On December 18, 2013, Susanne Peticolas, a Director in the Gibbons Real Property & Environmental Department, moderated a panel, “There May Be Money for Your Client for Site Remediation,” sponsored by the New Jersey Bar Association’s Environmental Law Section. The program focused on the Hazardous Discharge Site Remediation Fund (“HDSRF”). Michael Deely, Supervisor for NJDEP’s HDSRF program, cheered the audience by reporting that the long depleted fund once again has money for site remediation grants and loans.
Tagged: Transactional Real Estate & Leasing
At the end of last week, the New Jersey State Senate (“Senate”) introduced Bill S3116 that proposes to continue the moratorium on the statewide non-residential development fee (the “Fee”) that expired on July 1, 2013. Since July 1, 2013, developers and land use attorneys have been in a state of flux with regard to whether the fee applies to development projects. If passed, this legislation would extend the moratorium to December 31, 2014.
Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, has been named among the Top 5 real estate attorneys in New Jersey in a recent FunnelCast survey conducted by The News Funnel. Mr. Bershad has previously been recognized as a leading Real Estate lawyer by his peers in such publications as New Jersey Super Lawyers, Chambers USA Guide to America’s Leading Business Lawyers, and Best Lawyers in America.
As the third installment in the series, “From Ink to Occupancy, A Game Plan for a Successful Real Estate Project,” stemming from the Gibbons Women’s Initiative Seminar Series held in May, this blog addresses the question of whether title review alone is sufficient for purposes of ascertaining what restrictions are in place for a property being acquired. The simple answer is NO. All too often commercial buyers anxious to close on a property take shortcuts and limit their due diligence to title review as opposed to conducting land use due diligence. This blog explains why, particularly in New Jersey, it is critical to conduct land use and zoning due diligence in addition to title review prior to the acquisition of a property, so that you can be fully aware of any potential restrictions impacting the property.
Russell B. Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, will serve as a panelist at the upcoming RealShare New Jersey Conference on Wednesday, April 10, 2013, at the Newark Club in Newark, NJ. Mr. Bershad’s panel, “The Needs of the Modern Office User,” will discuss both the design and demand for space, as companies constrict their physical space and telecommuting becomes more prevalent. The panelists will also discuss their approach to doing business in today’s challenging marketplace, including site and office selection in urban versus suburban regions, owning vs. leasing, the impact of the economy and job market on decisions, and the overall burdens and benefits of doing business in New Jersey.
Buyers, sellers and their attorneys are faced with some tough issues when applying the New Jersey bulk sales law to particular real estate transactions, such as short sales, transfers by deeds in lieu of foreclosure, auction sales, sign and close deals and real estate joint ventures. Given the frequency of such real estate transactions in the current market, knowing how best to comply with the New Jersey bulk sales law with respect to these transactions can be critical to closing these deals.
Russell Bershad, Co-Chair of the Gibbons Real Property & Environmental Department, will be a featured panelist at the 11th Annual RealShare New Jersey Conference taking place on Wednesday, September 19, in New Brunswick, NJ. This year’s RealShare New Jersey Conference brings together industry leaders who will provide insight into the latest trends within the commercial real estate market.
The Gibbons Real Property & Environmental Department will once again exhibit at the International Council of Shopping Centers (ICSC) National Conference & Deal Making Idea Exchange, this year located at the Atlantic City Convention Center in Atlantic City, NJ on September 11 & 12. The Conference provides an opportunity for real estate professionals to network and focus on getting deals done.
All in favor of residential property tax relief, raise your hand! And, if you own an eligible home in the City of Philadelphia, apply now. The City is offering its residential homeowners the opportunity to apply for a Homestead Exemption. The Homestead Exemption would reduce the assessed value of an eligible home by $15,000 or more, and consequently lower the real estate taxes owed by the homeowner because the homeowner would pay real estate tax only on the reduced assessment.
In United Parcel Service v. Secaucus, UPS failed to properly respond to a request for information as to income and expenses made by the tax assessor pursuant to N.J.S.A. 54:4-34, universally known as a “Chapter 91 request.” Later, when UPS brought an action in the Tax Court to challenge its 2011 assessment, the assessor moved to have the action dismissed due to UPS’s failure to properly respond to the Chapter 91 request. This is what a tax assessor typically does in these circumstances because the statute is clear that the failure of the owner to respond to a Chapter 91 request within 45 days is an absolute bar to the right to bring an appeal of the assessment.