By Adam Leitman Bailey and Brandon M. Zlotnick Adam Leitman Bailey, P.C. successfully represented a longtime client, which manages over properties in Manhattan, during the course of an investigation by the Office of the New York State Attorney General (“OAG”). The client has produced responses to a subpoena served by the OAG in early 2024, Full Article…
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Cooperative Board Minutes Minimum Requirements to Reject a Cooperative Purchase Application
By Adam Leitman Bailey and John M. Desiderio How is a co-op applicant to know whether a rejection decision was made for legitimate corporate purposes, or because of one or more board members’ unlawful motivations? The first place to look would be the co-op’s minutes of its board meetings. Adam Leitman Bailey and John Desiderio Full Article…
The High Cost of Ignoring Habitability
By Steven R. Wagner, Of Counsel, Adam Leitman Bailey ERIC BATT, AS ADMINISTRATOR OF THE ESTATE OF ROBIN SIEGAL V 77 BLEEKER STREET CORP., ET AL. WHAT HAPPENED In 2014, two leaks within seven months damaged Robin Siegal’s co-op apartment and its contents. One leak was from a sprinkler head that froze and burst in Siegal’s Full Article…
Whether Co-op Boards Can Reject Purchasers for a ‘Too Low’ Sales Price
Adam Leitman Bailey and John Desiderio discuss ‘Stromberg v. East River’ which provides new guidance on when co-op boards may consider sale price in rejecting a purchaser without losing protection under the business judgment rule. In 2022, in a prior article, the authors concluded: “Until there is a clear holding by an appellate court that Full Article…
When Is a Breach of a Real Estate Contract ‘Material’?
Adam Leitman Bailey and John M. Desiderio explain how New York courts decide whether a buyer’s or seller’s failure to meet a real estate contract obligation is a “material” breach that justifies remedies such as forfeiture of a deposit, rescission, or specific performance. Whether a default is deemed “material” often determines whether a purchaser forfeits Full Article…
Establishing ‘Time Is of the Essence’ and Performing at a ‘Time Is of the Essence’ Closing
As the authors noted in our first article on Time of the Essence (TOE) Closings, “real estate closings may be the most basic and common real estate experience, but the familiarity ends once a provision of the contract of sale has been breached.” See Bailey and Desiderio, Enforcing the Contract—Obtaining Down Payment or Specific Performance (New York Law Full Article…
Recovering Damages From Water Diversion
The history of real property law is replete with litigation over how one property owner’s assertion of its rights to control and adapt their property impacts their neighbors. These cases usually involve damage to a neighboring property resulting from acts of so-called trespass—which might better be termed a nuisance—one of the most common being damage Full Article…
One of the Bedrocks of Real Estate Transfers: The Statute of Limitations Cannot Be Extended By State Courts in New York
In their article, Adam Leitman Bailey and Jeffrey Metz discuss how, in New York, courts generally lack the authority to extend statutes of limitations, with only narrow exceptions permitting tolling which reinforces the importance of timely legal action in real estate matters. Real estate markets require certainty. Lenders, developers, and all real estate actors require Full Article…
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