Brian Lustbader will address the New York State Bar Association Real Property Law Section’s Condominiums and Cooperatives Committee on “Hot Construction Topics” on June 13, 2024. He will address two legislative initiatives: an amendment to the NYS Prompt Payment Act enacted this past November that, among other things, caps retainage on construction contractors at 5%, and a proposed amendment to Real Property and Proceedings Law Sec. 881 that provides a more complete list of items that a court may award in granting access to developers for protecting neighboring property during construction, a law that assists developers in that it permits underpinning, which if passed may raise constitutional issues.
You can learn more about and register for the presentation here.