Restaurants, Law Firms, & Bloody Marys

I just returned from an amazing weekend in Charleston, South Carolina.  It cost my girlfriend and I about $100 for roundtrip airfare on JetBlue to get there and it was well worth it.  I highly recommend you go for a weekend if you haven’t been.   As has been the case for a variety of my previous trips, the minute I turn on relaxation mode (LOL) is the minute I begin to think about business and marketing from a very different perspective.   Prior to leaving for South Carolina, I took some time out to view and scroll down the … Read more

When Bankruptcy is just a part of doing business

At times, a consumer’s take on filing bankruptcy seems to be so much different than that of a small or medium sized business.  On any given week, you can find articles in the Wall Street Journal or the New York Times that discuss some individual that has reached a high level of success in their field.  In several stores, that individual has filed Bankruptcy at one point or another.  In other words, they’ve tried and failed at something. Many having failed several times.  The key difference seems to be that they simply shrug it off and continue.  I’m not talking … Read more

5 Most Important Contract Clauses in a NYC New Construction Condo

The NYC real estate market is hot right now growing at a clipped pace.  People are once again throwing themselves into the eternal fires of bad decision making when they sign a Contract to purchase a new construction condominium in New York. You see one granite countertop and you lose your mind.   One small whisper of “We’re getting multiple offers on these” from a real estate broker (a lawyers sworn frenemy) can send a client into panic mode and plunking down money faster than Mel Gibson in Ransom. There are, however, some things that every purchaser should negotiate when purchasing … Read more

Grow your NYC Law Firm in 5 easy steps? There is no secret sauce

Over 186 posts I have covered everything from: “Can I keep my car if I file Chapter 7 Bankruptcy in New York” to the particularly spellbinding “Are cat’s exempt under Bankruptcy Law.”  The most broad to the most mundane topics.  To a lesser extent, I’ve done the same for Real Estate.  Realistically, there are only so many things that can be said about Real Estate and Bankruptcy.  My goal-the focus of this blog- was to present you with information that would be easily digestible.  I’d rail against those with websites that would copy and paste statutes and expect normal people, … Read more

No, we can’t charge $1,000 for a Real Estate Closing in New York. Here’s why…

A long, long time ago, I wrote a blog post where I essentially eviscerated attorneys who charged more than $1000 for a real estate closing in New York.  Years later, I realize how immensely stupid I was and how little I knew.  Needless to say, this has bitten me in the ass in more ways than one.  After speaking to various clients who have pulled up my old posts when they’ve called and asked for a price, I want to share why.   What I wrote back then:   If we (attorneys) are charging you more than $1,000 and its … Read more

You’re a nervous wreck at your Bankruptcy Consult, Part II

You walk into the office expecting to have a short conversation and maybe just get some information about filing for Bankruptcy, IN CASE, you actually want to file later on down the line.  You tell yourself you HAD to meet anyway, because you needed to know what a lawyer actually had to say versus reading everything online.  Mostly, you say, you’re just going to listen to what the attorney says and then thank him (me) for his time and go on about your day.  What’s the harm, you ask yourself.  However, a funny thing happens when you walk into the … Read more

You’re a nervous wreck that’s scared of Bankruptcy

You’ve come into my office, nervous, panic stricken and sleepless. You have no idea where to go from here. You know you’re stuck in a hole and have essentially no way out but the sheer prospect of filing Bankruptcy makes any sort of logical reasoning disappear. You obviously can’t tell your friends because what would they think of the fact that you’re filing Bankruptcy (as an aside, they would likely be relieved as many of them have come to see myself or some colleagues in the field)? Sometimes you can’t tell your spouse because you’re either ashamed of what happened, … Read more

The Note & NY foreclosure defenses

Just as I posted a blog yesterday on foreclosure, the Supreme Court, Kings County just came down with a decision that denied a banks motion for Summary Judgment in a foreclosure action.  In the present case, CitiMortgage v. Williamson, 30075/09, NYLJ 1202635577540, at *1 (Sup., KI, Decided December 9, 2013), Citibank moved for Summary Judgment (essentially saying this is a pretty cut and dry foreclosure action.)  The Defendants, who I believe were represented Pro Bono, by Bed Stuy Community Legal Services, essentially brought up several defenses.  The most common foreclosure defense is that CitiMortgage is not the holder of the Note because … Read more

Court sides with Homeowner in Foreclosure; Homeowner loses

Recently, Courts in New York have been slamming banks who come to foreclosure conferences and aren’t ready or are unwilling to engage in good faith settlement negotiations.  But they’re not doing enough.   Under NY CPLR §3408 (f): the parties must”negotiate in good faith to reach a mutually agreeable resolution, including a loan modification, if possible.”  That seems like a really rational thing to put into the law.  But the problem is the enforcement mechanism of this is really lacking.  The Court can grant sanctions as against banks that don’t play ball in good faith, like they’ve done in innumerable cases. … Read more

The NYC Housing Market Bubble 2.0

In 2007, wide eyed and ready for a thrill, I started my own practice and focused on two areas: Bankruptcy and Real Estate. That’s proabbly why the practice survived and grew the way it did.   In 2006-2007, people had lost their minds when discussing Real Estate. Professional “flippers” were everywhere. The market was teetering, but there were still some out there that kept buying. Just a few years prior, I had a conversation with a cab driver while visiting my sister in Miami. The cabbie wouldn’t stop talking about the 6 (yes, 6) properties she owned and rented. People … Read more