What are the Changes in the Estate Tax Laws?

New legislation, called the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, was passed by the United States Congress on December 16, 2010 and signed into law by President Barack Obama on December 17, 2010, which affects federal estate taxes. A summary of the new law is as follows: As a temporary… [Read More]

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Should I Buy or Hold My Investment Property in an LLC?

Deciding what legal entity in which you buy and hold your real estate is important.  You should to consult with your financial and tax advisors along with your New York real estate attorney to figure out the right legal entity.  You should consider, among other things, the type investment property, the amount of equity and… [Read More]

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What is the Difference Between a Condo and a Coop?

Cooperative apartments (“coops”) differ from condominiums (“condos”) in several ways.  When you buy a coop, you buy stock in the corporation that owns the apartment building.  The building then “leases” the coop to the buyer under a long-term proprietary lease.  Coop owners pay monthly maintenance to the building corporation for items such as the expenses… [Read More]

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How to Buy a Condo, Coop or Real Estate in New York

Manhattan home ownership—whether a condo, coop, or townhouse—can provide you with many benefits, including, a long-term investment and tax advantages. Of course, a home is also a major financial commitment.  There are ways to avoid costly pitfalls that can strain your budget and your patience. At the time of the closing, you will have to… [Read More]

Tags: buying condo, buying coop, buying real estate, NY condo lawyer, NY coop lawyer, NY real estate attorney