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CELEBRATING WHITE PLAINS

T h e C a p p e l l i O r g a n i z a t i o n a n d i t s w h o l l y o w n e d s u b s i d i a r i e s , F u l l e r D e v e l o p m e n t C o m p a n y a n d L R C C o n s t r u c t i o n , i s a v e r t i c a l l y i n t e g r a t e d , f u l ls e r v i c e d e v e l o p m e n t a n d c o n s t r u c t i o n c o m p a n y l e d b y a t e a m o f e x p e r i e n c e d a n d m u l t id i s c i p l i n e d p r o f e s s i o n a l s .

P e r s o n a l i z e d i n v o l v e m e n t , a t t e n t i o n t o d e t a i l , c r e a t i v i t y , s a f e t y , q u a l i t y c o n t r o l a n d c o s t m a n a g e m e n t a r e t h e h a l l m a r k s o f t h e C a p p e l l i O r g a n i z a t i o n p h i l o so p h y .

OWN A PIECE OF YONKERS HISTORY

STRONG IN-PLACE INCOME

DEVELOPMENT POTENTIAL

REOPENING THE ECONOMY AND PANDEMIC-DRIVEN ADAPTATIONS SPARK NEW WORK AND INVESTMENT PARADIGMS

The pandemic has forced indi viduals, businesses and gov ernment to re-examine their priorities and modify their long-term objectives. Commercial real estate own ers, investors and tenants, deeply im pacted by the pandemic, are refining their business strategies as new con sumption and production paradigms emerge and accelerate in almost every aspect of the economy.

demand changes have prompted com mercial real estate investors to realign their relative perception of investment safety and downside value risk among the main property types – multifamily apartments, retail, office and industrial.

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The pandemic effect and the subse quent search for yield has convinced in vestors that commercial real estate has an important place in their portfolios. During 2021, tens of billions of dollars have been and still are being raised by the largest investment firms to invest in commercial real estate via nontraded REIT funds. The weight of capital into commercial real estate markets sug gests that capitalization rates will re main at very low levels, at least in the short term.

Covid-19 vaccination rates are im proving slowly, companies are pushing for a return to the office and the pace of economic recovery continues although on an unpredictable path. Return-tothe-office requirements are creating new paradigms of hybrid work. Work location flexibility has become an im portant retention tool for companies as labor shortages abound. Nationwide la bor rate participation is still below prepandemic levels and some workers are demanding distancing protocols.

Limited labor availability in the U.S. and abroad, is contributing to sup ply chain disruptions. In turn, goods shortages are fueling inflation. Debates continue as to the multitude of reasons behind the persistence of supply disrup tions and the likelihood that the econ omy will face entrenched inflationary forces for a longer period. Consumer

Industrial properties have emerged as leaders in downside value protec tion and yield continuity. Residential apartments are also a favorite, with sec ondary and suburban apartment mar kets taking the lead over luxury urban markets. Retail real estate comes next, helped by improving foot traffic and new concepts. Urban offices are under scrutiny as major employers are shrink ing their footprint and refocus their real estate strategies, accommodating vary ing forms of a hybrid workplace. Sub urban offices have emerged as winners in areas where an influx of households is changing demographic patterns that were in place prior to the pandemic.

For Westchester, the combination of a reordering of investor priorities along with an insatiable appetite for yield, has brought about a market where capital ization rates are low and investors con tinue to bid-up pricing. Industrial and residential assets are benefitting most but retail valuations are also coming back in high-traffic corridors. Office as sets are now the value play in commer cial real estate. Many obsolete offices may be converted into residential as their viability for office use has disap peared.

Consumers, investors and corpora tions continue to yearn for normal ization of the pre-pandemic supply of goods and services. The disruptions are felt in every industry. Over the long term, onshoring of manufacturing op erations currently located abroad will create jobs and contribute to the U.S. economic prowess.

Proudly providing legal services since 1971.

CUDDY & FEDER CELEBRATES 50 YEARS OF SERVICE

Serving the Community for 50 Years

In celebration of our milestone anniversary, Cuddy & Feder LLP has created the 5000 Hours Challenge for our attorneys and staff, a pledge to provide 5,000 hours of pro bono legal services and volunteer work to 50 community organizations by year end.

