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Showing posts from August, 2016

A look at NYC’s oldest and youngest suspension bridges

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11 New York Beaches To Visit Labor Day Weekend

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Historic Chelsea townhouse, available for first time in 30 years, wants $9.9M

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8 Tips For Renovating A Small Space

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Battery Park City

Downtown on the West Side between the Hudson River on the West and South, the West Side Highway on the East, and Chambers Street on the North.
River views and river life are the biggest draws for seekers of Battery Park City apartments and condos. Because the land is technically owned by the Battery Park City Authority, a public entity, residents of these downtown condos do not pay taxes, but rather PILOT — Payments in Lieu of Taxes — which help to maintain the glorious esplanade which is Battery Park City’s crown jewel. The beautiful ribbon runs for 1.2 miles, linking together a string of kid- and pet-friendly parks. Many of Battery Park City’s condos look out onto these wonderful bits of green to the Hudson and beyond. Strolling, rollerblading, biking, or just catching a spectacular sunset or a close-up of the Statue of Liberty are all perks enjoyed in this wonderful downtown neighborhood. Built on the southwest tip of Manhattan, Battery Park City is both quiet and convenient. The l…

FEDERAL GOVERNMENT ATTEMPTS TO COMBAT MONEY LAUNDERING IN REAL ESTATE TRANSACTIONS

FEDERAL GOVERNMENT ATTEMPTS TO COMBAT MONEY LAUNDERING IN REAL ESTATE TRANSACTIONS In order to prevent money laundering in the real estate market, the US Department of Treasury Financial Enforcement Network (FinCen) issued an order in January of 2016 requiring some title insurance underwriters and its agents to report certain real estate transactions. The New York Times had a front page article on January 13, 2016 describing the new law and its impact on title companies and what must now take place at a closing.The January 2016 order affected residential real property in New York County NY over $3 million and another affected residential real property in Miami-Dade County, Florida over $1 million. FinCen has now extended the Order from August 27, 2016 through February 23, 2017. In addition to expanding the reporting period, it has expanded the scope of the reporting requirements. While the initial order only covered Manhattan (New York County, NY) and Miami Dade (Florida), the continue…