Real Estate

Real estate matters require a trusted advocate who understands the law, the market, and your goals. Marano Law P.C. provides you with focused counsel and the support you need to move forward with confidence.

OUR SERVICES

RESIDENTIAL

Our firm represents buyers, sellers, investors, and lenders in all aspects of residential real estate transactions across the state. We ensure every deal is handled with precision and efficiency.

    • Purchase, sale and lease of homes, co-ops, and condominiums

    • Drafting and negotiating contracts of sale

    • Residential lease agreements

    • Title review and clearing title defects

    • Homeowner association (HOA) matters

    • Closing representation

    • Due diligence and property inspections

    • Real estate transfers through trusts, wills, or estates

    • Probate sales of real property

    • Partition of estate property among heirs

    • Asset protection through real estate structuring

  • The 1021 exclusion, also known as the Section 121 exclusion, allows homeowners to exclude up to $250,000 ($500,000 for married couples) of capital gains from the sale of their primary residence, provided they meet certain criteria.

    • Mortgage financing and refinancing

    • Construction loans and permanent financing

    • Multi-property and cross-collateralized financing

    • Sale-leaseback transactions

    • Tax-structured transactions

    • Distressed asset financing and workouts

    • Mezzanine financing and private lending arrangements

    • Condominium and cooperative conversions

    • New development projects and offering plans

    • Zoning, land use, and municipal approvals

    • Construction contracts and contractor disputes

    • Joint ventures and partnerships for development projects

    • Environmental due diligence and compliance

    • Breach of contract disputes

    • Landlord-tenant disputes, including eviction and rent collection

    • Partition actions between co-owners

    • Easement, boundary line, and adverse possession disputes

    • Quiet title actions and title insurance claims

    • Specific performance actions

    • Construction defect litigation

    • Foreclosure defense and workouts

    • Real estate fraud claims

COMMERCIAL

We counsel developers, business owners, landlords, investors, and lenders on complex commercial real estate transactions throughout New York. Our firm combines legal experience with business insight to guide clients through acquisitions, sales, leases, financing, and development projects.

    • Purchase and sale of office buildings, shopping centers, mixed-use properties, hotels, and industrial facilities

    • Commercial lease drafting and negotiation (landlord and tenant)

    • Ground leases and long-term development leases

    • Subleases, assignments, and lease renewals

    • Brokerage agreements and commission disputes

    • Commercial closings and contract enforcement

  • We assist both landlords and tenants in negotiating, drafting, and reviewing commercial lease agreements.

    Our firm covers leases, renewals, amendments, assignments, subleases, disputes, maintenance obligations, and lease compliance.

    • Drafting and negotiating residential and commercial leases

    • Rent regulation and rent stabilization issues

    • Evictions and holdover proceedings

    • Lease enforcement and tenant rights claims

    • Property management agreements and disputes

  • A 1031 exchange is a tax-deferral strategy that allows qualifying real estate investors to sell one investment property and reinvest the proceeds into another “like-kind” property without immediately paying capital gains taxes. Our firm guides clients through every stage of the 1031 exchange process.

  • We counsel developers, investors, and property owners through every phase of a real estate development project. Our work includes negotiating purchase agreements, securing permits, reviewing title, drafting construction and vendor contracts, and ensuring compliance with local, state, and federal regulations.

    • Co-op board representation and disputes

    • Condo and HOA governance issues

    • 1031 like-kind exchanges

    • Real estate investment structuring and joint ventures

    • Distressed property acquisitions and workouts

    • Eminent domain/condemnation matters

    • Air rights transactions in NYC

CONTRACT TO CLOSING

  • ACCEPTED OFFER & ATTORNEY ENGAGEMENT
    • Parties exchange a deal sheet
    • Marano Law is retained and becomes the central point of contact

  • CONTRACT DRAFTING & NEGOTIATION
    • Seller’s counsel circulates the draft
    • Buyer’s counsel negotiates price terms, contingencies, representations, repairs/credits, and closing date

  • CONTRACT EXECUTION & DEPOSIT
    • Buyer signs first and delivers the contract deposit to escrow
    • Seller countersigns

    Note: Confirm verified wiring instructions to avoid fraud.

