New York City's real estate market has always been a dynamic beast, but the introduction of Local Law 18 in September 2023 sent shockwaves through the industry. This controversial legislation aimed to tackle the city's housing crisis by cracking down on short-term...
Renovating a condo or co-op unit in New York City can be complex, often governed by clearly defined guidelines set by the building's board. The board drafts these guidelines to ensure that renovations are carried out by licensed and insured contractors safely,...
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...
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...
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...
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,...
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...
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...
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 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...
