WHO WE ARE Abrams Garfinkel Margolis Bergson, LLP is a full-service law firm dedicated to smart, practical and cost-effective counsel. We take pride in our diversity of experience, which enables us to provide comprehensive and creative counsel to our clients. The firm's philosophy mirrors the values of its partners. We strive to maintain an open and collegial atmosphere within the firm, which we believe fosters the exchange of ideas and teamwork necessary to achieve exceptional results for our clients. WHO WE REPRESENT From entrepreneurs to established institutions, we represent clients who seek the sophistication of a large law firm and the attention of a "personal" lawyer - all bundled in a cost-conscious, result-focused package. We counsel a vast array of clients and variety of businesses, including banking institutions, start-up and middle market companies, real estate developers, cooperatives and condominiums, trade organizations, entertainment companies, performing artists, insurance companies, personal services firms, hedge funds, wholesalers, distributors, transportation companies and product manufacturers. WHAT WE DO
Our practice areas include:
We welcome the opportunity to meet you and learn about the business goals that you seek to achieve.
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Abrams Garfinkel Margolis Bergson, AGMB and related terms, along with the content and material presented herein, are the property of Abrams Garfinkel Margolis Bergson, LLP and may not be used or reproduced without the express permission of AGMB, LLP. Copyright © 2003-2012 AGMB. All rights reserved.
AGMB Alert: Bed Bug Legislation
REBNY on a previous memo dated August 31, 2010 informed you that the governor signed Bedbug Disclosure into law.
Click here to read a a memo from Neil B. Garfinkel, REBNY Residential Counsel, with an update on this new law.
AGMB Alert: Non-Warrantable Condominium Presentation
“Non-Warrantable Condominiums” are condominium projects that are not eligible to participate in Fannie Mae or Freddie Mac loan programs and there are a significant number of condominium projects in the New York area that are classified as “non-warrantable.” Neil Garfinkel, of Abrams Garfinkel Margolis Bergson, LLP, and Rolan Shnayder, of H.O.M.E, have created a complimentary program for real estate brokers which educates and provides solutions for working with Non-Warrantable Condominiums. To read more about this program please click here.
For more information regarding this Alert or to arrange for a presentation to be made in your office, please contact Neil Garfinkel at (212) 201-1173 or ngarfinkel@agmblaw.com.
AGMB Alert: Agency Disclosure Law - Frequently Asked Questions and Training Video
I am pleased to distribute a list of “Frequently Asked Questions” which I have prepared concerning the recent amendment to New York State’s Agency Disclosure Law (the “Law”). Please click here to access the FAQs.
In addition, I have conducted many training sessions at the Real Estate Board of New York (“REBNY”) concerning the amendment to the Law. Please click here to view a video of one of my REBNY training sessions.
Finally, I am attaching an Affirmation that can be completed by a real estate broker if a consumer refuses to sign the Agency Disclosure Form when presented. Please click here to access the Affirmation and a sample of a completed Affirmation.
Please contact me at (212) 201-1173 or ngarfinkel@agmblaw.com if you have any questions.
Media Alert: Is Derek Jeter's Tampa Mansion a Tax Shelter? - AOL Real Estate
Bill Abrams was recently quotes in an interview with AOL Real Estate regarding how multiple residencies affect tax liability. To read the full article click here.
AGMB Professional Brokers Bulletin: September 2010
Planning Guide for Foreign Investors
By: Michael C. Xylas, Esq.
Foreign ownership of U.S. real estate continues to grow because of its allure as a strong, stable investment with steady appreciation potential. The linked article provides ownership planning alternatives, and introduces tax rules that real estate professionals must know to properly assist foreign investors interested in acquiring U.S. real estate. Click here to read the full article.
What happens if someone refuses to sign the New York State Agency Disclosure Form?
By: Neil B Garfinkel, Esq. and David Koshers, Esq.
