Shaping the NYC Skyline

Buckle up, Skyliners, for a fascinating deep dive into the world of title insurance with Zoy Balaskas, Senior Vice President and Chief Underwriting Counsel at Commonwealth Land Title Insurance Company’s New York National Commercial Services. With over 20 years of experience, Zoy takes us through her process of “title forensics”—a meticulous, investigative approach to uncovering and resolving the hidden complexities that go beyond basic title clearance.

Zoy unpacks her methods for tackling intricate title issues, from untangling overlapping property boundaries to clearing old, unpaid mortgages and navigating tricky easements. Each problem demands a custom solution, blending legal expertise with an almost instinctual ability to detect red flags. In one standout story, Zoy describes how her title investigation led her to land records dating back to the 1800s. She even ventured into the “dungeon” archives of the New York Public Library to uncover historical maps—essential clues to solving the title puzzle.

Reflecting on industry evolution, Zoy explains how New York’s traditional, in-person closings have shifted to remote escrow processes, accelerated by the COVID-19 pandemic. She shares how her team creatively adapted to pandemic challenges, from closed clerk’s offices to delayed records, ensuring that deals stayed on track. Technology, she notes, has reshaped the industry, introducing both efficiencies and new pressures for faster decision-making.

Zoy also brings us up to speed on recent changes to the Title Insurance Rate Service Association (TIRSA) Rate Manual, which now offers New York buyers and lenders a broader array of endorsements, aligning the state more closely with national standards. And she unpacks the vital distinction between omitting exceptions from a policy and obtaining affirmative insurance, explaining how transparency and disclosure in title policies are essential for long-term marketability. 

Methodical yet adaptive, Zoy tackles each transaction as a unique case, understanding that every property has its own history, quirks, and risks. This episode spotlights the essential, often behind-the-scenes work of title insurance professionals like Zoy, whose expertise plays a critical role in Shaping the NYC Skyline.

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  212-935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

You can Reach our Guest by email:

[email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

In this episode, we are thrilled to feature Basha Gerhards, Senior Vice President of Planning at the Real Estate Board of New York (REBNY). With her deep expertise and unique perspective, Basha sheds light on the intricate and ever-evolving landscape of real estate development in New York City. Drawing on her rich background in urban planning, land use, and zoning, she has successfully bridged the gap between government policy and community-driven urban initiatives.

In this insightful conversation, Basha takes us through her career journey, which began with a Master’s in Urban Planning from Columbia University and led to impactful roles, including as Senior Land Use Advisor to former Manhattan Borough President Gale Brewer and Planner at the NYC Department of City Planning. Now at REBNY, Basha continues to be a driving force behind key initiatives shaping New York City's future—particularly in the areas of housing affordability, sustainable development, and land use policy. Her passion for community engagement is unmistakable, as she highlights the essential role of listening to communities and championing thoughtful, equitable solutions. From leading pivotal policy changes to tackling the complex challenges of housing production and office-to-residential conversions, Basha’s work is instrumental in creating a more resilient and inclusive NYC.

Basha’s journey is not only informative but also deeply inspiring. She shares how her love for art, history, and design has fueled her dedication to improving the city she calls home. Her path reflects a profound commitment to making New York a more equitable place for all, and her insights into today’s challenges and opportunities in urban planning are truly invaluable.

Join us as we explore Basha Gerhards' remarkable career, her hands-on experience in urban planning and development, and the groundbreaking policy solutions she is championing all in service of Shaping the NYC Skyline.

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  212-935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

In this bonus episode of Shaping the NYC Skyline, we’re once again joined by Jason Hershkowitz, Partner at Seiden & Schein, P.C., to analyze the newly proposed rules from the Department of Housing Preservation and Development (HPD) for the 485-x and 467-m tax exemption programs. 

Jason walks us through the key differences between the proposed rules and those under the now-expired 421-a tax exemption program. With these rules still in the public comment phase, Jason emphasizes the importance of developers taking an active role in shaping the final rules before the November deadline.

