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…
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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…
Who Bears Responsibility for Required Condo/Co-Op Apartment Repairs?
In cases where building management and the unit owner disagree on who bears responsibility for making the repairs and/or who bears the repair costs, the attorney’s role, whether in representing the cooperative or condominium board on the one side or the opposing apartment shareholder or condominium residential or commercial unit owner on the other, is Full Article…
Adam Leitman Bailey Saves Upper East Cooperative From Forced NYU Combination With Neighboring University Building
To fall in love with where you live is one of life’s grandest gestures, finding peace and passion in the places you call home. For residents of New York, the city that glimmers day and night, it’s hard not to cherish the homes made among the glittering buildings. New York is a place so uniquely Full Article…
Adam Leitman Bailey, P.C. Successfully Defeats Motion for Contempt Brought by Condominium Board of Managers Against Aggrieved Unit Owner
In a highly contentious dispute between the board of managers of a condominium (the “Board) and Adam Leitman Bailey, P.C.’s client, an owner of a unit in the condominium, Adam Leitman Bailey, P.C. was faced with the tall task of defending against the Board’s concerted effort to seek contempt against the client. In 2022, Adam Leitman Full Article…
Adam Leitman Bailey, P.C., On Behalf of Board, Defeats Temporary Restraining Order By Self-Dealing Owner in Complicated Litigation
SHAREHOLDERS’ DEMAND FOR PRELIMINARY INJUNCTION New York City’s extremely high density, especially in Manhattan, can yield high-stakes battles for even small spaces. When disputes about such spaces cannot easily be consensually resolved, legal “street fights” often develop rapidly, generating expedited proceedings. Successfully navigating these circumstances invokes an aphorism by British politician Charles Buxton: “In life, as in Full Article…
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