As of January 1, 2011, New York State licensed real estate agents are required to provide the New York State Agency Disclosure Form (the “Agency Disclosure Form”) in all residential real estate transactions. By giving the Agency Disclosure Form the real estate agent is able to disclose how, and for whom, the real estate agent is acting in a particular transaction.
What happens in the event that a real estate agent attempts to deliver the Agency Disclosure Form but the recipient refuses to sign the form thus acknowledging its receipt?
The linked Affidavit is a special-purpose affidavit created by AGMB and has been reviewed by the New York Department of State’s Division of Licensing Services. It provides a way for the agent to confirm, through the agent’s own written declaration, that a person has refused to sign the Agency Disclosure presented by the agent. The Affidavit need not be notarized, although it should be witnessed and must be kept in the agent’s files for three years.
Click here to download a copy of the affidavit as a Word document.
AGMB ALERT: Judge Grants Fraud Trial Against Dunkin’ Donuts
Click here to read an article regarding an AGMB victory in a case against Dunkin Donuts.
AGMB ALERT: New Lead-Paint Rules Applicable to Renovators and Maintenance Professionals
After approximately twenty years of delays, the Environmental Protection Agency (EPA) has instituted a new regulation mandating renovation and remodeling contractors to be certified in techniques for containing lead dust resulting from interior work. The EPA ‘s new guidelines are being established to protect children during renovation, repair and painting activities that disturb Lead-Based Paint. In addition to being certified and trained in required “lead safe” work practices, the guidelines also require contractors and other maintenance professionals to follow protective work practice and testing standards.The rule applies to work done by renovators and maintenance professionals working in any residential housing built prior to 1978. This includes coops, condos, child care facilities and schools. Failure to comply with the new regulations can lead to fines over $24,000 per day of non-compliance. Tenants and purchasers of residential properties built before 1978 are already required to be provided with the EPA pamphlet “Protect your Family from Lead in Your Home.” Contractors must now also provide the additional lead hazard information guide “Renovate Right: Important Lead Hazard Information for Families, Child Care Providers and Schools.”For more detailed information on the new lead paint regulations, consult the EPA’s website by clicking here. For all of the purchase and sale needs of your clients generally, please contact Neil B. Garfinkel, Esq. and Michael C. Xylas, Esq. of Abrams Garfinkel Margolis Bergson, LLP at ngarfinkel@agmblaw.com and mxylas@agmblaw.com and (212) 201-1170.
AGMB ALERT: AGMB Obtains Major Court of Appeals Victory and Reversal for Coop Client
AGMB scores a major victory before the New York Court of Appeals for a Manhattan cooperative that has potentially far reaching and positive financial implications for cooperatives throughout New York State. Barry G. Margolis, co-chair of the firm's litigation department, fashioned an appellate strategy and argument convincing the Court of Appeals to reverse a First Department decision effectively permitting a sponsor/commercial tenant calcluating rent escalations under a commerical lease to derive the benefit of tax abatements and exemptions specifically mandated for residential tenant-shareholders. This dramatic reversal decision not only materially improved our client’s bottom line, but it also sets a precedent by which similarly situated cooperatives may benefit.
To read the full text of the decision click here.
To watch video of the oral argument click here. (Requires Windows Media Player)
To discuss how your cooperative may benefit from this decision, contact Mr. Margolis directly at bmargolis@agmblaw.com or 212-201-1174.
AGMB ALERT: MAJOR CHANGES TO RESPA EFFECTIVE JANUARY 1, 2010
Effective January 1, 2010, major changes will be made to alter the existing Real Estate Settlement Procedures Act (RESPA).To read a more detailed summary of these changes and some suggestions for an easier transition please click here .To view the new form of Good Faith Estimate (GFE) click here . To view the HUD-1 Settlement Statement please click here .If you have any further questions regarding this subject matter please contact Neil Garfinkel at (212) 201-1173 or ngarfinkel@agmblaw.com or Michael Xylas at (646) 473-7567 or mxylas@agmblaw.com.
