Jerome Strelov Esq.

Contracts for the purchase or sale of real property in New York invariably include a provision that requires the seller to deliver a so-called “FIRPTA” affidavit to the purchaser at closing.  Often times, the parties are not familiar with the requirements surrounding the FIRPTA affidavit.  However, in today’s market, with the ever growing presence of foreign real estate investors and developers, it is imperative that real estate buyers and sellers understand the implications of the FIRPTA requirements. Continue reading »

By now almost everyone is familiar with the transfer taxes imposed by the City and the State on sales of real property or co-operative apartments.  However, not everyone knows that non-residents must also pay a tax on their gain at the time of closing.  This can lead to a delay in the closing by unaware sellers. Continue reading »