream this episode, or view it here on YouTube.

In this episode of Inside R&E, Justin S. Weitzman, a Counsel in the firm's Litigation Department, invites Bill Weidner, Managing Member at KeepMyGas, to share valuable insights, statistics and more regarding the 1st 4-year cycle of LL152 and what law firms, building owners and property managers can expect in cycle 2 from 2024 to 2027.

During the conversation, Bill and Justin discuss the basics of Local Law 152, preparing for the cycle year, the process of getting inspected, deadlines, tenant access, documents and breaches, to get property and business owners to the finishing line with this compliance. Bill also provides various resources to educate and understand LL152 and keep up to date with it.

Justin Weitzman's litigation practice is diverse, representing entities and individuals (investors, partners, managers, and officers) in complex real estate ranging from commercial litigation matters involving partnership, joint venture, limited liability company and shareholder disputes, including direct and derivative claims. Weitzman also has significant experience in handling employment-related disputes and various complicated tort cases.

As the co-founder of KeepMyGas, LLC, Bill leads a top-tier consultancy specializing in compliance with NYC's Local Law 152 for Gas Piping Inspections. Bill is also the creator and host of the Realty Speak® Podcast, where since 2018, he has been sharing invaluable real estate insights with a vast network across the real estate, construction, and technology sectors.

For any questions related to this episode, contact Justin S. Weitzman at jweitzman@rosenbergestis.com or (212) 551-1261. Bill Weidner can be reached at Bill@keepmygas.nyc or (917) 232-8529.

Click here to stream this episode, or view it here on YouTube.

Real estate development, particularly in booming areas of New York and Florida, is directly impacted by federal immigration policies.

In this episode of Inside R&E, Michael A. Pensabene, R&E Litigation Member, invites a seasoned immigration attorney, Alexis S. Axelrad, Partner with Barst & Mukamal LLP, for a dynamic discussion revealing the many ways in which immigration laws change the scope of real estate development in major cities across the U.S.

Together they discuss recent legislation related to foreign national property ownership, along with investment programs like EB-5, which was responsible for the development of Hudson Yards, among other projects. While lawmakers prioritize national security with thorough vetting, these tightening immigration laws could slow down or halt much-needed development in key U.S. cities facing housing shortages.

Michael A. Pensabene’s practice spans all areas of commercial litigation, with a focus on joint venture and partnership disputes, contract and lease disputes, landlord/tenant litigation, construction issues and condo/coop disputes, as well as board representation of co-ops and condos. His experience affords him the judgment to evaluate the interests of the parties, and to know how and when to assert clients’ rights to achieve their objectives.

Alexis S. Axelrad maintains a dynamic corporate and family-based US immigration practice based out of New York City. She has been active in the American Immigration Lawyers Association (AILA) for over 25 years and currently serves as First Vice-President of AILA’s Executive Committee responsible for advancing the goals and mission of the organization.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. Alexis S. Axelrad can be reached at aaxelrad@barstlaw.com.

Click here to stream this episode.

In this episode of Inside R&E, Michael A. Pensabene, R&E Litigation Member, invites for the second time Tina Larsson, Co-Founder & CEO of The Folson Group, for a high-level discussion of some of New York City’s most substantial Local Laws introduced this year, detailing the ways in which these changes impact coop / condo owners from both a financial and legal perspective. Together Michael and Tina delve into new laws such as Local Law 126 (parking facilities), Local Law 88 (electric) and Local Law 111 (lead paint), among others.

Michael A. Pensabene’s practice spans all areas of commercial litigation, with a focus on joint venture and partnership disputes, contract and lease disputes, landlord/tenant litigation, construction issues and condo/coop disputes, as well as board representation of co-ops and condos. His experience affords him the judgment to evaluate the interests of the parties, and to know how and when to assert clients’ rights to achieve their objectives.

Tina Larsson is the powerhouse behind The Folson Group, New York City’s leading coop and condo consultant. Tina leveraged her analytical skills in the financial industry and helped her coop save $340,000, leading to the creation of The Folson Group. Tina holds a LEED Green Associate designation, is the author of Living the High Life, and is passionate about supporting boards to make their buildings safer, more sustainable, and more affordable.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. Tina Larsson can be reached by email at tina@thefolsongroup.com, or on LinkedIn, Instagram (@folsongrp) and YouTube (@folsongrp).

