New York RealEstateRama

June 30, 2011 - (RealEstateRama) -- The New York State Senate today passed historic property tax relief legislation that enacts a cap on the growth of local property taxes. The bill (S.5856), sponsored by Senate Majority Leader Dean G. Skelos, will cap school and local government taxes to less than two percent or the Consumer Price Index (CPI), whichever is lower. Mandate relief is also included, with $127 million in savings to local governments, in addition to the creation of a Mandate Relief Council to identify and repeal unsound, unduly burdensome laws and regulations

NEW YORK, NY - June 30, 2011 - (RealEstateRama) -- The Federal Reserve Bank of New York today was awarded recognition for best practices in efficient building management by the Building Owners and Managers Association (BOMA) at an event in Washington, D.C. The BOMA 360 Performance Building designation recognizes commercial properties that demonstrate best practices in all major areas of building operations and are managed to the highest standards of excellence. The award recognizes the New York Fed’s locations main headquarters in the Financial District and East Rutherford Operations Center (EROC) in East Rutherford, New Jersey.

Yonkers, NY - June 27, 2011 - (RealEstateRama) -- Mayor Philip A. Amicone, Chairman of the Yonkers Industrial Development Agency (IDA) joined Westchester County Executive Rob Astorino, city and county legislators and Ron Moelis the CEO of L+M Development Partners Inc. (L+M) for the ceremonial opening of 330 Riverdale, a brand new, multifamily housing development in Yonkers.

New York, NY - June 22, 2011 - (RealEstateRama) -- PREET BHARARA, the United States Attorney for the Southern District of New York, announced that ALEXANDER KAPLAN, formerly a Brooklyn-based real estate lawyer and the owner of a title insurance company, was sentenced on Friday, June 17, 2011, in Manhattan federal court to 46 months in prison by United States District Judge RICHARD J. HOLWELL for his role in a multimillion dollar mortgage fraud scheme. KAPLAN was convicted, on February 6, 2009, of eighteen counts of mortgage fraud after a two-week jury trial

New York, NY - June 20, 2011 - (RealEstateRama) -- In an effort to help revitalize struggling communities throughout the state with high numbers of abandoned properties, Assembly Speaker Sheldon Silver, Local Government Committee Chair William Magnarelli, and Assembly Members Sam Hoyt and Donna Lupardo announced today the passage of legislation that would allow municipalities to create land banks.

New York, NY - June 16, 2011 - (RealEstateRama) -- "Affordable housing is an all too scarce commodity, especially in New York City and the surrounding areas. Our state's rent protection laws are essential and any long term expiration would create a crisis. Last night the State Senate -- both Democrats and Republicans -- failed to continue the laws beyond their expiration.

Westbury, NY - June 13, 2011 - (RealEstateRama) -- Nassau County Executive Edward P. Mangano announced today that a once foreclosed, termite-infested property in Westbury is being completely rehabilitated to become a brand new energy-efficient home. This is a joint effort with Nassau County, Unified New Cassel Community Revitalization & the United Way of Long Island. Rehabilitation of this property is possible due to nearly $400,000 in Neighborhood Stabilization Program (NSP) funds obtained by Nassau County from the Federal and State governments. The home will be rehabilitated by certified professionals, working alongside student trainees from the United Way’s YouthBuild initiative.

New York, NY - June 3, 2011 - (RealEstateRama) -- U.S. Senator Charles E. Schumer today announced an $110,000 U.S. Department of Labor grant for the United Veterans Beacon House based in Bay Shore, Long Island. The center, which provides transitional housing and job training to homeless veterans in Suffolk and Nassau County, will use the money to fund outreach efforts to homeless veterans at other shelters in Long Island, as well as efforts to connect these veterans to potential employers. Schumer said that this grant was essential in order to provide our heroes who have fallen on hard times with the helping hand they need to find jobs and get their lives back on track.

New York, NY - May 31, 2011 - (RealEstateRama) -- To make it easier for property owners to assess, fund, implement and measure energy efficiency opportunities that can improve their buildings’ performance and bottom line, the New York State Energy Research and Development Authority (NYSERDA) has integrated its portfolio of programs and incentives for multifamily buildings, including condominiums and co-ops

May 26, 2011 - (RealEstateRama) -- Assembly Speaker Sheldon Silver today unveiled legislation to provide real relief for hard working men and women across New York State by capping local property taxes at two percent while at the same time including important safeguards to ensure communities are able to provide critical services for their citizens. The legislation prohibits local governments and school districts from exceeding the two percent threshold on the total tax levy and requires a 60 percent vote to override the levy. "Our message to property owners who have struggled under the burden of soaring taxes is simple," said Speaker Silver (D-Manhattan).

New York, NY - May 25, 2011 - (RealEstateRama) -- Flatbush Gardens Tenants Association filed a lawsuit in New York State Supreme Court today against David Bistricer, a principal of Renaissance Equity Holdings LLC, which owns and operates Flatbush Gardens, the sprawling 59-building housing complex in Brooklyn. Renaissance and an affiliated LLC are also named as defendants.