Some of our community partners include:

White Plains Hospital

Westchester County Association

Business Council of Westchester

African American Men of Westchester

The Carver Center

Legal Services of the Hudson Valley Burke Rehabilitation Hospital Foundation First for Abilities First NY Mercy College

This year marks the 50th anniver sary of Cuddy & Feder and what started as a two-person partner ship operating out of a three-story co lonial house on Maple Avenue in White Plains, New York.

and decision-makers — built on the cali ber of our work — and for bringing deep industry knowledge, compassion and experience to bear in service of our cli ents’ goals. We’re your strategic advisors, addressing not only your legal needs but

“Culture at Cuddy & Feder has always involved a deep and charitable connection to our communities and the people we serve. Through this commitment, we celebrate and honor organizations in the community working for people in the region.”

CHRISTOPHER B. FISHER, MANAGING PARTNER

Congratulations to Cuddy & Feder’s 2021 New York Super Lawyers and 2022 Best Lawyers!

Super Lawyers

Christopher B. Fisher

Michael L. Katz

Anthony B. Gioffre III

William S. Null

Neil T. Rimsky

Joshua E. Kimerling

Leslie Levin

Eon S. Nichols

Jordan M. Brooks

Neil J. Alexander

Jennifer Van Tuyl

Super Lawyers Rising Stars

Kristen M. Motel

Thomai (Amy) Natsoulis

Taylor M. Palmer

Troy D. Lipp

Anthony F. Morando

Alec R. Gladd

Best Lawyers

Christopher B. Fisher

Joseph P. Carlucci

Neil T. Rimsky

Joshua E. Kimerling

Best Lawyers: Ones to Watch

Taylor M. Palmer

Needless to say, these 50 years have been a period of in credible growth, both for our firm and the vibrant commu nities we serve. Today we are much more than a Westchester law firm. With our principal of fice in White Plains, our Hud son Valley office in Fishkill, New York, and offices in New York City and Stamford, Con necticut, Cuddy & Feder serves clients throughout the greater New York City-metro region, as well as Westchester, Dutchess, Putnam, Orange, Rockland, Ulster, Sullivan, Columbia and Fairfield counties.

The warm, welcoming family feel of the firm remains integral to how we prac tice law. Our culture at Cuddy & Feder is our connection to the communities and people we serve. That’s what we most celebrate and honor on the firm’s 50th anniversary. Cuddy & Feder’s core values of excellence, service, respect, support, commitment and community in service to others extend beyond our office doors. They’re what make our firm unique.

To mark our anniversary, we are lean ing in deeply, expanding our donations, our time and efforts and rededicating our selves to the community through pro bono legal and not-for-profit work. Please join us in that commitment to one another as we celebrate 50 years in the community.

TAKING PRIDE IN OUR WORK

At Cuddy & Feder, we pride ourselves on our reputation for quality, substantive ties to community leaders, stakeholders

your business and personal ones as well.

We are proud of the successful reso lutions, innovative legal solutions and nuanced strategies we provide for our clients. Our team’s shared breadth of le gal and industry know-how makes us well-suited to navigate fast-paced, everchanging corporate, political and legal landscapes, to help you tackle your most complex legal challenges and see you through to your desired results.

An integral part of our culture at Cuddy & Feder is our connection to the communities and people we serve. That’s what we most celebrate and honor on the firm’s 50th anniversary.

IN THE 3 MINUTES IT TAKES TO MAKE YOUR COFFEE, YOU COULD CHECK YOUR HEART HEALTH

When it comes to knowing about your heart health, making a big difference shouldn’t take a huge effort. That’s why White Plains Hospital created a three-minute quiz that can help you determine your risk factors and lead you to the right doctors for your treatment.

Because knowing is exceptional, every day.

Visit exceptionaleveryday.org/heartdisease or scan the QR code with your phone to take the quiz.

PROPERTY TAX APPEAL DEADLINES IN WESTCHESTER AMONG THE MANY BURDENS OWNERS FACE

Westchester’s high property taxes have been a concern for most commercial owners for as long as anyone can remember. High millage rates, over-inflated assessed val ues and court-based assessment review proceedings (commonly known as “tax certioraris”) that typically extend for sev eral years, are hallmarks of Westchester property taxes and are among the great est burdens of owning any type of real estate asset.