Key takeaways:

• New Filing Requirements: A significant shift under 485-x is the requirement for developers to file an applicant registration within six months of commencing construction, notifying HPD of their intent to apply for the exemption. Additionally, 25% of the application fee is now due when submitting the workbook, a departure from 421-a’s post-construction fee schedule​.
• MWBE Requirements: The 485-x program introduces a 25% Minority and Women-Owned Business Enterprise (MWBE) spending threshold for project design and construction contracts. While this provides a clear compliance path, questions remain for developers who do not meet the threshold and must demonstrate “reasonable efforts"—a standard still subject to HPD discretion​
• Construction Wage Thresholds: Jason highlights the expanded wage requirements, which now apply to projects in specific zones and of a certain size. Developers must notify HPD of wage compliance at least three months before construction starts. Penalties for non-compliance include significant fines and potential forfeiture of tax benefits​
• Permanent Affordability: A critical change in both 485-x and 467-m is the requirement for permanent affordability. Units that are affordable under those programs will remain affordable and rent-stabilized even after the tax benefit period ends, with HPD maintaining oversight, adding a layer of ongoing compliance that didn’t exist under 421-a.

This episode provides essential insights into how developers can navigate the proposed regulations and the public comment process before the rules are finalized. Jason’s practical advice on compliance and avoiding costly penalties is invaluable. Be sure to also check out our earlier episode, The 485-x Tax Exemption Explained: A Deep Dive with Jason Hershkowitz, for a foundational overview of the 485-x tax exemption program.

More on Shaping the NYC Skyline:

Website - https://www.seidenschein.com

LinkedIn - https://www.linkedin.com/company/shaping-the-nyc-skyline

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  212-935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

You can also reach Jason Hershkowitz by email at:  [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

Get ready, Skyliners, for an eye-opening exploration into the heart of labor and advocacy with Kevin Elkins, Political Director of the New York City District Council of Carpenters (NYCDCC). In this episode, we dive into Kevin’s remarkable journey from running political campaigns to becoming a pivotal voice in the fight for construction workers in NYC.  Kevin takes us behind the scenes of the intense battles surrounding the inclusion of construction worker wage requirements as part of the new 485X statute, offering an insider’s perspective on the high-stakes negotiations that are reshaping the future of real estate development in NYC. 

From his roots in Staten Island’s unique political landscape to his current role championing the needs of carpenters, Kevin’s story is one of resilience and unwavering dedication. He opens up about the union’s challenges, recounting the strategic moves and hard-fought victories that have marked his tenure. You’ll hear personal stories about the union’s relentless pursuit of fair treatment and how Kevin has leveraged his political experience to overcome legislative hurdles, with the goal of ensuring that real estate development programs in NYC prioritize the rights and wages of construction workers. 

Join us for an insightful discussion that goes beyond the perspectives of NYC real estate developers, offering a rare and candid look at the union's relentless efforts and its ongoing battles. Gain a deeper understanding of the workers’ side and the critical role that labor unions play in Shaping the NYC Skyline.

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Phone - (212) 935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

Get ready, Skyliners, for an inspiring episode featuring Andrew Esposito, Founder of Apex Development. Andrew's journey is a remarkable tale of strategic pivots and relentless ambition. His transition from a top law graduate to a trailblazer in real estate development is both inspiring and instructive. Despite his impressive academic achievements, graduating summa cum laude from Fordham University and St. John's University School of Law, Andrew chose a different path, one that led him to become a significant force in the real estate landscape of New York City.

Our conversation uncovers Andrew’s unconventional shift from practicing law to mastering real estate development. After initially working at Barone Management, where he honed his skills and knowledge, Andrew launched Apex Development, which focuses on the development of charter schools, an asset class he became very familiar with during his tenure at Barone, and multi-family housing. His ability to navigate the complexities of zoning and his deep understanding of the economics surrounding development in New York City have been pivotal to his success.

