Latest news with #RonnieAbrams
Reuters
2 days ago
- Reuters
US ends a mail fraud case, 32 years late
NEW YORK, July 22 (Reuters) - In an apparent example of better-late-than-never, a federal judge in Manhattan on Tuesday dismissed a mail fraud criminal case after the U.S. Department of Justice realized it should have ended in 1993. Yousef Elyaho was charged in October 1991 with one count of mail fraud conspiracy, according to his case docket in Manhattan federal court. Elyaho entered a deferred prosecution agreement in January 1993, and his $25,000 bond was exonerated. If Elyaho lived up to the agreement, the case should have been dropped. It wasn't. Nothing happened until March 1999, when the case was "reassigned to Judge Unassigned," according to the docket. Twenty-six years passed until Tuesday, when the case was reassigned to U.S. District Judge Ronnie Abrams. "Judge Unassigned no longer assigned to the case," the docket said. In a court filing, Assistant U.S. Attorney Frank Balsamello said that based on the docket and a review of its own files, "the government believes that the case against Elyaho was to be dismissed sometime in or about February 1993." Jay Clayton, the U.S. attorney in Manhattan, ordered the case's dismissal with the judge's approval, which she granted. A lawyer who represented Elyaho in 1993 did not immediately respond to requests for comment.
Business Times
13-06-2025
- Business
- Business Times
New York real estate industry appeals broker-fee case ruling
[NEW YORK] Real estate groups are challenging a ruling by a federal judge that allowed New York City to begin enforcing a new law requiring landlords, rather than their tenants, to pay fees for hiring listing brokers. US District Judge Ronnie Abrams on Tuesday (Jun10) denied a request by the Real Estate Board of New York, the New York State Association of Realtors and others to pause the law while their lawsuit proceeds. The ruling was another setback for the industry's legal fight against the measure, which went into effect on Wednesday (Jun 11). The groups on Thursday filed an appeal of Abrams' decision to the US Court of Appeals for the Second Circuit. The City Council adopted the measure in November to end the longstanding practice of tenants being forced to pay costs incurred by landlords to hire the brokers who list their properties, which can add thousands of dollars to housing costs. The real estate industry argued the new law branded brokers as villains and would force landlords to raise rents to cover the costs of hiring them. New York City renters who settle on apartments that have broker fees pay an average of almost US$13,000 to secure the keys to a property, which frequently includes thousands of dollars in fees for brokers hired by landlords to secure tenants, according to an analysis by StreetEasy released last year. Roughly 40 per cent to 50 per cent of listings on StreetEasy have required lease signers to pay the commissions of agents hired by their new landlords, which have typically ranged from one month's rent to 15 per cent of the annual bill. The Real Estate Board contends that the law, known as Fairness in Apartment Rental Expenses Act, or FARE Act, interferes with exclusive agreements that landlords sign with brokers to list their properties and find tenants, in violation of the Constitution's bar against state laws impairing private contracts. It also argues the law violates the free-speech rights of landlords and brokers who publish real estate listings and then seek to receive compensation from tenants for the cost of the listing service. The industry's lawsuit alleges that the law will make rent-stabilised apartments too costly to operate and force landlords to raise rents to cover the cost of broker fees. The industry says tenants usually pay less over the life of a lease when commissions are paid separately, and that some are already refusing to pay broker fees even though the law hasn't taken effect yet. A state-approved broker-fee ban was briefly in place in February 2020, just before the first Covid lockdown brought the rental market to a near halt. By the time renter demand began rising the next year, a court had struck down the state law and brokers were eager to capitalise on what quickly became a very competitive market where prices have continued to rise. The law could dramatically change the dynamics of the city's highly competitive rental market, where prices have soared since pandemic restrictions began easing in 2021. The median cost of new Manhattan leases was US$4,571 in May, reaching another all-time high, according to appraiser Miller Samuel and Douglas Elliman. Prices have also set records in the outer boroughs. BLOOMBERG
Hindustan Times
13-06-2025
- Business
- Hindustan Times
New York real estate industry appeals broker-fee case ruling
