New York City’s Local Law 97 (LL97), a cornerstone of the Climate Mobilization Act, is designed to reduce greenhouse gas emissions from buildings, which are responsible for nearly 70% of the city’s carbon footprint. The law mandates strict emissions caps for buildings larger than 25,000 square feet, with compliance deadlines set for 2024 and 2030. Failure to meet these caps results in substantial financial penalties,…

Forchelli Deegan Terrana Founded in 1976, Forchelli Deegan Terrana LLP (“FDT”) is one of Long Island’s largest and most distinguished full service law firms. Headquartered in Uniondale, NY, the firm employs 70+ attorneys in nearly 20 practice groups. FDT has a robust Corporate and Mergers & Acquisitions practice group that services a broad range of industries nationally. Who is on your M&A team and why?Our M&A team…

It’s the 100th anniversary of the New York State Parks, and on Long Island leaders are touting the economic impacts of outdoor spaces. The region accounts for more than 33% of all state park visitation in New York, or 29 million visitors in 2023, according to the Long Island Association, citing statistics from state officials. The officials included Randy Simons, commissioner pro tempore of the…

Valuing contaminated properties presents numerous challenges due to the complexity and uncertainty that contamination entails. The presence of hazardous substances or pollutants can affect both a property’s value and potential uses. As an assessment must reflect market value, contamination can significantly impact taxable valuation. Determining the extent of that impact requires careful consideration of legal, technical and economic factors as the valuation of contaminated properties…

Mixing family with business is famously problematic, yet it is still quite commonplace. Consequently, so is litigation arising from the family business. A family divorce can be just as emotionally and financially taxing as a matrimonial divorce. Indeed, family business disputes are plagued by the failure to document ownership rights and are inherently personal and emotional. For these reasons, family business divorces commonly result in…

“Jesse is incredibly knowledgable in his field, but it’s his ability to effectively communicate and navigate complex situations in a thoughtful and strategic way that sets him apart. He has become an invaluable member of our team for all our firm’s environmental law matters.” - Will Kogel, Vice President at Brent Mako. In the last 12 months what accomplishment are you most proud of? Being…

While in many circumstances electronically signing documents is easier for all parties involved, for commercial loans and real estate transactions, wet ink original signatures are still required. New York State passed legislation in 2021, the Electronic Signatures and Records Act (ERSA) Regulation, permitting and establishing the standards and procedures for use and authentication of electronic signatures and records. ERSA also added Section 291-i to the…

Many companies must now comply with the beneficial ownership interest (“BOI”) reporting requirements under the federal Corporate Transparency Act (“CTA”), available at https://www.law.cornell.edu/uscode/text/31/5336.  The CTA requires nonexempt limited liability companies (“LLCs”), corporations and partnerships to file a report (“BOI Report”) disclosing information on the company and its beneficial owners.  Beneficial owners are all of the individuals who 1) directly or indirectly exercise substantial control over…

When New York State passed the Marijuana Regulation and Taxation Act (MRTA) in 2021, entrepreneurs in the cannabis industry seized on the long-awaited opportunity to open retail cannabis shops on Long Island. But even after the approval of hundreds of adult-use cannabis licenses across the state so far, only two dispensaries have opened on Long Island, and new dispensaries continue to face regulatory hurdles that…

Some time back, I represented a client purchasing a coop at The Excelsior on 57th Street. The pricing of large units in the heart of Manhattan seemed too good to be true. They were, because the building was subject to a ground lease; the coop did not own fee title to the land underlying the building. The ground lease was subject to a market rate…