On November 14, 2019, the AABANY Real Estate Committee presented a CLE and networking event entitled “Understanding Opportunity Zones and 1031 Exchange Deferrals.” The CLE program was presented by John J. Lee, Esq, Vice President and Account Executive of IPX 1031. Margaret Ling, Co-Chair of the AABANY Real Estate Committee moderated the program. Thanks to our sponsors: Xavier Wong of First Republic Bank, KALAGNY, and Big Apple Abstract. John Lee discussed the basics and the differences between the 1031 Exchange Program and the Tax Deferral Structures provided by Qualified Opportunity Zones. In the photo, from left to right: Margaret Ling, Co-Chair of AABANY Real Estate Committee; Qili Li, MD; John Lee of 1031 Exchange; George Xu of Century Development LLC; Larry Litwack of Big Apple Abstract Corp.
On October 28, 2019, the AABANY Real Estate Committee presented a CLE program entitled “Real Estate Fraud and Cyber Security.” The CLE and networking event took place at Anchin Block & Anchin LLP at its Manhattan Headquarters. The event was attended by over 50 attorneys and CPAs. Special thanks to the sponsors: Anchin Block & Anchin LLP; Big Apple Abstract Corp; KALAGNY; Capital One; SDL & GHS Insurance Agency; Ingram, Yuzek, Gainen, Carroll & Bertolotti LLP; Ganfer, Shore, Leeds & Zauderer LLP; Anchin Digital Risk Solutions. Pictured from left to right: Amol Pachnanda, AABANY Real Estate Committee Co-Chair; Russell Safirstein, Partner, Anchin Digital Risk Solutions; Margaret Ling, AABANY Real Estate Committee Co-Chair; Ashvini Persaud, Capital One; Daniel Jacoby, SDL & GHS Insurance; Benny Liu, CPA, Anchin; Larry Litwack, Big Apple Abstract; Jason Ganfer, Ganfer, Shore, Leeds & Zauderer LLP.
On October 2, 2019, the AABANY Real Estate Committee presented the CLE entitled: “Understanding Diversity and Inclusion in Our Everyday World.” The CLE was co sponsored by Flushing Bank, Big Apple Abstract Corp, KALAGNY, and Littler. It took place at Flushing Bank in New Hyde Park, New York and was attended by 40 attorneys. The panelists were AABANY’s very own William Ng, Shareholder at Littler; Samitha Lukose-Khan of Flushing Bank; and Sanjay Nair, Associate at Littler. The CLE was moderated by Margaret Ling, Co-Chair of the AABANY Real Estate Committee. The presentation invoked some powerful and informative discussion specifically on diversity, inclusion and bias in the legal profession.
Pictured above from left to right: Riyaad Khan of Allstate Insurance; Maria Silva of Flushing Bank; Margaret Ling of Big Apple Abstract and AABANY; Thomas Kane of Flushing Bank; Mohammad Yusuf of Flushing Bank; William Ng of Littler; Sanjay Nair of Littler.
On July 23rd, Margaret Ling, AABANY Co-Chair of the Real Estate Committee, presented a CLE event entitled “Due Diligence and the Ethics of a Real Estate Transaction” at Bank of Hope located in Flushing. More than 50 people attended the event, including 16 practicing real estate lawyers. This event was co-hosted by Bank of Hope, KALAGNY, Big Apple Abstract Corp, and AREAA New York East Chapter.
Margaret shared multiple representative cases she handled to remind attendees of the importance of conducting due diligence before a real estate transaction and the obligations of an ethical lawyer. One such case involved a man selling a house, owned by his mother, while she was abroad. Margaret emphasized the duty to know the clients thoroughly. She also discussed wire fraud committed by brokers and how to negotiate with brokers on behalf of the client’s best interests.
We want to give special thanks to Bank of Hope and its staff for hosting the CLE panel and providing delicious food. Also, thank you to the speakers and attendees. One CLE credit in the area of ethics was awarded to attendees. To learn more about the Real Estate Committee, go to https://www.aabany.org/page/120.
