Elad michael,
Real Estate Lawyer
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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.
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...
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...
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.