CRE Insider Blog

Welcome to the CRE Insider Blog, a source of info and insights from First American’s leading real estate experts.

Application of Step-Transaction Doctrine to New York City Transfer Tax Upheld

By Mike Berey on January 18, 2018
GKK2 Herald LLC (“GKK2”) and SLG LLC (“SLG”), the owners, respectively, of 45% and 55% tenant-in-common interests in real property located at 2 Herald Square in Manhattan, transferred their interests to 2 Herald Owner LLC (“Herald LLC”). GKK2 received a ...
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Topics: New York Taxes

Foreclosure of Common Charge Lien is Limited to Recovery of Unpaid Common Charges

By Mike Berey on December 21, 2017
The Plaintiff Board of Managers commenced an Action to foreclose its recorded common charge lien for unpaid common charges in the amount of $16,488.36, accrued interest and attorneys’ fees. During the pendency of the Action, the Defendants paid the ...
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Conveyance of Mineral Rights includes Rights to Sand and Gravel

By Mike Berey on November 28, 2017
A 1917 deed conveyed “all minerals in, under and upon” the property being deeded, together with the rights to “dig, mine and remove” those minerals from the land. The Appellate Division, Third Department, concurring with the ruling of the Supreme Court, ...
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Topics: Mineral Rights Land Rights

City Can Assert Adverse Possession When it Collected Real Estate Taxes

By Mike Berey on October 26, 2017
The Plaintiff, whose predecessors-in-interest purchased the land in question in 1948, sought a ruling declaring that it was the sole owner of the property.
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Topics: Taxes

Building May Be Constructed Above Party Wall to the Center Line of Party Wall

By Mike Berey on October 10, 2017
Plaintiff, the owner of a five-story residential building directly adjacent to the Defendant’s newly constructed fourteen-story building, claimed that the easterly exterior wall of the Defendant’s building cantilevered over the Plaintiff’s building and ...
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Dissolved Corporation’s Sale Does Not Require Shareholder Consent

By Mike Berey on September 20, 2017
Make Realty Corporation (“Make Realty”), a New York corporation, was dissolved by proclamation in 1994 and not reinstated. The Plaintiff alleged that in 2013 Make Realty entered into a contract to sell property in Brooklyn to the Plaintiff and a right of ...
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