On April 11, 2019, the AABANY Real Estate Committee successfully presented a CLE and networking event entitled “Trends in Long Island Real Estate Development – IDA Zoning and Land Use.” Over 60 attorneys and real estate professionals were in attendance. The event was held at the Omni Building in Uniondale and was co-sponsored by AABANY, KALAGNY, Forchelli Deegan Terrana, Flushing Bank, and Big Apple Abstract Corp.
The panelists were:
Margaret Ling, AABANY Development Director and Real Estate Committee Co-Chair
Daniel Deegan, Partner at Forchelli Deegan Terrana
Kathleen Deegan Dickson, Partner at Forchelli Deegan Terrana
Rose Liu, Director of Finance & Research at Colliers International
Herbert Agin, CEO of Colliers International
The speakers led an insightful discussion on the following topics: title insurance, the key facets of Industrial Development Agencies (IDA) in Nassau and Suffolk County, zoning, variances, and municipal regulations in Long Island and how they have a significant impact on the success of real estate projects.
In addition, Rose Liu discussed the latest statistics involving real estate development projects in Long Island and Herbert Agin shared the latest updates on the Lesso Holdings development project in Westbury, Long Island.
The key takeaway of the event was that there are a lot of real estate development opportunities for investors in Long Island, but for the project to be successful, you need to have the right people on your team to navigate the rules and regulations surrounding real estate developments.
On Wednesday, April 3, 2019, Margaret Ling, AABANY Development Director and Real Estate Committee Co-Chair, and Pauline Yeung-Ha, Pro Bono Committee Co-Chair, presented a CLE and networking event entitled “Selling and Purchasing Real Property from an Estate.” The event was hosted by Flushing Bank at their Astoria branch and was co-sponsored by AABANY, KALAGNY, and Big Apple Abstract Corp.
Margaret and Pauline discussed the importance of doing your due diligence when selling or purchasing real property from an estate. They shared horror stories of clients trying to cut corners and scam the system. One story involved a separated husband and wife, where the wife claimed that the husband had passed away and tried to rush the closing on the sale of their house. After some investigation, it was discovered that the husband was alive and well in Greece. The moral of the story was that as real estate attorneys it is imperative to not blindly trust surrogates and extremely important to demand proof of death to prevent future liability and to protect your license.
Margaret and Pauline also discussed the tax implications and other liabilities that accompany the different types of estate structures, which included Joint Tenancy, Tenants in Common, Tenants by the Entirety, Life Estates, and Trusts. They advised that practitioners can save themselves a lot of trouble by taking the time to do their due diligence and by speaking to title companies.
We thank Flushing Bank and its staff for hosting the CLE panel for the evening. Thanks also to the speakers and everyone that attended. One CLE credit in the area of professional practice was awarded to attendees. To learn more about the Real Estate Committee, go to https://www.aabany.org/page/120.
On March 6, 2019, Margaret Ling, AABANY Co-Chair of the Real Estate Committee, presented the CLE entitled “Real Estate Fraud – Red Flags and War Stories” The CLE networking event took place at Knights of Columbus in Brooklyn and was co-sponsored by AABANY, KALAGNY, Northfield Bank and the Brooklyn Real Estate Board.
Pictured here from left to right: Debbie Lemma, Margaret Ling, Joanne Valerio, Geri Giancola, and Francis Chin of AABANY
Thanks to Margaret Ling for the write-up and photo for this post.
On Friday, March 1, 2019, Margaret Ling, AABANY Development Director and Co-Chair of the AABANY Real Estate Committee, attended Governor Andrew M. Cuomo’s State of the State 2019 NYC Region Presentation. The meeting was by invitation only and was in collaboration with the Network of Bar Leaders. Margaret is on the Network of Bar Leaders Executive Council and is the AABANY representative on that Council. The meeting was presented by Alphonso David, Counsel to the Governor and past AABANY Annual Dinner Honoree. Alphonso spoke about the specifics of the Governor’s upcoming 2020 New York State Budget and the priorities of education, housing, health and hospital, and environmental issues.
Thanks to Margaret Ling for the write-up and photos for this post.
