BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M “Rentable square feet” (RSF) is a term commonly used in commercial real estate to denote the total area within a property that is available for rent, including both the usable space occupied by the tenant and a portion of the common areas. However, in the context […]
Category: Real Estate
NYC Real Estate Dispute Arbitration
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Arbitration is an alternative dispute resolution method commonly used in New York City (NYC) real estate disputes as an alternative to traditional litigation. It involves submitting the dispute to a neutral third party, called an arbitrator, who will make a binding decision after considering the evidence […]
NYC Condo Bylaws Legal Guide
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Condominium bylaws are a set of rules and regulations that govern the operation, management, and administration of a condominium building in New York City (NYC). They establish the framework for how the condo association functions, how unit owners interact, and how the building is maintained. Here’s […]
Legal Guide for NYC Condo Offering Plans
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M A New York City (NYC) condo offering plan is a crucial legal document that outlines important details about the condominium project, its units, common areas, financial aspects, and other relevant information for potential buyers. It is a complex document that requires careful review and understanding. Here’s […]
The legal pitfalls when conducting NYC Coop board meetings over the phone
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Conducting New York City (NYC) co-op board meetings over the phone can be convenient, especially when board members are not able to attend in person. However, there are potential legal pitfalls and considerations to keep in mind to ensure that these meetings are conducted in compliance […]
Overview of the New York City Rental Market for Luxury Residential Apartments
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M High Demand and High Prices: Luxury residential apartments in New York City have traditionally been in high demand due to the city’s status as a global financial and cultural hub. The demand for luxury rentals is driven by professionals, expatriates, and high-income individuals seeking premium […]
NYC Roof Contract Laws
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M When dealing with roof contracts in NYC, several legal considerations apply: Licensing and Permits: Contractors working on roofing projects in NYC are generally required to be licensed by the New York City Department of Buildings (DOB). Verify that the contractor you’re hiring holds a […]
A broad legal landscape with regards to the NYC real estate market
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Real Estate Transactions: Real estate transactions in NYC involve legal processes such as property sales, purchases, leases, and conveyances. Contracts are essential documents that outline the terms and conditions of these transactions. New York is a “caveat emptor” state, meaning buyers must conduct their […]
Security Deposit Regulations in NYC Commercial Leases
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Here’s a general overview: No Statutory Limit: Unlike residential leases, there is no statutory limit on the amount of security deposit a landlord can request for commercial leases in NYC. Landlords and tenants are generally free to negotiate the terms of the security deposit based […]
Dealing with a commercial tenant bankruptcy in NYC
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Consult Legal Professionals: Engage with legal professionals who specialize in bankruptcy and commercial real estate law. Bankruptcy proceedings are highly regulated, and it’s crucial to have legal guidance to navigate the process effectively. Review Lease Agreement: Thoroughly review the lease agreement to understand the […]