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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Understanding Single-Room Occupancy Laws – Part II
By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated Full Article…
Understanding Single-Room Occupancy Laws – Part I
By Adam Leitman Bailey and Dov Treiman Part I 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 Full Article…
Commercial Tenant Harassment in New York City—Questionable Medicine
October 25th, 2016 By Adam Leitman Bailey and Dov Treiman Effective September 26, 2016, New York City adopted an ordinance giving commercial tenants a cause of action against their landlords for “harassment.” Clearly modeled on a similar law adopted in favor of residential tenants some few years ago, the authors of this bill may not Full Article…
Understanding Single-Room Occupancy Laws – Part II
By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated 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…
What You Must Know When Negotiating a Laundry Room Contract, New York Housing Journal
By Adam Leitman Bailey and Dov Treiman April 1st, 2009 It’s amazing how good building owners and managers are at increasing and garnering revenue from residential tenants while at the same time leaving themselves to the will and whim of laundry room operators who impose contracts lasting for decades with automatic renewals, rights of first Full Article…
Q & A: Can a Seller Dictate the Down Payment?, The New York Times
By Adam Leitman Bailey July 10th, 2008 Q. Some apartment sales in New York City require a certain percentage as a down payment — often 10 percent. Isn’t this a decision made by the bank providing the mortgage? Does the seller have a say in this? A. In New York City, “the down payment, also Full Article…
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