It is with profound sadness that the Partners, Associates, Counsel and Staff of Stempel Bennett Claman & Hochberg, P.C. mourn the passing of one of our founding Partners, Richard L. Claman.
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Commercial real estate developers often turn to mezzanine debt or preferred equity financing to supplement traditional mortgage loans to finance the acquisition, construction and development of real property.
A catch phrase in the commercial real estate legal world provides that generally the party who controls (i.e., prepares the initial draft of) the governing document (e.g., lease, contract, etc.) has to 90% ‘won the battle’. This alludes to the fact that the document is principally drafted in favor, and to the benefit, of such drafting party, while the other party, if so inclined to spend time…
On September 13, 2019, Chapter 297 of the Laws of 2019, was enacted by the New York State Senate and Assembly amending Section 1409(a) of New York Tax Law and amending Section 11-2105 of the Administrative Code of the City of New York to add a new subdivision…
Governor Andrew Cuomo signed the Housing Stability and Tenant Protection Act of 2019 into law on June 14, 2019, which was amended on June 20, 2019, by a Chapter Amendment, to make certain technical corrections and was signed by the Governor on June 25, 2019 (collectively, the “HSTPA”)…