Adam Leitman Bailey, P.C. was retained by the board of managers of a new construction condominium in Upper Manhattan to assist in getting the sponsor to fulfill its obligations pursuant to the condominium offering plan.
The building had recently turned over to resident control after the sponsor had majority control of the board of managers
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Adam Leitman Bailey, P.C. – The Inside View
A real (e)state of mind and dreams of the concrete jungle define the ambitious lawyers at this boutique, with prowess in “anything you could possibly think of in the real estate world.”
It’s a well-known fact that New York City boasts an impressive skyline, with the iconic Empire State Building, Rockefeller Center, and Chrysler
Foreclosure Abuse Prevention Act in a Nutshell
In 2022, the New York State Legislature enacted the Foreclosure Abuse Prevention Act (FAPA), thereby amending several interrelated provisions of the Civil Practice Law and Rules (CPLR), the Real Property Actions and Proceedings Law (RPAPL), and the General Obligations Law (GOL), which affect how and when the statute of limitations may be invoked by defaulting
Recently Passed Real Estate Nightmare Legislation
A review of some of the most noteworthy landlord-tenant related legislation of 2023 and early 2024 involving criminal background checks, stopping short-term tenancies, flood histories and rent regulation.
While readers with differing interests will disagree about the cost/benefit effects of recent enactments (both legislative and regulatory) regarding the landlord-tenant relationship, all can agree that these
One-Step Solution
When common-charge arrears keep piling up with no end in sight, condo boards typically make a motion to foreclose and then another to evict. But there’s a workaround you may not know about.
Slow going. When unit-owners fail to pay common charges after a notice to cure, condo boards commence an action similar to what
Limited Liability Company Transparency Act
On June 20, 2023, The New York legislature passed a bill called the LLC Transparency Act which would require the beneficial owners of limited liability companies (“LLC”) to disclose their identities. This disclosure of information could then be found in a newly created, public searchable database maintained by New York’s secretary of state.
Governor Hochul
New York Landlord Obligations in Notifying Residential Tenants of Flood Risk, History, and Insurance
Effective June 21, 2023, New York State Real Property Law (Section 231-B) has been amended to require landlords to disclose specific information regarding flood risk and history directly through their residential lease agreements. The statute covers residential leases, encompassing cooperative apartments, condominiums, and rental buildings. Additionally, landlords must include a notice in the lease about
Who Bears Responsibility for Required Condo/Co-Op Apartment Repairs?
In cases where building management and the unit owner disagree on who bears responsibility for making the repairs and/or who bears the repair costs, the attorney’s role, whether in representing the cooperative or condominium board on the one side or the opposing apartment shareholder or condominium residential or commercial unit owner on the other, is
Local Law 107: Landlords On The Hook For Unlicensed Smoke Shops
Local Law 107 was recently enacted to prohibit owners of commercial spaces from knowingly leasing to unlicensed sellers of marijuana or tobacco products, and imposing fines of up to $10,000 on landlords for violations. This new legislation is in response to the explosion of unlicensed smoke shops in NYC – currently there are an estimated
Understanding the Anti-Harassment Housing Laws in NYC
For the first time since the passage of the first anti-harassment housing law, a comprehensive review of those laws and their applicability, purpose, penalties, and dates of effectiveness have been explained and analyzed in detail. The authors have sought to educate practitioners and their clients on this vastly misunderstood body of law. One of the