The rise of short-term rentals using Airbnb changed the real estate market in countless ways. A few downsides included a steady stream of strangers passing through the building. Often on vacation with little need to build relationships with neighbors, they could be...
Real estate litigation
Flood zone properties see lower prices and fewer sales
Unless they see it as part of their daily routine, New Yorkers tend to forget that the city is surrounded by water. If this is the case, blunt reminders often occur when extreme weather events like hurricanes or record rainfalls flood streets, subways and garden-level...
3 options for collecting arrears in condo common charges
For condo owners, common charges not only pay for the upkeep and maintenance of the building but for all of the amenities and services the building offers. Whether due to different priorities, lack of funds or forgetfulness, condo owners sometimes fail to pay common...
What should appear in co-op or condo bylaws?
The smooth operation of a New York City cooperative or condominium requires the oversight of a qualified board of directors or managers. Bylaws, in large part, provide the legal authority the board members use to make decisions that guide the future of the building,...
Can co-op/condo boards assess fees to their residents if a commercial tenant vacates?
The economy is way down in 2020 as businesses close up for good or shift to working from home. This is terrible news for all, but co-ops and condos who have commercial tenants who pay a large share of the operating expenses face substantial shortfalls of income that...
Avoiding condo and co-op discrimination claims
Co-op boards in New York City must be aware of the Federal, State and City laws about housing discrimination. Knowledge of these regulations can help the board avoid serious problems if a potential buyer files a discrimination claim or if an issue arises with building...
Condo board membership and fiduciary duty
When unit owners of a condominium or shareholders of a co-op elect members to a board of managers or directors, they entrust those members with a great deal of power. From handling association finances to developing and enforcing property regulations, board members...
Can a Child Occupy a Co-op Apartment if the Parent Shareholder Is Not in Residence?
Can a cooperative shareholder’s family member reside in their apartment without the named shareholder living there? New York appellate courts (who review decisions from lower courts and whose opinions control future lower court decisions) have differed in answering...
Holder of Unsold Share Status Struck Down
A decision of the Appellate Division, 1st Department issued at the end of February 2019 may be a real game changer for cooperatives that have individuals who own units as holders of unsold shares. In a brief decision in Pastena vs. 61 West 62nd Street (Read decision...
What to do when you receive an eviction notice in NYC
As a renter, one of the worst things that can happen to you is receiving an eviction notice. When you get the news that your landlord is beginning the eviction process, you likely feel a sense of dread and confusion. But know that all hope is not lost. You may be able...