It is crucial for both the prospective purchaser and prospective seller in a real estate transaction to understand the contract of sale as it relates to both the financial terms of the transaction and the respective obligations of the parties pursuant to the terms of the agreement. Parties to a real estate transaction have traditionally Full Article…
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Adam Leitman Bailey, P.C. Successfully Defeats Motion to Dismiss Condominium Unit Owner’s Claims Related to Defective Plumbing
A recent decision from the Appellate Division, First Department has upheld breach of fiduciary duty and breach of contract claims brought by a condominium unit owner against the Condominium’s (the “Condominium’s”) Board of Managers (the “Board”). Adam Leitman Bailey P.C.’s client, the owner of a condominium apartment in Manhattan, commenced an action against the Board in Full Article…
Adam Leitman Bailey, P.C. Wins Summary Judgment and Dismissal of Prior Owner’s Affirmative Defenses in Highly Contested Post-Foreclosure Eviction Proceeding
Representing the purchaser of a single-family Queens home after foreclosure, Adam Leitman Bailey, P.C. won summary judgment and dismissal of affirmative defenses with a judgment and warrant of eviction against the prior owner following a foreclosure sale. We commenced the summary eviction proceeding by filing a holdover petition after serving the prior owner with a requisite notice Full Article…
Adam Leitman Bailey, P.C. Obtains Payment of Commission for Real Estate Salesperson
Adam Leitman Bailey, P.C. obtained payment by a real estate brokerage of commissions owed to a real estate salesperson as a result of his involvement in a sale of property that had generated millions of dollars in commissions to the brokerage. The salesperson had assisted in locating a purchaser for the property in a new, Full Article…
Changes to the Peconic Bay Tax
The five East End towns of the Peconic Bay Region in Suffolk County, New York are East Hampton, Shelter Island, Southampton, Riverhead, and Southold. When purchasing a home in this region, a purchaser will pay a one-time transfer tax called the Peconic Bay Region Community Preservation Fund (or CPF), (“Peconic Bay Tax”). Up until recently, Full Article…
No Time to Waste: Adam Leitman Bailey, P.C. Expeditiously Stops Condominium Board From Forcing Impermissible Conditions Upon Right of First Refusal Waiver’s Issuance
French philosopher Simone de Beauvoir famously remarked “[t]here is something in the New York air that makes sleep useless.” That maxim is particularly resonant in the intense world of real estate disputes, especially when a condominium or coop’s board of managers engages in obstructionist behavior that, if not swiftly addressed, can quickly decimate a high-value sale. A recent engagement handled by Adam Leitman Bailey, P.C.’s senior litigation team demonstrates how the firm’s ability to deploy Full Article…
Adam Leitman Bailey, P.C. Settlement Negotiations Save NYC Owner Hundreds of Thousands of Dollars in Rent Overcharge Class Action Case
Since the surge of tenant class action rent overcharge cases began circa 2017, Adam Leitman Bailey, P.C., has defended a number of the targeted NYC owners of buildings who participated in the J-51 tax exemption and abatement program and did not, for one reason or another, immediately re-regulate units after the 2009 Court of Appeals Full Article…
Adam Leitman Bailey, P.C. Achieves Favorable Settlement of Construction Defects Claims Against a Sponsor
Plaintiff, a unit owner at a Queens County condominium, brought an action against the Sponsor and the Sponsor’s managing agent, asserting the following causes of action against the Sponsor, relating to the allegedly defective construction of the Plaintiff’s unit: (1) breach of contract; (2) breach of warranty; (3) breach of the NYC noise code; and Full Article…
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