Particularly for owners of multiple properties, a challenge lies simply in the sheer variety of deadlines for notifying a jurisdiction of an assessment protest. These deadlines are strict and absolute: miss the deadline by just one day and an

owner has generally lost the right to chal lenge that year’s assessment forever. One cannot reach back in time and there is no forgiveness offered no matter the circum stances. It is common to find properties that are over-assessed by more than 20%, and sometimes significantly more, with generally no downside to filing a chal lenge. Missing the opportunity to get your property tax corrected can be extremely costly.

In most of the United States, each state’s property tax appeal filing deadline is fairly uniform throughout the state. With a few exceptions, usually for cities, the majority of counties in New York north of New York City adhere to a single deadline in May of each year to begin a protest with

the Board of Assessment Review.

Not so in Westchester. For example, a property owner here would need to know that in White Plains, an assessment challenge must be filed in January while in Yonkers it must be filed in November. Some jurisdictions actually move their deadline from year to year, literally creat ing a moving target. In many of the towns of Westchester, the challenge must be filed in June, but in villages the deadline is in February. Speaking of villages, to make things more confusing, a property that sits in a village would also sit within a town, resulting in two entirely different filing deadlines for the same property — unless it happens to be a village that does not maintain a separate assessment roll.

You would only know that by making in quiry at the assessor’s office.

Paying exorbitant real estate taxes is burdensome — particularly for some prop erties like hotels, retail stores and office buildings that have been especially hard hit during the pandemic — but owners are cautioned to be especially vigilant about monitoring and confirming the correct deadline that applies to each property. The consequences of ignorance fall di rectly to the bottom line.

David C. Wilkes, CRE, FRICS, an at torney, is a senior-level partner in the tax certiorari practice at Herman Katz Cangemi Wilkes & Clyne LLP, with offices in Westchester, Manhattan and Long Is land.

INVESTIGATING EMPLOYEE MISCONDUCT AND DEFENDING CLAIMS OF WRONGFUL TERMINATION

With wrongful termination law suits on the rise across many industries, it has become more important than ever for employers to conduct thorough and well-document ed investigations of alleged employee misconduct before deciding whether to impose disciplinary measures against an employee. This point was recently con firmed by the Second Department’s deci sion in Daniel Hutting v. Independent Liv ing, Inc., _ A.D.3d _ (2d Dep’t Oct. 13, 2021), an appeal successfully argued on behalf

of the defendant employer by Bleakley Platt partner Joseph DeGiuseppe Jr.

In Hutting, the employer, Independent Living, Inc. (ILI), a nonprofit corporation, had dismissed the plaintiff from his man agerial position after 14 years of employ ment because two of his subordinates had reported his request that they sign falsi fied gas expense reimbursement vouch ers as their own, when in fact they were for expenses incurred by the plaintiff dur ing his unauthorized use of ILI vehicles.

ILI conducted a well-documented in

vestigation of the reported misconduct, which included thorough review of rele vant documentation and the taking of wit ness statements, including the statement of Mr. Hutting himself. Based upon the findings of its investigation, ILI decided that termination of Mr. Hutting’s employ ment was fully justified.

Following his dismissal, the plaintiff commenced an action alleging that his fir ing was motivated by sexual orientation discrimination, and additionally that it was retaliatory in nature following his use

of Family Medical Leave. Affirming the decision of the lower court, the Second Department upheld the dismissal of all claims, noting that ILI had proffered un rebutted evidence of legitimate, nondis criminatory reasons for its termination of the plaintiff’s employment and by demon strating the absence of material issues of triable fact as to whether its explanations were pretextual. The evidence marshaled during ILI’s investigation of the plaintiff’s misconduct, prior to termination of his employment, played a key role in dem onstrating the lawful, nondiscriminatory reasons for the plaintiff’s dismissal.

This case demonstrates once again the importance of thoroughly investigating employee misconduct and maintaining meticulous records of such investiga tions, including gathering signed witness statements if possible. Inasmuch as litiga tion may not always be foreseeable when an employee is terminated, good record keeping in the ordinary course is a pro phylactic measure that can be of immense importance in the event a claim of unlaw ful dismissal is later asserted.

