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A Practitioner’s Guide to Understanding Interest

April 12th, 2017 While prohibited in some religious traditions,1 interest is one of the most pervasive concepts in the American economy. Seemingly simple on its surface, it presents a bewildering amount of complexity as soon as one digs into its legal implications. Real Estate practitioners must know the rules of interest when negotiating a mortgage  Full Article…

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The Sound and the Fury: Noise in Rentals, Co-ops and Condos

By Adam Leitman Bailey and Dov Treiman As New York City experiences ever denser housing, the problems of noise resound ever more clearly. The noise has gotten louder for many reasons. First more families have chosen to reside in this city and one of the loudest and unrepresented group of violators has been screaming children.  Full Article…

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Residential Leases Now Require Sprinklers

By Adam Leitman Bailey January 2015 Effective December 3, 2014, all residential leases in New York State now require a notice to residential tenants about the presence of absence of sprinkler systems in the “leased premises.” The new law, however, while defining what a sprinkler system is, does not define what a “lease” is or  Full Article…

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The Rules for Allowing Pets in ‘No-Pet’ Buildings

April 13th, 2016 By Adam Leitman Bailey and John M. Desiderio When determining whether an owner’s pet qualifies for admittance in a “no-pet” building, cooperatives and condominiums must be extremely careful to follow the federal, state, and city fair housing laws governing how far a board can go when investigating and denying an animal’s entrance.  Full Article…

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Understanding Single-Room Occupancy Laws

February 10, 2016 Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the owner may be required to maintain  Full Article…

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Understanding Single-Room Occupancy Laws – Part II

By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated  Full Article…

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Understanding Single-Room Occupancy Laws

February 3, 2016 Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the owner may be required to maintain  Full Article…

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Old and New Loft Law Rules: What You Need to Know

By Adam Leitman Bailey and Dov Treiman Q: What is a loft? A: The word “loft” has no legal meaning. The word “loft” is used in several laws and in the naming of The New York City Loft Board which was set up for the purpose of taking illegal residential tenancies in buildings that were  Full Article…

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