New York, NY - May 23, 2011 - (RealEstateRama) -- U.S. Secretary of Energy Steven Chu will join New York real estate industry executives and union leaders on Monday to recognize New York City’s first class of green building superintendents to graduate from the 32BJ-Thomas Shortman Green Supers training program. Green Supers is an ambitious labor-management green buildings program, launched just over a year ago with Mayor Bloomberg, to train superintendents and resident managers in the latest state-of-the-art energy efficiency measures.

New York, NY - May 20, 2011 - (RealEstateRama) -- Brack Capital Real Estate (BCRE), in a joint venture with IHG (InterContinental Hotels Group), has completed the acquisition of 180 Orchard Street on the Lower East Side of Manhattan for approximately $46 million in an all-equity transaction. BCRE will own 51 percent of the shares in the joint venture while IHG will own the remaining 49 percent. IHG's investment in the project will be up to $30 million. The team plans to develop a multi-use property to include a 290-room Hotel Indigo with retail component and parking.

Pearl River, NY - May 19, 2011 - (RealEstateRama) -- As an increasingly heated debate on property tax relief continues to focus solely on a tax cap, Assemblywoman Ellen Jaffee (D-Suffern) today announced she has introduced legislation (A7673) that creates an income-based tax “circuit breaker” as a viable alternative that actually lowers homeowners’ tax bills while protecting quality education.

New York, NY - May 19, 2011 - (RealEstateRama) -- GFI Mortgage Bankers, one of the largest independent mortgage banking firms based in New York, announces its selection as the preferred lender for condo buyers of Kirkman Lofts. A former soap factory, Kirkman Lofts is located in the DUMBO section of Brooklyn, NY and is a 45-unit condo building with a mix of one, two, three and four bedroom units. The building maintains the original aesthetic from its former days as a factory keeping the original steel silos for the entrance to each unit as well as the industrial windows and the brick façade.

Albany, NY - May 18, 2011 - (RealEstateRama) -- Governor Andrew M. Cuomo and Mayor Michael R. Bloomberg today announced that their legislation to prevent a massive rate hike on New York City energy customers has passed the Legislature unanimously in both houses.

WASHINGTON, DC - May 18, 2011 - (RealEstateRama) -- Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today hailed the start of a process by the Consumer Financial Protection Bureau (CFPB) to harmonize and streamline mortgage disclosure forms required under the Truth in Lending Act and the Real Estate Settlement and Procedures Act.<

Albany, NY - May 16, 2011 - (RealEstateRama) -- Governor Andrew M. Cuomo today continued his "People First Campaign" at Hofstra University, where he outlined his legislative priorities and told Long Islanders that their voices must be heard in order to get Albany to act on these key reforms.

WASHINGTON, DC - May 13, 2011 - (RealEstateRama) -- Rep. Carolyn McCarthy (D-NY04), who has been working steadily to bring relief to homeowners affected by the Federal Emergency Management Agency’s flood insurance program, just won bipartisan passage in committee of two amendments that, if made into law, would save homeowners significant amounts of money and bring better community notification in advance of future changes

NEW YORK, NY - May 12, 2011 - (RealEstateRama) -- On May 9, 2011, the Federal Reserve Bank of New York, along with other interested stakeholders, participated in a meeting sponsored by the Uniform Law Commission, the American Law Institute and the Permanent Editorial Board of the Uniform Commercial Code to explore legal issues involved in the recent problems experienced in the secondary mortgage market.

New York, NY - May 11, 2011 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor Linda I. Gibbs, and Department of Homeless Services Commissioner Seth Diamond today opened the City’s new state-of-the-art intake center for homeless families seeking shelter. With more than 75,000 square feet, the new Prevention Assistance and Temporary Housing (PATH) facility has 213 percent more space than the original intake site, and houses more than 200 specialists from the Department of Homeless Services, Administration for Children’s Services and Human Resources Administration. The new facility replaces the dilapidated and inefficient Emergency Assistance Unit (EAU).

Albany, NY - May 11, 2011 - (RealEstateRama) -- New York State Homes and Community Renewal (HCR) Commissioner Darryl Towns today brought the "People First Campaign" to Corning Community College, where he outlined Governor Cuomo's legislative priorities and told New Yorkers that their voices must be heard in order to get Albany to act on these key reforms.

New York, NY - May 10, 2011 - (RealEstateRama) -- Today, Governor Cuomo begins a statewide tour in support of his legislation to enact a hard property tax cap in New York. The Governor is right - - soaring property taxes are driving middle-class families out of their homes and forcing businesses to flee the state.

New York, NY - May 5, 2011 - (RealEstateRama) -- The New York State Energy Research and Development Authority (NYSERDA) today commended Fordham University for obtaining Leadership in Energy and Environmental Design® (LEED®) Gold designation from the U.S. Green Building Council.

New York, NY - May 4, 2011 - (RealEstateRama) -- The New York State Senate today passed 18 bills that covered a variety of topics including the strengthening of penalties and prohibitions for dangerous driving, as well as helping certain property owners receive the STAR tax exemption benefits for which they are eligible.