In this episode, Andrew provides a deep understanding of the intricacies of charter school development, including securing the ideal site based on considerations unique to an educational facility, negotiating the master lease with the charter school, and obtaining construction financing. Andrew's story highlights the importance of mentorship, a growth mindset, and seizing opportunities.

Join us as we delve into Andrew Esposito's extraordinary journey, exploring his innovative approach to real estate development and how he harnessed the power of practical experience and strategic risk-taking all in service of Shaping the NYC Skyline.

More on Shaping the NYC Skyline:

Website - https://www.seidenschein.com/podcast/ 

LinkedIn - https://www.linkedin.com/company/shaping-the-nyc-skyline/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Reach our Hosts by phone, at (212) 935-1400, or by email, as follows:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

Buckle up, Skyliners, for an illuminating episode featuring Professor David Reiss, formerly of Brooklyn Law School and now at Cornell Law School and Cornell Tech. Renowned for his expertise in real estate finance and community development, Professor Reiss has shaped countless legal minds, including our very own David Shamshovich, with his practical approach to complex concepts. This episode offers a rare glimpse into his journey from NYU Law School and prestigious law firms to his influential role in academia, where he has spent over two decades demystifying real property law.

Starting as an associate at major law firms, David soon discovered his passion for teaching. This led him to Brooklyn Law School, where he served as a professor and the founding director of the Community Development Clinic. His dedication to education is matched by his commitment to real-world impact, evidenced by his work with not-for-profits and his previous role as Chair of the NYC Rent Guidelines Board.

In this episode, David delves into the critical role the Community Development Clinic has played in providing hands-on experience to students, preparing them for real-world transactional and corporate real estate challenges. He emphasizes the importance of consumer protection in the housing market, drawing lessons from the subprime mortgage crisis. David also shares insights on the evolution of real estate finance, discussing the transition from mutual savings to sophisticated global capital markets, and the lasting impacts of historical events like the Great Depression and the 2007-2008 financial crisis.

Listeners will gain a deeper understanding of how these complex systems work and the importance of regulatory frameworks in protecting consumers and maintaining market stability. David’s ability to simplify intricate concepts has made him a beloved figure among students and colleagues alike, earning him a reputation as one of the best in his field.

Join us as we explore Professor David Reiss’s extraordinary career, his innovative approach to legal education, and his deep belief in the power of practical experience. Without further ado, we present Professor David Reiss, a beacon of knowledge and a guiding light in Shaping the NYC Skyline!

More on Shaping the NYC Skyline:

Website - https://www.seidenschein.com/podcast/ 

LinkedIn - https://www.linkedin.com/company/shaping-the-nyc-skyline/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Reach our Hosts by phone, at (212) 935-1400, or by email, as follows:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

Reach our Guest Professor David Reiss by email at [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, New York 10022

Join us for an enlightening conversation with Richie Zav, the Head of Development at Diamond Dev Group. Richie, a self-taught developer from Queens, New York, has made a remarkable journey from real estate broker to a key figure in the development industry. With a business administration degree from Queensborough Community College and advanced studies in real estate development from Baruch College, Richie’s hands-on and innovative approach sets him apart.

In this episode, Richie shares his insights on the complexities of construction and development, and how he is making these topics accessible through his popular Instagram videos. He delves into the strategic importance of opportunity zones, recounts his experiences with innovative projects like the Rockaway condo development, and emphasizes the critical role of a dedicated team. Richie also discusses his success in securing the 421-a tax incentive, showcasing his expertise in navigating New York’s real estate landscape.

Discover how Richie’s commitment to excellence and community, combined with his resourcefulness and strong team support, have enabled him to inspire the next generation of real estate developers and Shape the NYC Skyline. 

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  212-935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

Welcome to another compelling episode of “Shaping the NYC Skyline,” where we had the privilege of sitting down with David Schwartz, Co-Founder and Principal of Slate Property Group. David's journey in real estate is nothing short of remarkable, filled with transformative projects that have left a significant mark on New York City's landscape. His impressive portfolio includes transitional housing, hotel-to-residential conversions, and innovative subsidized projects, all reflecting his deep commitment to meeting the evolving needs of communities.