Joseph DeGiuseppe is the head of the Labor and Employment practice group at Bleakley Platt & Schmidt, and handled the appeal in the Hutting case. He and other attorneys at Bleakley Platt have significant experience in handling internal investiga tions and in defending claims alleging workplace discrimination and wrongful termination. Bleakley Platt regularly ad vises hospitals and other health care pro viders in all legal areas, including labor and employment law.

KEANE & BEANE, P.C. – MOVING FORWARD

Keane & Beane, P.C. is pleased to have re opened its offices on an in-person work basis, while also continuing the use of remote platforms. We are proud to have provided uninterrupted service to our clients over the course of the pandemic and remain committed to meeting their needs in a safe and responsible manner.

Keane & Beane, P.C. is a multi-dimen sional law firm with practice areas in

business transactions, construction law, education law, elder law, environmental law, guardianships, insurance defense and civil rights, labor relations and em ployment law, land development and zoning, litigation and alternative dis pute resolution, municipal law, real es tate, trusts and estates litigation, trusts and estates, and utility siting and local rate-making. Our team of outstanding

individuals, families, school districts, municipalities and non-

best of two worlds:

breadth

depth of professionals and practice

usually found only at large law firms, plus the accessibility, personalized service, and loyalty associated with smaller ones.

Keane & Beane, P.C.’s ability to carry on

amidst the disruption cast by COVID-19 has been possible because we are far more than a collection of lawyers work ing under a common banner. Our at torneys work on a collaborative basis recognizing that every client is a Keane & Beane. P.C. client deserving of our collec tive talents.

Keane & Beane, P.C. is also proud to have remained committed to commu nity service over the past year and has endeavored to continue its support for organizations serving those in need.

SUPPORTERS

BLEAKLEY PLATT & SCHMIDT, LLP

One North Lexington Ave.

White Plains, NY 10601

914- 949-2700 .bpslaw.com

THE CAPPELLI ORGANIZATION

7 Renaissance Square, Fourth floor

White Plains, NY 10601 914-769-6500 icappelli.com

THE CHELSEA AT GREENBURGH

715 Dobbs Ferry Road

Greenburgh, NY 10607 914-275-0010 chelseaseniorliving.com

CUDDY & FEDER LLP

445 Hamilton Ave., 14th Floor

White Plains, NY 10601 914-761-1300 cuddyfeder.com

HERMAN KATZ CANGEMI

WILKES & CLYNE

120 White Plains Road, Suite 125 Tarrytown, NY 10591 914-631-1500 hermankatz.com

HOULIHAN LAWRENCE

COMMERCIAL GROUP

800 Westchester Ave.

Rye Brook, NY 10573 914-220-4411 Houlihanlawrence.com

KEANE & BEANE PC

445 Hamilton Ave., Suite 1500

White Plains, NY 10601 914-946 4777 kblaw.com

PKF O'CONNOR DAVIES

500 Mamaroneck Ave. Harrison, NY 10528

914 -381-8900 Pkfod.com

RM FRIEDLAND

440 Mamaroneck Ave., #504 Harrison, NY 10528 914-968-8500

rmfriedland.com

SCULLY CONSTRUCTION LLC

141 Lafayette Ave.

North White Plains, NY 10603 914-682-8088 scullycorp.com

SILVERMAN REALTY GROUP, INC.

237 Mamaroneck Ave.

White Plains, NY 10605 914-683-8000 silvermanrealty.com

TRI-STATE INSURANCE

277 Tarrytown Road

White Plains, NY 10607 914-607-7799 tsinsbk.com

WHITE PLAINS HOSPITAL

41 E. Post Road

White Plains, NY 10601 914-681-0600 wphospital.org

Businesses Thrive in White Plains

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FOR SALE OR LEASE

99 CHURCH

Assisted Living & Memory Care E n h a n c e d C a r e ~ C o m p a s s i o n a t e S u p p o r t

The Chelsea at Greenburgh has been a godsend for our family This absolutely beautiful venue is such a welcoming haven for our mother and for our family each time we visit. We always wanted our loving mother to transition to a place that is welcoming, caring and safe. We found this at The Chelsea at Greenburgh. The amazing staff members are so supportive. Our mother thoroughly enjoys the variety of engaging events each day plus the social aspect ~Joan B