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What factors should I consider before signing a commercial real estate lease?

As New York City prices continue to climb and real estate becomes sparser, developers are expanding outside the City.  Westchester County is the newest target for investors, attracting a flurry of new businesses, ranging from restaurants and stores to theaters and a brewery.  Several multi-million dollar projects will bring a host of new residents to Westchester. If you are a developer or entrepreneur looking to enter the Westchester market, consider some of the following factors you should weigh before signing a commercial real estate lease, as offered by our Staten Island real estate lawyers. 

One of the critical considerations for owners of investment property is the requirement to pay a capital gains tax upon the sale of the property. Given the advances real estate prices have made in recent years, such a tax payment could be sizable. There are ways to avoid these taxes, such as entering into what is referred to as a 1031 Exchange. Let’s take a look at some of the basics.

A Primer on 1031 Exchanges

Under Section 1031 of the Internal Revenue Code, the owner of an investment property can sell the property and use the proceeds to invest in another property without having to pay the capital gains tax, provided that all of applicable requirements of the Code are followed.

There may be a thief among us.

The Staten Island residential real estate boom has been spotlighted recently on our blog, but if the charges against a local man are proven to be true, it will have some residents saying "There goes the neighborhood!".

A Staten Island man has been "arrested and charged with securities fraud, mail fraud and wire fraud" in connection with an alleged real estate scam that targeted primarily the elderly.

Am I liable if I accidently damage a neighboring property?

During renovations, you may be opening up walls in your home, removing trees, repairing fencing, and the like.  It is possible that during renovations you could damage a neighboring property.  Falling trees, dust spreading to other apartments, and torn down fences are all potential scenarios in which you could be held accountable for the damages that you or your employees inflict on a nearby property.  Our

How do I update or change my will?

Life is always changing and ever evolving.  In your lifetime, you may marry, divorce, have children, welcome grandkids, switch careers, obtain more assets, and become close to some relatives or estranged from others.  All of these life changes will require that you update your will.  New Yorkers will be glad to hear that amending or even revoking your will can be accomplished with ease.  Our

Far too many individuals approach estate planning as a “once and done” situation, and merely draft up a will and leave it in drawer. A well designed estate plan, however, should consider inevitable changes that will occur during a person’s lifetime. Whether it’s getting married, have children, getting divorced, remarrying or retiring, it is crucial to keep wills, trusts and other estate planning documents updated. Similarly, it is important to ensure that beneficiary designations on retirement accounts are also up to date.

Types of Beneficiary Designations

There are two types of beneficiary designations: per-stirpes and per-capita.

Q: Why is the Staten Island real estate market so hot?

Staten Island residential real estate attorneys know firsthand that the local real estate market is booming particularly in the North Shore area of Staten Island. In fact, one of our partners, Kenneth A. Gonzalez, Esq.

For many individuals, buying a home is the single largest financial transaction they will engage in during their lifetime. While some may think that they got it alone, an experienced attorney can help to avoid any pitfalls and protect the buyer’s interests.

Although buyers are primarily concerned with the price and the location, there are are number of other considerations. This includes the condition of the home, negotiating the sales contract, resolving potential title issues, and arranging for financing. In short, not having proper legal representation can ultimately be a costly mistake.

Q: Why are Staten Island real estate values increasing?

Staten Island residential real estate values are soaring. We previously reported on how The New York Wheel project is anticipated to lure Manhattan tourists’ attention and money here. But there are many other reasons why Staten Island is really becoming the place to be for residents and businesses alike.

There are a number of objectives to estate planning, not the least of which are protecting your legacy and providing for your loved ones. At the same time, it is also important that you plan for type of medical treatment you should receive be in the event that an accident or illness leaves you mentally or physically incapacitated.   

What is a healthcare proxy?

A health care proxy is also referred to as a durable power of attorney for healthcare. This document allows you to designate someone you trust, such as a spouse, a parent, an adult child, or a close  friend, to make medical decisions according to your preferences. This person will act as your agent and coordinate your treatment with your doctor when you are not capable of making these decisions or speaking for yourself.

What estate planning tools should same-sex couples use to protect themselves and their family?