  • DUE DILIGENCE PERIOD
    • Buyer Title & Lien Search: title report, judgment/UCC searches, municipal/CO checks; survey if needed
    • Property Review: inspections; condo/co-op financials & minutes; violations; leases
    • Seller assembles payoffs, CO, open permits, cures, tenancy docs.

  • FINANCING
    • Buyer applies for the loan, provides documents, and obtains a Commitment Letter with conditions
    • Lender orders the appraisal
    • Marano Law coordinates lender counsel/title

  • INSURANCE & TITLE DECISIONS
    • Buyer binds homeowners/HO-6/flood and owner’s title insurance
    • Lender policy is standard with financing
    • Confirm required endorsements and coverages

  • ISSUE RESOLUTION & “CLEAR TO CLOSE”
    • Cure title issues (old liens, violations, CO matters)
    • Finalize repairs and credits
    • Lender clears remaining conditions and issues the CTC.

  • CLOSING SCHEDULING & FINAL FIGURES
    • All parties coordinate the date, time, and location
    • Review prorations (taxes, common charges, rents), transfer taxes, payoffs, and recording fees

  • FUNDS & FINAL WALK THROUGH
    • Buyer wires the balance of funds
    • Seller provides keys/possession terms
    • Buyer conducts a final walk-through (typically within 24 hours) to confirm the condition

  • KEYS DELIVERED
    • Buyer signs loan docs, title affidavits, tax forms
    • Seller signs deed/transfer docs, affidavits, transfer tax forms, FIRPTA (if applicable)
    • Escrow agent disburses funds: payoffs, transfer taxes, broker commissions, net to seller

  • POST-CLOSING RECORDING
    • Deed and mortgage recorded; co-op stock certificate/lease transferred (if a co-op)
    • Buyer receives the final owner’s title policy
    • Seller receives payoff/satisfaction confirmations

  • POST-CLOSING FOLLOW-UP
    • Utility transfers
    • Set up tax escrows
    • Apply for exemptions/abatements
    • Marano Law remains available to resolve any post-closing issues

  • Marano Law represents clients in both residential and commercial real estate transactions. Our services include contract negotiation and review, title examination, due diligence, closings, leasing, financing, and resolving complex ownership or lien issues.

  • In New York, real estate transactions are complex and heavily regulated. From contract contingencies to title issues and lender requirements, having experienced legal counsel is essential.

  • Yes. While real estate agents facilitate transactions, they are not permitted to provide legal advice or negotiate legal terms. Our role is to ensure the contract reflects your best interests, your risks are mitigated, and you’re protected from future liabilities.

  • The closing process involves several steps: contract negotiation, title search and clearance, mortgage commitment, and final settlement.

    Marano Law P.C. handles all legal documentation, coordinates with lenders and title companies, and represents you at the closing table.

  • Title issues must be cleared before closing. Our firm ensures these are resolved or negotiated so you don’t inherit someone else’s problem.

REAL ESTATE FAQs

  • Failing to review contract terms carefully, overlooking title issues, misunderstanding tax implications, or proceeding without legal counsel are just a few. Our firm proactively identifies and addresses all potential issues before they become costly problems.

  • Sometimes. If the contract has contingencies, you may be able to back out. Without them, you risk losing your deposit.

  • In New York, buying a co-op differs significantly from purchasing real property. Instead of owning the unit outright, you purchase shares in a cooperative corporation and receive a proprietary lease. Co-op boards often have strict financial and occupancy requirements, and their approval is mandatory.

    Marano Law P.C. guides clients through board applications, contract terms, due diligence of building finances, and closing.

  • Yes. Our firm coordinates with your qualified intermediary, reviews replacement property contracts, and ensures compliance with IRS guidelines so you preserve the financial benefits of your transaction.

  • New York recently adopted legislation that allows for transfer-on-death deeds, or “TODD.” These deeds allow owners of real property to execute and record a deed that automatically transfers their real estate to beneficiaries upon their death and avoids probate.