November 4, 2015 Q: In J51 housing, can a preferential rate be adjusted as part of a renewal? A: In J51 buildings for the past 40 years, if the FIRST tenant gets a “preferential” rent, there’s nothing preferential about it. The owner has given up the right to the higher rent forever. Under Rent Stabilization Full Article…
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Q&A: Parking Spaces for the Disabled
Q. My question refers to how many handicapped parking spaces must reserved in a particular co-op or a condo. Is there any legal requirement to set aside a certain number of spaces? Must a multiple dwelling with parking spaces used exclusively on an accessory basis by residents of the building set aside handicapped parking spaces Full Article…
Offering Buyouts After NYC’s Anti-Buyout Legislation
By Dov Treiman October 7, 2015 Effective Dec. 2, 2015, there will be several amendments to the NYC Administrative Code with respect to landlords making buyout offers. Some of these amendments will call for changed practices. Others will call for the development of a form. No matter what, landlords are going to have to change Full Article…
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 Full Article…
The Most Significant Title and Foreclosure Cases of 2015
October 14, 2015 By Adam Leitman Bailey and Dov Treiman Since one author, Adam Leitman Bailey, started practicing law 20 years ago, when a terrible court decision without any basis in law would arrive, we would be thankful that the Court of Appeals was in session and had the final word. Those days are gone Full Article…
Important Questions and Answers on the New and Old Rules of the Loft Law
Fall 2015 By Adam Leitman Bailey and Dov Treiman Q1. What is a loft? A1. The word “loft” has no legal meaning. The word “loft” is used in several laws and in the naming of The New York City Loft Board which was set up for the purpose of taking illegal residential tenancies in buildings Full Article…
Pitfalls for Buyers: Careful Drafting, Detailed Inquiries Minimize Risk
By: Adam Leitman Bailey & Dov Treiman January 30th, 2008 Recent case law demonstrates that buyers of residential property with rent-regulated units have been blind-sided by financial risks arising from their attorneys’ ignorance of rent regulatory laws. Although many of these cases go unreported, the recent decision of Newport Partners v. DHCR,1 is typical of 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…
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