(Bloomberg) -- Real estate groups are challenging a ruling by a federal judge that allowed New York City to begin enforcing a new law requiring landlords, rather than their tenants, to pay fees for hiring listing brokers. US District Judge Ronnie Abrams on June 10 denied a request by the Real Estate Board of New York, the New York State Association of Realtors and others to pause the law while their lawsuit proceeds. The ruling was another setback for the industry's legal fight against the measure, which went into effect on June 11. The groups on June 12 filed an appeal of Abrams' decision to the US Court of Appeals for the Second Circuit. The City Council adopted the measure in November to end the longstanding practice of tenants being forced to pay costs incurred by landlords to hire the brokers who list their properties, which can add thousands of dollars to housing costs. The real estate industry argued the new law branded brokers as villains and would force landlords to raise rents to cover the costs of hiring them. New York City renters who settle on apartments that have broker fees pay an average of almost $13,000 to secure the keys to a property, which frequently includes thousands of dollars in fees for brokers hired by landlords to secure tenants, according to an analysis by StreetEasy released last year. Roughly 40% to 50% of listings on StreetEasy have required lease signers to pay the commissions of agents hired by their new landlords, which have typically ranged from one month's rent to 15% of the annual bill. The Real Estate Board contends that the law, known as Fairness in Apartment Rental Expenses Act, or FARE Act, interferes with exclusive agreements that landlords sign with brokers to list their properties and find tenants, in violation of the Constitution's bar against state laws impairing private contracts. It also argues the law violates the free-speech rights of landlords and brokers who publish real estate listings and then seek to receive compensation from tenants for the cost of the listing service. The industry's lawsuit alleges that the law will make rent-stabilized apartments too costly to operate and force landlords to raise rents to cover the cost of broker fees. The industry says tenants usually pay less over the life of a lease when commissions are paid separately, and that some are already refusing to pay broker fees even though the law hasn't taken effect yet. The law could dramatically change the dynamics of the city's highly competitive rental market, where prices have soared since pandemic restrictions began easing in 2021. The median cost of new Manhattan leases was $4,571 in May, reaching another all-time high, according to appraiser Miller Samuel Inc. and Douglas Elliman. Prices have also set records in the outer boroughs. The case is Real Estate Board of New York v City of New York, 24-CV-9678, US District Court, Southern District of New York (Manhattan). -More stories like this are available on ©2025 Bloomberg L.P.
Bloomberg
12-06-2025
- Business
- Bloomberg
New York's Real Estate Industry Appeals Broker-Fee Case Decision
Real estate groups are challenging a ruling by a federal judge that allowed New York City to begin enforcing a new law requiring landlords, rather than their tenants, to pay fees for hiring listing brokers. US District Judge Ronnie Abrams on Tuesday denied a request by the Real Estate Board of New York, the New York State Association of Realtors and others to pause the law while their lawsuit proceeds. The ruling was another setback for the industry's legal fight against the measure, which went into effect Wednesday.
New York Post
10-06-2025
- Business
- New York Post
Apartment broker fee ban to begin Wednesday after federal judge nixes suit to stop the new NYC law
The city's new law banning broker fees will go into effect tomorrow, after a federal judge shot down a real estate lobby lawsuit to block the ban. Judge Ronnie Abrams ruled Tuesday that a federal lawsuit challenging the Fairness in Apartment Rental Expenses Act was mostly rooted in policy disagreements — not constitutional questions. 3 A new law banning broker fees starts tomorrow after a federal judge tossed a last-minute effort to pause the ban. Helayne Seidman 'Plaintiffs' discontentment with the Act, however, stems not from its effects on their constitutional rights, but from a fundamental disagreement with its underlying policy,' Abrams ruled. Her decision tossed all but one claim from the lawsuit, and denied a request to pause the law as the case plays out. The FARE Act — passed in City Council with a veto-proof majority of 42-8 on Nov. 13 — prohibits agents representing property owners from charging prospective renters a 'broker fee.' 3 The Real Estate Board of New York and other groups claimed that banning broker fees would 'destroy' the rental market, according to their suit. Helayne Seidman The lawsuit, filed a month later by the Real Estate Board of New York, a broker's association and various property groups, claimed that banning broker fees would 'destroy' the rental market. Abrams said the suit was asking 'the court to act as a 'superlegislature'' to nix laws they disagree with. 'The court declines that invitation,' Abrams wrote, adding that the 'remedy is through the political process, not in court.' 3 Judge Ronnie Abrams said the suit was asking 'the court to act as a 'superlegislature'' to nix laws they disagree with. Kbarnofsky/Wikipedia But while the judge said the act could result in higher prices for landlords, they were better positioned to absorb the cost by increasing rents. 'Tenants, by contrast, cannot pass the cost of brokers' fees to landlords,' she wrote. REBNY President James Whelan said he was 'disappointed' that their motion to pause the law was kiboshed. 'New Yorkers will soon realize the negative impacts of the FARE Act when listings become scarce, and rents rise. We will continue to litigate this case as well as explore our avenues for appeal.'
