Due Diligence in the Purchase of Rent Regulated Apartment Buildings

Program Chair:
Richard T. Walsh Horing Welikson Rosen & Digrugilliers P.C.

The program will provide best practices on how an attorney representing a client purchasing apartment buildings/mixed use buildings should perform due diligence where there are rent regulated tenants. Instructions will be provided on which agencies to contact, which records the seller should be required to provide, and what to look for during the review process (HCR records, DOB records, leases and renewal leases, tenant files, etc.).

OnDemand: $69 for Members | $169 for Nonmembers
Members who are Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2017-2019), In-House/Corporate Counsel, Judges, or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
Randi Beth Gilbert
Horing Welikson Rosen & Digrugilliers P. C.

Peter A. Schwartz
Graubard Miller

6:00 p.m. – 6:05 p.m.	Opening Remarks, Introductions & Program Overview Richard T. Walsh
6:05 p.m. – 6:55 p.m.	Rent Stabilized & Rent Controlled Properties-Reviewing DHCR Records: What to Ask For/What to Look For Effect of the Housing Stability and Tenant Protection Act of 2019 on Due –Diligence Case Status Report By Building Apartment Registrations Building Registrations and Rent Roll MCI Orders Rent Reduction Orders MBR/MCR Orders “Deregulated” Apartments Randi Beth Gilbert
6:55 p.m. – 7:40 p.m.	Reviewing Leases/Tenant Files: What to Ask for/What to Look For Initial leases (DHCR riders); Renewal leases (timely tender, return, and countersignatures of renewal leases); Comparison of leases to DHCR records; Proof of rent increases, including back up for any claimed Individual Apartment Improvements; Tenant correspondence/complaint records/repairs HPD Online Peter A. Schwartz
7:40 p.m. – 7:45 p.m.	Break
7:45 p.m. – 8:00 p.m.	Tax Abatements or Benefits J-51 421-a LIHTC Regulatory Agreements Peter A. Schwartz
8:00 p.m. – 8:50 p.m.	HUD Regulated Properties FHA Mortgages Project Based Section 8 Richard T. Walsh
8:50 p.m. – 9:00 p.m.	Question & Answer Session Panel