February 3, 2016 Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the owner may be required to maintain Full Article…
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How to Revise Governing Documents
November 2015 The board had decided to revise its bylaws and proprietary lease. Now what? It is a familiar story: the co-op corporation’s bylaws and proprietary lease were antiquated. Both documents were poorly drafted, rife with internal inconsistencies and conflicts with current law. There were no longer relevant provisions regarding the original sponsor, and they Full Article…
The State of Cooperative and Condominium Law in 2015
December 30, 2015 By Adam Leitman Bailey and Dov Treiman The greatest changes in cooperative and condominium law this past year did not come from the Legislature or from the courts but from the New York Attorney General’s office (NYAG). This article will review some of those changes and the most significant appellate cases affecting Full Article…
Principal Of A Sponsor May Be Held Separately Liable Where It Executes The Certification
New York Law Journal March 18th, 2015 By Scott E. Mollen Condominiums—Alleged Construction Defects -Since Sponsor Made Repeated Repairs, There Was A Triable Issue of Fact As to Whether and to What Extent Sponsor Waived the Offering Plan’s Written Notice Requirement A CONDOMINIUM Board of Managers (board) commenced an action against a sponsor-developer (sponsor) of Full Article…
Fair-Market Tenants and Condominium Conversions
A recent newspaper article reports that between 2009 and 2012, a total of 117 rental buildings in Manhattan and Brooklyn were converted to cooperative or condominium ownership.1 Many of the units contained therein were deregulated. This article explores what rights tenants of these units have vis-à-vis rent-regulated tenants when a building is being converted, if and Full Article…
Finding Individual Liability for Sponsor’s Principals And Sponsor’s Waiver of The Notice Requirement Under The Offering Plan
Recently, in The Board of Managers of 266 West 115th Street Condominium v. 266 West 115thStreet, LLC, et al., 2014 NY Slip Op 33047 (Sup. Ct. 2014) – a precedent-setting decision on two separate issues – the New York State Supreme Court held that: (i) the principal of a Sponsor can be found to be personally Full Article…
Setting New Precedent, ALBPC Obtains A Victory for Condominium Board
In The Board of Managers of 266 West 115th Street Condominium v. 266 West 115th Street, LLC, et al., Index No. 159552/2014 [Sup Court, NY County 2013], a precedent-setting decision, Adam Leitman Bailey, P.C. obtained a victory that could benefit Condominiums throughout Manhattan. The following two critical issues were presented in this case: (i) whether Full Article…
New Sprinkler-Notification Law Could Require Reissuing Proprietary Leases
By: Frank Lovece December 26th, 2014 A New York State law that went into effect Dec. 3, requiring all residential leases to contain a notice about the building’s sprinkler system, appears to mandate that even co-op proprietary leases must be amended to reflect the language change. The new law also impacts leases offered by condominium Full Article…
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