News & Publications

It's not only the sleek new condominium towers rising along Billionaires' Row that offer priceless views of Central Park. At the venerable Essex House Condominium on Central Park South, an Art Deco gem that first opened as a hotel in 1931, two unit-owners recently fought a court battle royale when one owner blocked a sliver of the other's coveted view of Central Park. The case revolved around an intriguing question: just how much is a view of Central Park worth? [...]

With the maturing, growth and increasing importance of defined contribution plans to the retirement security of US employees, many plan fiduciaries and managers of designated investment alternatives designed for defined contribution plans are considering whether it is appropriate and prudent to include a broader array of asset classes in defined contribution plan portfolios to enhance diversification, investment return and retirement outcome for defined contribution plan participants. This Legal Update reviews recent trends, considerations under the [...]

Are you looking to transfer property in the Philadelphia area? You should be aware that typically, there are both state and local transfer taxes associated with this type of transaction, in addition to recording fees. Effective October 1, 2018, the transfer tax for the city of Philadelphia is 3.278%, with an additional state of Pennsylvania tax of 1%, for a total of 4.278%. This transfer tax is traditionally split between the buyer and the seller (with [...]