A European woman and her young family sought to perform renovations to their cooperative apartment to expand the Building Code (“Building Code”), and submitted plans to the Board for review and approval. After multiple exchanges with the Board’s architect, the Board fully approved the renovations to the apartment, and the work went underway. Little did Full Article…
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Adam Leitman Bailey, P.C. Successfully Defeats Former Co-Op Board President’s Attempt to Enjoin Certification of Board Election Results and to Require New Election
Adam Leitman Bailey, P.C., secured a major victory for an incoming Cooperative Board defending against the former board president’s demands for a preliminary injunction to halt certification of election results in which she was ousted. After oral argument before the Queens County Supreme Court on the hotly contested dispute, the Court agreed with Adam Leitman Full Article…
Adam Leitman Bailey, P.C. Obtains $830,000 in Capital Grant Money for Mitchell-Lama Co-op
Adam Leitman Bailey, P.C. serves as general counsel to many condos and co-ops throughout the city, including Mitchell-Lama co-ops. The Mitchell-Lama program provides affordable rental and cooperative housing to moderate and middle-income families. Our co-op client had been interested in adding additional green space throughout the complex, including an outdoor garden area, outdoor fitness equipment, Full Article…
What Every Cooperative Must Know About Internal Revenue Code Section 216 (26 U.S.C. § 216)
Section 216 of the Internal Revenue Code concerns cooperative housing corporations and their tenant-shareholders. A cooperative housing corporation is a corporation with one class of outstanding stock and tenant shareholders that purchase ownership of stock in the corporation are entitled to occupy a house or unit in a building owned by the corporation for dwelling Full Article…
This Just In: CTA Reporting Requirement On Hold
Texas Court Grants NATIONWIDE Injunction Halting Enforcement of the Corporate Transparency Act Requirements Less Than One Month Before Reporting Deadline As we have advised all of our condo and co-op clients over the past year, the Corporate Transparency Act (CTA) became effective in January 2024. It required many businesses – including condos and co-ops – Full Article…
New Bedbug Disclosure Law in New York
By Bonnie Reid Berkow A new bill introduced in the New York State Assembly amends the real property law through the addition of section 235-j to establish a landlord and lessor’s duty to notify tenants and lessees of bedbug infestations within 24 hours of discovery. The justification for the amendment was stated as follows: Bedbugs Full Article…
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 Full Article…
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 a Full Article…
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