Raised by a traffic commissioner father (Sam Schwartz, AKA Gridlock Sam) and a social worker mother, David embodies the ethos of a socially conscious developer. He is a true champion for the most vulnerable members of society. His leadership and out-of-the-box thinking have propelled Slate Property Group to the forefront of the real estate development industry. 

In our conversation, we explore David's insights into the intricacies of real estate development. From navigating regulatory challenges to the creative process of putting together groundbreaking deals, David shares his extensive knowledge and experiences. Listeners will gain valuable insights into various aspects of real estate development, including the complexities of financing, the importance of understanding market dynamics, and the necessity of innovative solutions to housing challenges. 

David's dedication to social responsibility and his ability to turn "crazy ideas" into reality make this episode a must-listen for anyone interested in real estate development and community impact. His visionary approach and commitment to making a positive difference truly set him apart as a leader in the industry.

Join us as we unravel the complexities of real estate development with David Schwartz and discover how his unwavering dedication to innovation and social responsibility is truly Shaping the NYC Skyline. 

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  (212) 935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

Get ready, Skyliners, for an engaging episode with our distinguished guest, Jed Resnick, the CEO of Douglaston Development. Jed brings a wealth of experience in real estate development, acquisitions, and finance, positioning him as a pivotal player in New York City’s real estate market.

In today’s discussion, we delve into the critical role of asset proximity in the real estate development process, construction dynamics, and the essential elements for successful housing initiatives in NYC. We explore the diverse range of projects developed by Douglaston, including mixed-income, Mandatory Inclusionary Housing, fully-affordable, senior living, and luxury condominiums.

Jed's narrative from an earnest beginning to leading one of NYC’s most influential development companies underscores the importance of strategic foresight and unwavering determination. Drawing from his impressive tenures at LeFrak and Douglaston, Jed offers invaluable insights and perspectives that have significantly impacted the city’s landscape.

Join us to learn from Jed's experiences as he navigates the challenges of the real estate industry, identifies opportunities unseen by others, and gains a competitive edge in Shaping the NYC Skyline. 

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone -  212-935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022

In this special bonus episode of Shaping the NYC Skyline, we welcome back Jason Hershkowitz, Partner at Seiden & Schein, P.C. and head of the firm’s real estate tax incentives group. Jason's extensive knowledge of New York's complex property tax exemption programs makes his expertise crucial for anyone navigating the city’s evolving real estate landscape.

During this episode, Jason dives into the intricacies of the newly enacted 485-x real estate tax exemption, the replacement for the expired 421-a tax exemption program. He thoroughly discusses the statute’s updated affordability requirements and tax benefits, and new requirements including minimum wages and Minority and Women-owned Business Enterprises (WMBE) participation. His analysis not only illuminates the statutory details but also explores their practical implications on project planning and execution, making it essential listening for developers and investors.

This episode is packed with crucial information on the new 485-x real estate tax exemption, offering listeners a detailed overview of the statute’s framework and the challenges and opportunities it presents. Tune in to gain valuable insights from one of the foremost voices in real estate tax incentives in New York City, and get a head start on mastering the complexities of this significant legislative update.

More on Shaping the NYC Skyline:

Website - https://seidenschein.com/

LinkedIn - https://www.linkedin.com/company/seiden-&-schein-p-c-/

Instagram - Shaping the NYC Skyline (@shapingthenycskyline)

Facebook - https://www.facebook.com/SeidenSchein

YouTube - https://www.youtube.com/@ShapingtheNYCSkyline

Email - [email protected]

Info Email - [email protected]

Phone - (212) 935-1400

You can Reach our Hosts by email:

David Shamshovich [email protected]

Brenda Slochowsky - [email protected]

Camila Almeida - [email protected]

You can Reach Jason by email:

Jason Hershkowitz – [email protected]

SEIDEN & SCHEIN, P.C.

570 Lexington Avenue, 14th Floor

New York, NY 10022