Click here to stream this episode, or view it at the following YouTube link: https://youtu.be/cveBcvtupeE

Michael and Tina’s previous podcast episode is available here: Aging Condo and Coop Buildings Struggling to Meet Tightening NYC Climate Regulations.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. Tina Larsson can be reached by email at tina@thefolsongroup.com, or on LinkedIn, Instagram (@folsongrp) and YouTube (@folsongrp).

Click here to stream this episode, or view it at the YouTube link: ttps://youtu.be/cveBcvtupeE

On this episode of Inside R&E, Dave Lorenzo interviews R&E’s Alex M. Estis, a Member with the firm’s Litigation Department, for a deep dive into the complexities of commercial guarantees - a pivotal area in Alex’s sophisticated commercial litigation portfolio.

During their conversation, Alex explores every aspect of commercial guarantees, discussing their critical role in landlord-tenant disputes and breach of contract cases, as well as transactional conflicts. He breaks down the nuances of real estate partnership disputes and brokerage commission actions, emphasizing how commercial guarantees often underpin these high-stakes scenarios.

With firsthand experience representing some of New York City’s largest commercial landlords, Alex provides a detailed analysis of strategic considerations and challenges associated with commercial guarantees, sharing real-world examples and practical tips - for both attorneys and business people alike - on navigating these complex legal instruments. Perhaps most significantly, Alex emphasizes the importance of drawing expertise from both litigators and transactional attorneys before negotiating a commercial lease or guarantee.

Alex handles all matters of general commercial litigation, including landlord-tenant disputes, breach of contract, transactional disputes, real estate partnership disputes, brokerage commission actions, holdover proceedings, ejectment proceedings, loft litigation, owner occupancy actions, co-op/condo disputes, matters before the New York City Office of Administrative Trials and Hearings, such as the Environmental Control Board and Department of Health as well as the New York City Criminal Court.

For questions related to this episode or on commercial guarantees, contact Alex M. Estis at aestis@rosenbergestis.com or (212) 551-1204.

On this episode of Inside R&E, Dave Lorenzo interviews R&E’s William Byers, a Member of the Firm and seasoned transactional attorney, who demystifies the Corporate Transparency Act (CTA). The CTA, enacted to combat money laundering and other illicit activities, mandates the disclosure of beneficial owners and controllers of companies.

Byers expertly navigates the nuances of this NEW AND challenging area of legislation and sheds light on its implications for business owners, explaining several aspects of the CTA’s provisions, including reporting requirements and exemptions. Byers also clarifies the complexities surrounding beneficial ownership, outlining the parameters for identifying beneficial owners and those with substantial control. Through real-world scenarios and meticulous analysis, this episode demonstrates the CTA’s impact on various business structures, from LLCs to partnerships.

With fines and penalties looming for non-compliance, Byers emphasizes the importance of timely and accurate reporting, while offering practical strategies for navigating the filing process, from securing FinCEN identifiers to updating information promptly. This episode also addresses privacy concerns, assuring listeners of the confidentiality of disclosed information.

As the deadline for compliance approaches, Byers equips listeners with the knowledge and resources to navigate this evolving regulatory landscape. By demystifying the Corporate Transparency Act, the episode empowers business owners to uphold transparency while safeguarding their interests in an ever-changing legal environment.

In this episode of Inside R&E, Michael A. Pensabene, an R&E litigation attorney with over two decades of experience, delves into the complexities of navigating insurance claims, particularly in the aftermath of a multitude of catastrophes across the country. Joined by Philip Maltaghati, Co-CEO of United Public Adjusters, they shed light on the crucial role that public adjusters play in ensuring fair settlements for policyholders, providing valuable insights into maximizing insurance claims and ultimately empowering policyholders to navigate challenging situations and secure rightful compensation for their losses.

Over the course of their discussion, Pensabene and Maltaghati delve into the various ways in which public adjusters advocate for policyholders throughout the claims process. Maltaghati shares knowledge on the intricate process of assessing damages, interpreting policies, and advocating for fair compensation, emphasizing the proactive approach taken by public adjusters in identifying damages, navigating policy complexities, and engaging with insurance companies to ensure fair treatment for clients. With real-life examples, Maltaghati illustrates the significant impact of their involvement in securing substantial settlements for clients, enabling them to rebuild and renovate properties effectively.

