News & Publications

The sweeping economic sanctions spawned by Russia's invasion of Ukraine impact co-op and condo operations in terms of admissions and collection procedures and the administration of certain services to building residents. This is because conducting business with foreign nationals or entities who are subject to the sanctions could expose an association to enforcement proceedings by the United States Treasury Department. By way of background, by Executive Order 14066 of March 8, 2022, President Biden recognized [...]

While some commercial real estate loans are fully funded at loan closing, others are funded in whole or in part through future advances. Some loans provide for future advances to fund tenant improvement work and leasing commissions and/or capital improvements. Loans on transitional properties that do not have a rent stream sufficient to fully fund the property's operating expenses may also include future funding for shortfalls in debt service payments and other carry costs such [...]

As part of the first "comprehensive regulatory review" in nearly 40 years, the Department of Labor (DOL) recently proposed to amend, update, and "modernize" the regulations at 29 CFR parts 1, 3, and 5, which implement the Davis-Bacon Act (DBA) and the Davis-Bacon Related Acts (collectively, the DBRA). The background on and an overview of these important revisions to the DOL's regulations, which set forth rules for the administration and enforcement of the Davis-Bacon labor standards that [...]