The five East End towns of the Peconic Bay Region in Suffolk County, New York are East Hampton, Shelter Island, Southampton, Riverhead, and Southold. When purchasing a home in this region, a purchaser will pay a one-time transfer tax called the Peconic Bay Region Community Preservation Fund (or CPF), (“Peconic Bay Tax”). Up until recently, Full Article…
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No Time to Waste: Adam Leitman Bailey, P.C. Expeditiously Stops Condominium Board From Forcing Impermissible Conditions Upon Right of First Refusal Waiver’s Issuance
French philosopher Simone de Beauvoir famously remarked “[t]here is something in the New York air that makes sleep useless.” That maxim is particularly resonant in the intense world of real estate disputes, especially when a condominium or coop’s board of managers engages in obstructionist behavior that, if not swiftly addressed, can quickly decimate a high-value sale. A recent engagement handled by Adam Leitman Bailey, P.C.’s senior litigation team demonstrates how the firm’s ability to deploy Full Article…
Adam Leitman Bailey, P.C. Settlement Negotiations Save NYC Owner Hundreds of Thousands of Dollars in Rent Overcharge Class Action Case
Since the surge of tenant class action rent overcharge cases began circa 2017, Adam Leitman Bailey, P.C., has defended a number of the targeted NYC owners of buildings who participated in the J-51 tax exemption and abatement program and did not, for one reason or another, immediately re-regulate units after the 2009 Court of Appeals Full Article…
Adam Leitman Bailey, P.C. Achieves Favorable Settlement of Construction Defects Claims Against a Sponsor
Plaintiff, a unit owner at a Queens County condominium, brought an action against the Sponsor and the Sponsor’s managing agent, asserting the following causes of action against the Sponsor, relating to the allegedly defective construction of the Plaintiff’s unit: (1) breach of contract; (2) breach of warranty; (3) breach of the NYC noise code; and Full Article…
Adam Leitman Bailey, P.C. Defeats Order to Show Cause Seeking to Stay Housing Court Eviction Proceeding
The clients – an elderly mother and her middle-aged son – came to Adam Leitman Bailey, P.C. in a very precarious and complicated situation. They were in the midst of a contentious family dispute related to the decade-long ownership of the clients’ property in Brooklyn. The clients, who are the mother and half-brother of the Full Article…
Adam Leitman Bailey, P.C. Revives Judgment Resulting in Clients Recovering Over $2.5 Million from Former Friend
In a friendship gone bad, Adam Leitman Bailey, P.C. was retained by clients (“Plaintiffs”) who had a Judgment of Foreclosure and Sale (“JFS”) that was over five years old. The Plaintiffs were not traditional lenders but rather were assigned the JFS and the underlying loan when their former friend (“Defendant”) requested a gigantic favor from Full Article…
FHA Loans
Multiple clients have recently inquired about FHA Loans. FHA loans are mortgages insured by the Federal Housing Administration of our government, and may be used to finance a primary residence. Homebuyers, especially first time, may explore this type of mortgage when they do not qualify for a conventional mortgage. FHA loans can be helpful in Full Article…
Adam Leitman Bailey, P.C. Massively Reduces Alteration Fee Penalties Totaling Over 1 Million Dollars for Central Park West Apartments
Adam Leitman Bailey, P.C.’s client, a co-op owner of two adjoining luxury apartments facing Central Park West, undertook a major renovation nearly four years ago, and is only now being completed. The alteration rules of this co-op are very stringent, and in particular the Alteration Agreement imposed very stiff fines for late completion. Furthermore, the longer the completion delay, the faster pace Full Article…
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