August 8, 2017 by Adam Leitman Bailey and John Desiderio In Stonehill Capital Management v. Bank of the West, 28 NY3d 439 (2016), the New York Court of Appeals held that an agreement to sell a distressed loan, in the auction loan trading market, was enforceable without the execution of a formal written contract. While Full Article…
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Violation Battle: Level up your building for the fight – with City Hall
By Adam Leitman Bailey Here’s some odd advice: when your building gets a violation, don’t pay it. At least not automatically. “Owners and boards probably spend thousands on fines and penalties that many times can be reduced,” says Ron Finger, president of Finger Management. “They get a ticket and think, ‘Oh, God, I’ve got to Full Article…
The Sound and the Fury: Noise in Rentals, Co-ops and Condos
By Adam Leitman Bailey and Dov Treiman As New York City experiences ever denser housing, the problems with noise laws resound ever more clearly. The noise has gotten louder for many reasons. First more families have chosen to reside in this city and one of the loudest and unrepresented group of violators has been screaming Full Article…
Understanding Single-Room Occupancy Laws – Part II
By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated Full Article…
Understanding Single-Room Occupancy Laws – Part I
By Adam Leitman Bailey and Dov Treiman Part I Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the Full Article…
Understanding Single-Room Occupancy Laws
February 10, 2016 Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the owner may be required to maintain Full Article…
The State of the Business Judgment Rule Appellate Court Rulings By Adam Leitman Bailey
February 2016 By Adam Leitman Bailey The greatest changes in cooperative and condominium law this past year did not come from the legislature or from the courts but from the New York Attorney General’s office (NYAG). This article will review some of those changes and the most significant appellate cases affecting cooperatives and condominiums. Buyouts Full Article…
The Rules for Allowing Pets in ‘No-Pet’ Buildings
April 13th, 2016 By Adam Leitman Bailey and John M. Desiderio When determining whether an owner’s pet qualifies for admittance in no pet buildings, cooperatives and condominiums must be extremely careful to follow the federal, state, and city fair housing laws governing how far a board can go when investigating and denying an animal’s entrance. Full Article…
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