NYSAR Summary of Gov. Hochul’s Proposed Budget


Thanks to:

Michael A. Ferruggia
Bruno, Gerbino, Soriano & Aitken, LLP
445 Broad Hollow Road – Suite 420
Melville, New York 11747
P: 631.390.0010 x145
F: 631.393.5497

Tenant Opportunity To Purchase Act

Establishes the “tenant opportunity to purchase act”; prevents the displacement of lower-income tenants in New York and preserves affordable housing by providing an opportunity for tenants to own or remain renters in the properties in which they reside.


Giving tenants an opportunity to purchase the buildings in which they
are tenants will stabilize the housing market in New York at prices that
are affordable to working people. Affordable housing and price stabili-
zation provisions will help address our worsening homelessness crisis,
reduce housing inflation and address the worst aspects of gentrification
while allowing sellers to get a fair price for their property if they
wish to sell as well as permitting purchasers to enjoy a reasonable
profit from their investment.

Senate Bill S781 – Prohibiting the Sale or Rental of Illegally Converted Dwellings by Real Estate Brokers (New York)

The bill establishes punishment for real estate brokers, agents and salespeople who violate the legislation as a revocation of their license.

  We received the following information from Michael A. Ferruggia, Parter Bruno, Gerbino, Soriano & Aitken, LLP at our November 22, 2022 meeting.

Current Committee:Senate Judiciary

Law Section:Real Property Law

Laws Affected:Add §443-b, amd §441-c, RP L

Versions Introduced in 2019-2020 Legislative Session:S5458



An act to amend the real property law, in relation to sale or rent of
illegally converted dwellings


This bill prohibits the listing for sale, sale and offer to sell, list-
ing for rent, renting and offer to rent any illegally converted dwell-
ing. The bill establishes punishment for real estate brokers, agents and
salespeople who violate the legislation as a revocation of their


Section one of the bill amends the real property law by adding a new
section 443-b to prohibit real estate brokers, agents and salespeople
from listing for sale, selling or offering to sell, listing for rent,
renting and offering to rent any illegally converted dwelling. An ille-
gal conversion is any change to structural parts or existing facilities
of any building including but the subdivision of rooms, or erection or
demolition of walls, or the moving of any building from one location or
position to another, in violation of any state or local law, ordinance,
code or rule or regulation relating to real property, buildings or
multiple dwellings.

Section two of the bill adds language to paragraph (a) of subdivision 1
of section 441-c of the real property law that establishes a punishment
of license revocation for any real estate broker, agent or salesperson
that violates the provisions of section 1 of this bill, 443-b. In find-
ing that a violation has been made by an agent, broker or salesman, the
violation punishments from the department are listed: ten thousand
dollars fine for 1st violation, fifty thousand fine for second violation
and revocation of license for 3rd violation are issued under this arti-

Section three of the bill provides the effective date as immediate.


Illegal home conversion is a systemic issue in our state and often
plagues communities with vulnerable, low-income and often immigrant
tenants seeking housing in an unaffordable market. Illegally converted
dwellings create a safety hazard for those occupying the dwelling, their
neighbors and for first responders in the event of an emergency that
requires entry into the dwellings.

While enforcement efforts are pursued by many law enforcement agencies
in the state, the issue of illegal home conversions and the substandard
conditions faced by many fearful tenants - remain. In some cases, many
landlords or building owners find that the costs associated with being
caught for such violations are a cost of doing business.

Solving the issue of illegal dwelling occupancy requires more unconven-
tional approaches which will approach the issue differently than the
traditional way of fining the landlord and ordering the landlord to
cease renting illegally converted units. This bill will punish and deter
real estate brokers, agents and salespeople from selling or attempting
to negotiate illegally converted dwellings, which will hopefully combat
the swelling issue of illegal home conversions from a different legal
angle and will make our communities safer.


2020: S5458A - Referred to Judiciary

2019: S5458 - Referred to Judiciary
Real Estate Property Advertising

Real Estate Property Advertising

The file below contains a 2 page advertising checklist. Clicking the image below will open a pdf file in a new tab.

