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Archive for the ‘Leases’ Category

Mark Levine, a New York City Council member, has a bill in the hopper that would retain an attorney, at public expense, for low-income tenants facing eviction. In a Times op-ed authored by Levine and Mary Brosnahan of the Coalition for the Homeless, they cite some stark statistics:

▪ Only ten percent of tenants facing eviction in New York City have lawyers, while nearly 100 percent of evicting landlords are represented by counsel.

▪ Tenants represented by counsel are 80 percent less likely to be evicted than those acting pro se.

▪ Nearly 29,000 New York City households were evicted last year.

▪ Providing an attorney for a tenant would cost taxpayers about $2,500, but sheltering a homeless family in New York City costs, on average, more than $45,000.

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Why Have a Ground Lease?

Ira Meislik, a New Jersey lawyer who  specializes in retail real estate, provides an excellent tutorial on ground leases, and why people might choose to arrange one, rather than simply purchasing/selling the property.

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