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Finding Individual Liability for Sponsor’s Principals And Sponsor’s Waiver of The Notice Requirement Under The Offering Plan

Recently, in The Board of Managers of 266 West 115th Street Condominium v. 266 West 115thStreet, LLC, et al., 2014 NY Slip Op 33047 (Sup. Ct. 2014) – a precedent-setting decision on two separate issues – the New York State Supreme Court held that: (i) the principal of a Sponsor can be found to be personally  Full Article…

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Navigating Buyers and Developers Through New Construction Deals, New York Law Journal

By Adam Leitman Bailey and John M. Desiderio May 3rd, 2010 In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing  Full Article…

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Making New Law, Adam Leitman Bailey, P.C., Obtains A Victory For Homeowners Association

In a case of first impression, Adam Leitman Bailey, P.C., attorneys obtained a victory that could benefit homeowners associations throughout New York.  The issue in the case was whether the Board of Directors of a homeowners association – a residential development located in Arverne, Queens County, New York, which consists of 121 privately deeded homes  Full Article…

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Standing to Sue Sham Condo, Co-Op Sponsors Changed, New York Law Journal

By Adam Leitman Bailey and John M. Desiderio Kramer v. W10Z/515 Real Estate Ltd. Partnership, 1 a recent decision of the Appellate Division, First Department, is a case of great importance to purchasers of new condominium and cooperative apartment units. In a sweeping opinion, the court completely overhauled, if not expressly overruled, a line of  Full Article…

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