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New York Tax Abatements Now Tied to Prevailing Wages

On Labor Day 2021, New York Governor Kathy Hochul signed Senate bill S6350A. This law prohibits most individual unit owners or shareholders in condominiums or cooperatives from obtaining or maintaining tax abatements under section 467-a of...

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Understanding Energy Efficiency Grades for NYC Real Estate

Understanding Energy Efficiency Grades for NYC Real Estate

New York City is one of the largest cities in North America. With so many buildings and vehicles, it produces staggering carbon emissions and has a notable impact on the world's climate. For that reason, NYC's government officials have been devising ways to take...

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Association Insurance: What You Need to Know

Association Insurance: What You Need to Know

When’s the last time you thought about the state of your association insurance? If you can’t remember, you’re not alone. Too many associations put their insurance coverage on autopilot, trusting that their agent will let them know if changes need to be made. That’s a...

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Tips for budgeting during the covid-19 pandemic

Tips for budgeting during the covid-19 pandemic

2020 has unquestionably been a time of uncertainty in many aspects of our personal and professional lives. It is especially difficult because we do not know how everything will evolve for the remainder of the year and into next year. This makes financial planning for...

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Dealing with THE COVID-19 PANDEMIC by AKAM

Dealing with THE COVID-19 PANDEMIC by AKAM

The COVID-19 pandemic that affected New York City and the world will forever change the manner in which properties are managed and the way we live, work, and interact with others. As the pandemic ensued, AKAM’s entire organization proactively prepared all building...

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LOCAL LAW 152 EXPLAINED BY AKAM

LOCAL LAW 152 EXPLAINED BY AKAM

Local Law 152 was passed in 2016 by the Department of Buildings, requiring gas piping systems of all buildings to be inspected at least every five years by a licensed master plumber. Properties classified as R-3 occupancy or newer buildings, where an inspection has...

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