Adam Leitman Bailey, P.C. was retained by a Cooperative to pursue a defamation claim brought against a former Board member and a shareholder for posting and disseminating libelous and defamatory remarks against the Cooperative Board of Directors. The Defendants counterclaimed alleging “lack of probable cause” and “intimidation” and seeking unspecified damages. The Cooperative filed a Full Article…
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What is a PUD? (Planned Unit Development)
What is a Planned Unit Development (“PUD”)? This question has been coming up lately in the banking department at Adam Leitman Bailey, PC. It is important to understand what a PUD is when closing mortgages as there are certain steps a bank attorney must take to ensure the lender has perfected its lien accordingly. So, Full Article…
Precautions to Take for New Development and Sponsor Deals
New York City arguably has the most complex residential real estate transactions compared to other cities in the United States. Starting with numerous types of property available and its unique contract and due diligence process, to the examination and clearance of any potential title issues, and finishing with the actual closing. Each step of the Full Article…
Adam Leitman Bailey, P.C. Saves Client From Buying Unit that Would One Day Have Lost The Unit’s Windows
New development transactions pose an entirely different set of risks, benefits, and logistical challenges than a traditional re-sale. Many times, Purchasers enter a contract for a Unit that is not yet built, in a building without a financial history and potentially not yet cleared by institutional lenders for closing. These factors often cause confusion around Full Article…
Adam Leitman Bailey, P.C. Secures A Highly Favorable Settlement On Behalf Of New Home Buyers Against A Developer That Breached Its Own Option Contract
Buyers who purchase homes in new developments can face a myriad of potential problems from construction delays to workmanship issues. However, during the overheated upstate pandemic real estate rush, a new hazard arises when unscrupulous developers cancelled contracts in favor of better offers, which was the very situation faced by Adam Leitman Bailey, P.C.’s clients, who Full Article…
Adam Leitman Bailey, P.C. Defeats Application for Stay Pending Appeal, Defeats Renewal Motion, and is Awarded Judgment Of Foreclosure and Sale
In a foreclosure action being repeatedly delayed by the tactics of the Borrower, Adam Leitman Bailey, P.C. was retained to change in as counsel for Plaintiff and aggressively complete the action to a Judgment of Foreclosure and Sale. The 2015 action was originally dismissed in 2018 for Plaintiff’s failure to timely move for the appointment Full Article…
Adam Leitman Bailey, P.C. Successfully Navigates HUD Approval Process In Achieving Interest Rate Reduction Of A Senior Citizen Not-for-profit Housing Corporation’s Underlying Commercial Mortgage.
Adam Leitman Bailey, P.C. acts as general counsel to a not-for-profit housing company for senior citizens located in Brooklyn. The building in question was in dire need of various capital improvements and repairs, but with limited cash on hand to do so. The housing company sought to take advantage of pandemic-level interest rates to reduce Full Article…
De-Acceleration of Loan Found Valid to Defeat Statute of Limitation Defense Notwithstanding Word Processing Error In Stipulation of Discontinuance
In a mortgage foreclosure action where Adam Leitman Bailey, P.C. participated in the appeal to the Appellate Division, Second Department the lower court refused to grant the mortgagee summary judgment on its foreclosure complaint and for an order of reference finding that there was an issue of fact as to whether the claim was time Full Article…
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