Abbreviations Used In Real Estate

ab Abstract
a/g pl Above ground Pool
ac Acre
a/c Air Conditioning
Actv Active
AICUZ Air Installations Compatible Use Zones
Alm Aluminum Siding
APPR Agency Approved
APT Apartment
ASB Asbestos Siding
ASM Assumptions
ASRSV Assigned Parking
Atfn Attic Fan
Att Attached Garage
ba Bath
Balc Balcony
Bb Baseboard Heat
Bch Beach
bd; br Bedroom
bkporch backporch
Bkyd Fenced Backyard
bldrs redo builder’s renovation
blt built-in
Bot Boat Slip
Brk Brick
Brkf Breakfast Area
Bsmt Basement
Bulk Bulkhead
Bung Bungalow
3 3 Bedrooms
4/3 4 Bedrooms/ 3 Bathrooms
4/3/2 4 Bedrooms/ 3 Bathrooms / 2 car Garage
1C, 2C 1 or 2 car Garage
1 LV, 2 LV 1 or 2 Living Levels
cac central air conditioning
CAM Common Area Maintenance
Cape Cape Cod
Cbl,Cblh Cable/Hookup
Cdrcl Cedar Closet
Cen Central Air
Cer Ceramic Tile
CFan Ceiling Fan
Chn Chain Link Fence
Cldsc Cul-de-sac
Clap Clapboard Siding
Clbhs Clubhouse
Clus Cluster
Cnl Canal
Col Colonial
Cont Contemporary
CPT Carpet or Carport
Crk Creek
Cnr,Crnr Corner
Crwl Crawl Space
Cth Cathedral Ceiling
CVAC Central Vacuum
Cvga Converted Garage
crprt Carport
c-fan Ceiling Fan
cent h/a Central Heat & Air
CW/CD Clothes Washer / Clothes Dryer
Deco Decorative Fence
DEDRS Deed Restrictions
Det Detached Garage
DhkpP Dryer Hookup
Dk Deck
DLM Seller Disclaimer
DLO Seller Disclosure
dbl Double
d/w Dishwasher
Dog Dock
Dog Dog Run Fence
Dr Dining Room
Dry Clothes Dryer
Dsp Garbage Disposal
DWF,DWAC Deep Water/Access
EFPP Eviction Foreclosure Prevention Program
ELE Electric
ELV Elevator
END End Unit
E-Rng Electric Range
Exr Exercise Room
Farm Farmhouse
fdr Formal dining room
Ffbr First Floor Bedroom
Fha Forced Hot Air
Fha/VA Qualifies for FHA/VA
Flr Floor Furnace
fin ll Finished lower level
fm rm, or fr Family Room
fml Formal
fncd yd Fenced Yard
f-bmt Finished Basement
Foyr Foyer
Fp, Fpl Fireplace
Fpgas Gas Fireplace
FR Family room
Frog Finished Room Over Gar
Full Fully Fenced
fplc Fireplace
f/a ht or fah Forced Air Heat
FSBO or Fisbo For Sale By Owner
FXR Fixer Upper
gar Garage
g/a Garage, Attached
garb Garbage
GAR Garage
GAROP Garage Door Opener
GLF Golf Course
Gmt kitchen Gourmet kitchen
GRNO Ground Maintenance
G-RNG Gas Range
HBR Harbor
HIST Historical District
HP Heat Pump
HPWA Water/Air Ht Pump
HRS Horses Allowed
HTUB Hot Tub
HW Hot Water
hvac Heating, Ventilation; Air Conditioning
IGSP In-Ground Sprinkler
Ingrd pool inground pool
INLW In-Law Suite
INT Intercom
JTUB Jetted Tub
LFT Loft
lrg Large
liv rm or lr Living Room
MAR Marble
MBA Master Bedroom w/Bath
MBRFP Master Bedroom w/FP
MCOA Min $ on Assumption
Meik Modern eat-in kitchen
Mk Modern kitchen
mo Month
MOPOA Monthly POA Fee
MRSH Marsh
Mstr Master bed room
MSN Masonry
Mtg Mortgage
MULTI 3+ Car Garage
MWV Microwave Oven
NAM Subdivision Name
nat gas ht Natural gas heat
nbd Neigborhood
NGS Natural Gas
NONQ Non-Qualifying
NTV Notice to Vacate
OA Owner Agent
OGN Ocean
of Owner Financing
OFC Office/Study
OFF Off Street Parking
OP Occupancy Permit
OVER Oversized Garage
OWN Owner Financing
PAN Pantry
PAR Partially Fenced
PAT Patio
PERM Perm Attic Stairs
PGS Propane
PICK Picket Fence
PILE Pilings
PL-A Above Ground Pool
PL Pool house
PL Swimming Pool
PL-1 In-Ground Pool
PLAY Playground
PMP Well Pump
POA Prop Owners Assoc
POR,POR-S Porch/Screened
prop ht Propane Heat
PRQ Parquet
PRTL Partial
PRV, pvcy fence Privacy Fence
PURD Planned Unit Residential Development (zoning term)
NTV Notice to Vacate
R/OPT Rent w/Opt-Buy
RAD Radiant Heat
RDR Radiator
REC Recreation Room
REF Refrigerator
REL Related to Seller
RNCH Ranch
rv prkg RV Parking
RVR River
SAT Satellite Dish
Scrnd porch Screened porch
sec dep Security (Amenity)
sec Security System
SECSY, sec sys Security System
SFIN Seller Finance Opt
SFT Water Softener
SHNG Shingle
SHOP Workshop
SKY Skylights
SLT Slate
sn Senior
SMP Sump Pump
SPC Drive parking spaces
SPDED Special Warranty Deed
SPLT Split-Level (Sty)
sr Security Deposit
s-mb Split Master Bedroom
spklr Sprinkler System
sq ft Square Feet
sd/w Storm Doors & Windows
STA State
STOR Assigned Storage
STR On Street Parking
SUN Sun Room
TEN Tennis Court
TOWN, Th Town House
TOD Transite Oriented Development
TRAD Traditional (Style)
TRAN Transitional
TRC Trash Compactor
TRSH Trash Pickup
Txs Taxes
U/g sprk Underground sprinkler system
UNO Unit Number
UTCL Utility Closet
UTLVL Utility Room Level
UTRM Utility Room
VYL Vinyl
WAR Warranty Plan
WBS Wood-burning stove
WF Waterfront
WDSTV Wood Burn Stove
WHF Whole House Fan
WHKP Washer Hookup
WIN Window/Wall Unit
WINDT Window Treatment
WLKIN Walk-in Closet
WOD, WOODD Wood, Wooded
w/o walk-out
WSH Washer
WTR Water
w/w cpt Wall To Wall Carpet
w/d Washer/Dryer
w/d hkup, or w/d con Washer/Dryer Hookup
wtr pd Water Paid
wbfp Wood burning Fireplace
wd Wooded yard
wdstv 4 Woodstove
wd pnl Wood Panelling
yd Yard

