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New York Real Estate Post Covid-19: Strategies & Perspective

Webinar
06.15.2021

1 hour of CLE / CPE credit will be provided for attorneys/accountants licensed in New York and New Jersey.

  • Time: 8:30 a.m.-9:30 a.m.  – Presentation 
  • Host/Moderator: Jonathan I. Shenkman, AIF®, Associate Director of Investments/Financial Advisor - Oppenheimer & Co. Inc.
  • Speakers:  
    • Benjamin Blumenthal, Principal Broker, Noah & Co. 
    • Joseph Greene, Principal/Member, Continental Abstract LLC 
    • Matthew E. Rappaport, Esq., LL.M., Vice Managing Partner, Falcon Rappaport & Berkman PLLC 
    • Michael Shapot, Esq., Associate Real Estate Broker - The Shapot Team, COMPASS 
    • Joshua Schlenger, Esq., Special Counsel, Sheppard Mullin 
  • Seminar Description: This program will explore various aspects of the New York real estate market post the Covid-19 pandemic. The webinar should be highly informative to all those who work or have clients that operate, in the New York real estate market. It will also be beneficial to employers who are rethinking how to make the most of their office space. Topics that will be covered include: 

General Trends:

  • Changes across all asset classes of real estate since the onset of the pandemic
  • Types of transactions that are expected to see a significant increase post-pandemic
  • Impact to the closing process in New York

Residential Market:

  • Characteristics of today’s buyers and renters
  • Sell vs Rent
  • Price points, property styles, locations, that offer "value" to the consumer
  • Manhattan vs other boroughs and the suburbs 

Office Market:

  • Changes/new trends in the office leasing market
  • Current state of supply and demand
  • What is NOT coming back
  • Best approach on office planning, commitments, leasing space going forward 

Lease Termination, Nonpayment of Rent, and Best Practices:

  • Legal justifications by tenants for non-payment of rent or termination of the leases
  • Courts reactions to these issues.
  • Tenants likelihood of prevailing
  • Advice to include in real estate contracts for both landlords and tenants 

Timely Estate Planning Opportunities Using Real Estate:

  • Opportunities for families that experienced devaluation of real estate portfolio
  • Utilizing Freeze Partnerships/Irrevocable Life Insurance Trust for a real estate family
  • Planning for adverse real estate appraisals and business valuation costs
  • Impact of bill co-sponsored by Bernie Sanders to planning with real estate holdings
  • New York State decoupling from the Internal Revenue Code with respect to the Opportunity Zone program 

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