BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Real Estate Transactions: Real estate transactions in NYC involve legal processes such as property sales, purchases, leases, and conveyances. Contracts are essential documents that outline the terms and conditions of these transactions. New York is a “caveat emptor” state, meaning buyers must conduct their […]
Category: Real Estate Market
Security Deposit Regulations in NYC Commercial Leases
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Here’s a general overview: No Statutory Limit: Unlike residential leases, there is no statutory limit on the amount of security deposit a landlord can request for commercial leases in NYC. Landlords and tenants are generally free to negotiate the terms of the security deposit based […]