n White v. Farrell,1 the New York Court of Appeals ruled that the measure of damages for a buyer’s breach of a contract to sell real property, where the contract does not contain a liquidated damages clause as the seller’s exclusive remedy,2 is the difference between the contract price and the fair market value of the property on Full Article…
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Adam Leitman Bailey, P.C. Helps Shareholders Regain Control of Their Building
In a recent matter, Adam Leitman Bailey, P.C. counseled a group of concerned shareholders in removing an incumbent Board of Directors of a prestigious Manhattan cooperative. A group of concerned shareholders of a prestigious Manhattan cooperative were challenged and frustrated by an incumbent Board. The Board’s lack of truthfulness and transparency, unilateral decision-making, and failure Full Article…
Breaking Bad: Dealing with Rule Breakers
By Adam Leitman Bailey, Leonard Ritz and Dov Treiman Jan. 15, 2013 — In the aftermath of superstorm Sandy, many condo and co-op board members have been facing unprecedented challenges, with little experience to guide them. In the first of two installments today, three leading attorneys answer eight questions at the top of every affected board Full Article…
Post-Sandy: Three Attorneys’ Plain-English Guide for Co-op & Condo Boards
By Adam Leitman Bailey, Leonard Ritz and Dov Treiman Jan. 15, 2013 — In the aftermath of superstorm Sandy, many condo and co-op board members have been facing unprecedented challenges, with little experience to guide them. In the first of two installments today, three leading attorneys answer eight questions at the top of every affected board Full Article…
Adam Leitman Bailey, P.C. Protects Mortgage Security for JPMorgan Chase Bank, N.A.
Adam Leitman Bailey, P.C. successfully protected JPMorgan Chase Bank, N.A.’s (“Chase”) security interest in a condominium unit on Lorimer Street in Brooklyn by tracking down the seemingly lost original mortgage, along with the original underlying deed and transfer documents, and successfully ensuring the expedited recordation of all. On December 21, 2011, the original documents were Full Article…
A Burning Issue: Smoking Bans in Private Apartments?
By Hillary Pember The late 1990s saw a surge of nationwide smoking restrictions put into effect. State by state, legislation banning smoking in various settings was proposed and passed into law. With varying amounts of resistance and controversy, workplaces, shops, theaters, restaurants and bars in a growing number of cities—including New York City—all went smoke-free. More Full Article…
Q & A: Rent-Controlled Tenant in a Condo Conversion The New York Times
By JAY ROMANO Published: September 14, 2012 Q. What are the rights of a rent-controlled tenant who will not be buying in a building being converted to condominium ownership? Will owning a weekend home have an impact? A. Leonard H. Ritz, a Manhattan co-op and condominium lawyer, said that if this is a noneviction condominium conversion (as Full Article…
Q&A No Pets, No Parties–No Smoking?
Barbara Langdon and her boyfriend saw a loft for sale on West 15th Street right before Christmas and knew they’d found a winner. It was in great shape and sprawled over 2,300 square feet, just what they wanted, so they made an offer for $1.75 million that was quickly accepted. “We were excited because we’d only been looking three weeks,” Langdon remembers. Soon after, though, their broker called to convey a fussy bit of news: The coop was entirely nonsmoking, not just in common areas but also in the apartments. “That was the dealbreaker,” says Langdon—never mind that she doesn’t smoke. “How dare they tell me what to do in my own apartment.” Apparently, they Full Article…
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