Clear Cooperation Policy–All OEs Publicly Marketed MUST be Published to the MLS

302.2 NAR Clear Cooperation Policy. Effective May 1, 2020 

a. Within one (1) business day of marketing a property to the public, the listing broker must submit the listing to the MLS for cooperation with other MLS participants. Public marketing includes, but is not limited to, flyers displayed in windows, yard signs, digital marketing on public-facing websites, brokerage website displays (including IDX and VOW), digital communications marketing (email blasts, e.g.), multi-brokerage listing sharing networks, and applications available to the general public. (NAR MANDATE 8, updated 11/11/19) 

b. Commercial, nonresidential, properties are not subject to this rule. 

c. All residential property classes are subject to this rule, including the following: (1) residential one- to four (1-4) family homes (but not residential properties with five (5) or more units, AND (2) residential cooperative apartments, condominiums, units in a home owner’s association (HOA), townhouses, mobile homes, AND (3) residential rentals, AND (4) vacant land that is zoned only for residential development.

Trade Area Reports

Trade Area Reports

A trade area is a defined geographic area which generates the majority of its customers. Figuring out the size and scope of a trade area is a vital piece of the puzzle, because these boundaries help determine how we can measure the number of possible customers, their demographics, and their spending power. Knowing a community’s customer base allows commercial agents and RPR users to approximate how much demand there is (or will be) for stores and services.

This basically means: how many people (shoppers) are in a given area and how much do they spend on products and services? Knowing this data goes a long way in determining whether your clients’ business is a good fit for success and growth.

Contributing Trade Area Factors

Many factors go into determining trade areas, especially when you’re trying to map out convenience versus destination shopping habits. Some things to consider:

  • Population size: The bigger the community, the bigger the trade area.
  • Nearby competitors: The cutoff point where customers are drawn to a competing area.
  • Destinations: Big box stores or discount department stores usually attract customers from a long distance.
  • Business mix: A cluster of popular businesses tends to pull customers from a distance.
  • Large employers: A business with lots of daytime employees means lots of lunch, snack and beverage dollars being spent.
  • Traffic: High traffic areas, either by foot or by vehicles, typically have an impact on visitors and sales.