Michael A. Pensabene’s practice spans all areas of commercial litigation, with a focus on joint venture and partnership disputes, contract and lease disputes, landlord/tenant litigation, construction issues and condo/coop disputes, as well as board representation of co-ops and condos. His experience affords him the judgment to evaluate the interests of the parties, and to know how and when to assert clients’ rights to achieve their objectives.

Philip Maltaghati started his career in the real estate and insurance industry over 10 years ago. Handling over $100 million in large complex residential and commercial claims throughout his years at United Public Adjusters & Appraisers, Inc. (UPA), he has an unmatched dedication and understanding focusing on commercial and business owner claims, high-net worth clients, and waterfront properties. Maltaghati’s vast knowledge of the insurance process, interpretation of complex insurance policy language, construction cost estimating, personal property inventory/valuations, negotiations, and disaster recovery allows him to settle claims efficiently and quickly.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. With Offices in Manhattan, Queens, Long Island, Upstate NY, and California, contact Philip Maltaghati for claims assistance at 1-800-718-5677 (LOSS) or Philip@UnitedPublicAdjusters.com.

In this episode of Inside R&E, Michael A. Pensabene, R&E Litigation Member, invites Tina Larsson, Co-Founder & CEO of The Folson Group, for a comprehensive discussion of the structural, financial and operational issues facing New York City condominiums and cooperatives, including their struggle to meet the evolving NYC Local Laws (such as the recently-enacted LL 97, as well as LL 152, LL 126 and LL 11) which have aggressively tightened climate and safety regulations.

Their conversation provides advice to co-op and condo boards of aging buildings on ways to proactively approach building infrastructure and compliance with the new regulations, and even ways to reduce fines when compliance is not possible before deadlines. Michael and Tina stress the importance of being proactive concerning compliance with LL 97 (the Climate Mobilization Act), which imposes fines starting as early as 2024 that increase dramatically by 2030.

Michael and Tina also address LL 152, highlighting the complications building owners and managers will face when - for example - periodic inspections result in gas shutdowns, exposing the building to imposed abatements. When addressing compliance with any of these Local Laws, ultimately, Tina says, the longer you wait, the more costly it will be.

Michael A. Pensabene’s practice spans all areas of commercial litigation, with a focus on joint venture and partnership disputes, contract and lease disputes, landlord/tenant litigation, construction issues and condo/coop disputes, as well as board representation of co-ops and condos. His experience affords him the judgment to evaluate the interests of the parties, and to know how and when to assert clients' rights to achieve their objectives.

Tina Larsson is the powerhouse behind The Folson Group, New York City’s leading coop and condo consultant. Tina leveraged her analytical skills in the financial industry and was able to save her coop $340,000, leading to the creation of The Folson Group. Tina holds a LEED Green Associate designation, is the author of Living the High Life, and is passionate about supporting boards to make their buildings safer, more sustainable and more affordable.

For any questions related to this episode, contact Michael A. Pensabene at mpensabene@rosenbergestis.com or (212) 551-8406. Tina Larsson can be reached by email at tina@thefolsongroup.com, or on LinkedIn, Instagram (@folsongrp) and YouTube (@folsongrp).

About Rosenberg & Estis, P.C.

Founded in 1975, Rosenberg & Estis, P.C. is widely recognized as one of New York City’s pre-eminent real estate law firms. R&E provides full-service representation and advice in every aspect of real estate, from performing due diligence and evaluating financing, to handling joint ventures, acquisitions and leasing, construction and design team agreements, property tax exemptions and abatements, land use and zoning matters, Real Property Income & Expense (RPIE) filings, co-op and condo offering plan filings, distressed situations and bankruptcies, trust and estate planning, as well as the litigations and negotiations which sometimes ensue when deal-making. R&E’s wealth of experience in New York real estate makes it the ideal thought partner for owners, developers, not-for-profit corporations, educational institutions, sponsors, equity investors and lenders in both real estate transactions and in all court venues.

This is published by the law firm Rosenberg & Estis, P.C. It is not intended to provide legal advice or opinion. Such advice may only be given when related to specific fact situations that Rosenberg & Estis, P.C. has accepted an engagement as counsel to address. Prior results do not guarantee similar outcomes. ©2023 Rosenberg & Estis, P.C. | ATTORNEY ADVERTISING