Showing posts from December, 2018

New Years!! Fireworks! Street Closures... 942 New Tower in Brooklyn... Historic Clinton Hill Carriage House... and more...

Here are your New Year’s Eve street closures for Times SquareEverything you need to know about the ball dropWhere to watch New Year’s Eve fireworks in NYCFour alternatives to spending New Year’s Eve in Times Square or stuck at home.
Downtown Brooklyn may sprout 942-foot towerThe development as planned would be the densest in Brooklyn.

The Most Beautiful / The Most Expensive / Best Architecture / $82M 432 Park's 95th Floor Now Split in Two / $39.5M CPS Ritz Carlton

The most beautiful NYC homes of 2018
When it came to beautiful listings this year, New York City did not disappoint. From celebrity homes to historic townhouses to opulent penthouses, these are the 10 homes that made us say "wow!" in 2018.

NYC’s best new architecture of 2018Take a trip through the year in architecture 432 Park’s 95th-floor penthouse now split into two $41M listingsThe 95th-floor penthouse first appeared in 2016, asking $82 million; now, it's returned as two apartments.

$8M Chelsea Townhouse / Playwright Edward Albee's Tribeca $9M Pad / $43M Park Ave's Coops / Downtown Brooklyn...

Chelsea townhouse with 8 working fireplaces wants $8M A red brick three-family townhouse along West 22nd Street, between Ninth and Tenth Avenues is asking $7.995 million. The 4,090-square-foot home spans five floors and offers a total of eight bedrooms, five bathrooms, and eight fireplaces throughout
Playwright Edward Albee’s longtime Tribeca apartment seeks $9M The award-winning writer of plays like Who’s Afraid of Virginia Woolf? and A Delicate Balance moved to a loft in a converted cheese factory on Harrison Street in 1977, and kept the apartment until his death in 2016. Now, that apartment is hitting the market for the first time Opulent Park Avenue co-ops seeking $43M can be recombined to former glory

Legal Line Question: FinCEN, GTO and "All Cash" Transactions

Legal Line Question: FinCEN, GTO and "All Cash" Transactions December 4, 2018
Q: Can you please explain what FinCEN and GTO stand for and how they affect transactions where the purchaser is not using a lender, but rather is paying  “all cash” to purchase the property? A: The Financial Crimes Enforcement Network (“FinCEN”) is a bureau of the U.S. Department of the Treasury.  It’s mission is, in part, to safeguard the U.S. financial systems from illicit use and to combat money laundering.  FinCEN has the authority to issue orders that impose recordkeeping and reporting requirements on institutions in particular geographic areas.  These orders are referred to as Geographic Targeting Orders (“GTO”). The most recent GTO (the “Revised GTO”) announced by FinCEN is a renewed and revised version of a GTO that requires title insurance companies to identify the persons behind entities that purchase residential real estate in certain geographic areas without a bank loan.  For example, a …