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…
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Navigating Buyers and Developers Through New Construction Deals, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio May 3rd, 2010 In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing Full Article…
Making New Law, Adam Leitman Bailey, P.C., Obtains A Victory For Homeowners Association
In a case of first impression, Adam Leitman Bailey, P.C., attorneys obtained a victory that could benefit homeowners associations throughout New York. The issue in the case was whether the Board of Directors of a homeowners association – a residential development located in Arverne, Queens County, New York, which consists of 121 privately deeded homes Full Article…
Standing to Sue Sham Condo, Co-Op Sponsors Changed, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio Kramer v. W10Z/515 Real Estate Ltd. Partnership, 1 a recent decision of the Appellate Division, First Department, is a case of great importance to purchasers of new condominium and cooperative apartment units. In a sweeping opinion, the court completely overhauled, if not expressly overruled, a line of Full Article…
The Newly Constructed or Converted Condominium, The Cooperator
By Adam Leitman Bailey and John M. Desiderio At the height of the housing boom, some builders attempted to recapture profits lost in the price they paid for their properties by cutting costs spent on labor and materials, and many others could not find good contractors or obtain low prices for building materials. At the Full Article…
Harnessing the Internet, New York Law Journal
By Adam Leitman Bailey and Colin E. Kaufman The World Wide Web has changed real estate law forever. Harnessing the massive amounts of information on the Internet to enhance the practice of real estate law has become essential for every dirt lawyer. New York’s state and city governments have created useful Web sites to assist Full Article…
Adam Leitman Bailey Recommends a Change to Cooperatives’ Corporate Documents for Habitat Magazine 2007 Attorney Survey
By Adam Leitman Bailey House rules and the proprietary lease are crucial elements in ensuring that a building runs properly. They create governing policy. Yet enforcement can become a difficult affair. You don’t want to be too harsh, nor do you want to be so lenient that the policy becomes meaningless. It is, in effect, Full Article…
Q & A: When a Stabilized Unit is Not the Sole Residence, The New York Times
By Adam Leitman Bailey Q. In 1999, I leased a rent-stabilized apartment in a building owned by my employer. My employer was fully aware that I had a residence in another state and would be using the apartment about 10 days a month while on company business.
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