LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
At present, Taylor has been working on Genting’s proposal to convert its Resorts World New York City racino into a fully licensed gaming facility.
The new rules mean sellers still have the choice of offering compensation to buyer brokers, which can serve as a way of marketing the home or making the listing more attractive to buyers.
All of the affordable apartments in El Hogar will be available to senior households earning up to 40% of the Area Median Income.
According to a cost benefit analysis prepared for the LDC, the renovations project would generate a one-time sales tax revenue of $45,973 and $5.2 million in sales tax revenue over a 30-year period.
The Northeast PHSI rose 3.0% from last month to 65.5, a decline of 0.3% from June 2023.
O’Donnell & Cullen received HGAR’s “Affiliate of the Year” Award in 2014.
The new resources are all available on facts.realtor, NAR's centralized website for information on the settlement.
The capital funding provided to the Metropolitan Transportation Authority will be earmarked towards the utility relocation contract for Phase 2 of the expansion project, which will deliver subway service to residents of East Harlem.
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
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