A major publicly traded company holding numerous New York properties came to ALBPC with a dilemma. Its landlord at a building in a major up and coming neighborhood alleged that the company had been neglecting the rental property for decades. As a result, the landlord was declaring forfeiture of the right to rent the property Full Article…
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No Help for Jilted Sellers as Court Sticks With Precedent
n White v. Farrell,1 the New York Court of Appeals ruled that the measure of damages for a buyer’s breach of a contract to sell real property, where the contract does not contain a liquidated damages clause as the seller’s exclusive remedy,2 is the difference between the contract price and the fair market value of the property on Full Article…
Adam Leitman Bailey, P.C. Helps Shareholders Regain Control of Their Building
In a recent matter, Adam Leitman Bailey, P.C. counseled a group of concerned shareholders in removing an incumbent Board of Directors of a prestigious Manhattan cooperative. A group of concerned shareholders of a prestigious Manhattan cooperative were challenged and frustrated by an incumbent Board. The Board’s lack of truthfulness and transparency, unilateral decision-making, and failure Full Article…
Breaking Bad: Dealing with Rule Breakers
By Adam Leitman Bailey, Leonard Ritz and Dov Treiman Jan. 15, 2013 — In the aftermath of superstorm Sandy, many condo and co-op board members have been facing unprecedented challenges, with little experience to guide them. In the first of two installments today, three leading attorneys answer eight questions at the top of every affected board Full Article…
Post-Sandy: Three Attorneys’ Plain-English Guide for Co-op & Condo Boards
By Adam Leitman Bailey, Leonard Ritz and Dov Treiman Jan. 15, 2013 — In the aftermath of superstorm Sandy, many condo and co-op board members have been facing unprecedented challenges, with little experience to guide them. In the first of two installments today, three leading attorneys answer eight questions at the top of every affected board Full Article…
Adam Leitman Bailey, P.C. Protects Mortgage Security for JPMorgan Chase Bank, N.A.
Adam Leitman Bailey, P.C. successfully protected JPMorgan Chase Bank, N.A.’s (“Chase”) security interest in a condominium unit on Lorimer Street in Brooklyn by tracking down the seemingly lost original mortgage, along with the original underlying deed and transfer documents, and successfully ensuring the expedited recordation of all. On December 21, 2011, the original documents were Full Article…
Adam Leitman Bailey, P.C. Resolves Credit Report Mix Up at the Closing Table
Adam Leitman Bailey, P.C. recently represented a lender on a residential mortgage refinance where the borrower had an extremely common first and last name. The borrower was 82 years old and desperately needed to refinance for a lower rate. On the day of closing a last minute condition was sent by an underwriter for the Full Article…
The Metamorphosis of the Environmental Control Board
By Adam Leitman Bailey and Dov Treiman When coauthor of this article (Bailey) learned how to conduct real estate trials as a young lawyer in Supreme and Civil Courts, the Environmental Control Board (ECB) was where he spread his wings as a trial attorney. While other practitioners joked that the place was a kangaroo court Full Article…
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