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When Email Exchanges Become Binding Contracts

August 8, 2017 by Adam Leitman Bailey and John Desiderio In Stonehill Capital Management v. Bank of the West, 28 NY3d 439 (2016), the New York Court of Appeals held that an agreement to sell a distressed loan, in the auction loan trading market, was enforceable without the execution of a formal written contract. While  Full Article…

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The Sound and the Fury: Noise in Rentals, Co-ops and Condos

By Adam Leitman Bailey and Dov Treiman As New York City experiences ever denser housing, the problems of noise resound ever more clearly. The noise has gotten louder for many reasons. First more families have chosen to reside in this city and one of the loudest and unrepresented group of violators has been screaming children.  Full Article…

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The State of the Business Judgment Rule Appellate Court Rulings By Adam Leitman Bailey

February 2016 By Adam Leitman Bailey   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 cooperatives and condominiums.  Full Article…

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Court Clarifies Condo Owners’ Right to Inspect

December 20, 2016 By Adam Leitman Bailey and John M. Desiderio In their Condominium Law column, Adam Leitman Bailey and John Desiderio discuss the recent First Department case ‘Pomerance v. McGrath,’ in which the court has clarified the rights of condominium owners to inspect management books and records. In its 2013 decision in Pomerance v.  Full Article…

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Seven Secrets to Drafting An Effective Commercial Lease Default Lease

An effective commercial lease will dictate the future relationship between landlord and tenant. The more clauses forcing the commercial tenant to comply with its obligations, the better chance the landlord will have in not only have a successful relationship but also ensuring that the rent is paid and the tenant behaves. Below are some of  Full Article…

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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…

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Attorneys Answer Six More Questions Boards Have About Superstorm Sandy, Habitat Magazine

By Adam Leitman Bailey, Leonard H. Ritz and Dov Treiman Jan. 15, 2013 — In this second of two installments, leading real-estate attorneys answer more condo and co-op board members have been asking about what’s expected of them and of shareholders / unit-owners in the terrible aftermath of superstorm Sandy. Q: Does the Board have  Full Article…

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Finding Individual Tort Liability for Cooperative and Condominium Board Members, the Appellate Division Takes a Large Scalpel to Business Judgment Rule, Thompson Reuters News & Insight

By Adam Leitman Bailey, John M. Desiderio (Adam Leitman Bailey is the founding partner of Adam Leitman Bailey P.C., and John M. Desiderio is Chair of the firm’s Real Estate Litigation Group. Colin E. Kaufman, another firm partner, contributed to the insurance issues discussed in the article.)  Recently, the Appellate Division First Department, in Fletcher  Full Article…

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