Flexibility and cost savings for commercial properties post-COVID-19

The COVID-19 pandemic and resulting lockdown restrictions designed to combat it have caused significant changes to the way in which commercial real estate owners and developers assess their properties, particularly with respect to existing or new spaces. As we all know, remote work and decreased needs for physical space have placed a novel burden on both tenants and commercial property owners alike to find solutions…

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Forchelli Deegan Terrana LLP to be Recognized at Long Island Business News’ 2021 Real Estate, Architecture & Engineering Awards

Forchelli Deegan Terrana LLP, Major Sponsor of LIBN’s 2021 Real Estate, Architecture & Engineering Awards, is proud to announce that the firm will be recognized with respect to the following projects: • Top Commercial Redevelopment | Cornerstone at Yorkshire, Lynbrook • Top Multi-Family Redevelopment | Laurel Homes, Roslyn Heights • Top Multi-Family Projects | Village by the Bay, Amityville • IDA Project of the Year…

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COVID-19’s effects on the economy, commercial real estate and property taxes

COVID-19’s effects on the economy were generally devastating, mirroring the healthcare crisis itself. However, the economic impact on commercial real estate and property tax was uneven, hurting many while benefiting others. Under New York State law, tax assessments are determined as of an annual valuation date. This requires each jurisdiction’s tax assessor to assign a value as of their respective date each year. This allows…

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Practical Considerations For NY Cannabis Licensing

"Practical Considerations For NY Cannabis Licensing" was published by Law360 on April 22, 2021. Danielle E. Tricolla, co-chair of Forchelli Deegan Terrana LLP's Cannabis practice group, discussed the various business opportunities created by each of the different categories of licenses, which included commentary regarding the interplay of those different licenses. This article is reprinted with permission from Law360.

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New York Real Estate Journal’s 2021 Ones to Watch: Judy Lynn Simoncic, Forchelli Deegan Terrana LLP

Real estate associations or organizations that you are currently a member of: Vision Long Island (Board of Directors); Options for Community Living, Inc. (Board of Directors); Association for a Better Long Island (ABLI) (Associate Board Member) What recent project, transaction or accomplishment are you most proud of? As the first woman named partner in the firm, I know that it takes hard work and perseverance…

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Forchelli Deegan Terrana LLP Attorney Jane Chen Appointed Co-Chair of the Asian American Bar Association of New York’s Real Estate Committee

Forchelli Deegan Terrana LLP is pleased to announce that AABANY President Terrence Shen has appointed Jane Chen a Co-Chair of the Association’s Real Estate Committee for the 2021-2022 fiscal year. Her term concludes on March 31, 2022. Ms. Chen, a Bayside, Queens, NY resident, earned her J.D. from the Maurice A. Deane School of Law at Hofstra University and her B.A. from Stony Brook University.

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Ensuring that a construction contractor is properly insured

Insurance coverage is often the bane of a construction contractor’s existence. Many contractors often give short shrift to the process of obtaining and ensuring that they have the proper insurance coverage necessary to protect them during their construction operations. However, such a cavalier attitude by contractors can have a deleterious effect on their business. Failure to have proper insurance often times results in claims against…

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Forchelli Deegan Terrana LLP Congratulates Jeffrey D. Forchelli, one of the 25 Most Powerful People in Long Island Law

Forchelli Deegan Terrana LLP warmly congratulates Jeffrey D. Forchelli, the firm’s Managing Partner, on being selected for inclusion in Long Island Business News’ Power 25 Law list. Mr. Forchelli and his fellow honorees were chosen exclusively by the paper’s Editor & Associate Publisher Joe Dowd and the editorial team based on their outstanding achievements and standing in the legal community. Mr. Forchelli, a Lattingtown, NY…

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Four Female Forchelli Deegan Terrana LLP Real Estate Attorneys Featured in WIPS

Four Forchelli Deegan Terrana LLP (“FDT”) attorneys were featured as 2021 Women in Professional Services (WIPS) in the March 23, 2021 issue of the New York Real Estate Journal: Mary E. Mongioi is the Chairperson of FDT's Veterinary practice group. Nicole S. Forchelli is a Partner in FDT’s Tax Certiorari practice group. Lindsay Mesh Lotito is an Associate in FDT’s Banking & Finance practice group. Brenna R.…

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Law: Sometimes a guaranty is no guarantee at all

In direct response to the COVID-19 pandemic, New York City’s City Council passed a local ordinance on May 26, 2020 in an attempt to protect tenants of commercial rental agreements. Many commercial leases in New York City contain “personal guaranty” clauses which permit landlords to collect unpaid rent, utilities or taxes directly from the business owners, who contract and agree to be responsible for the…

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