When an owner evicts a tenant from an apartment, by the end of the process the tenant typically owes the owner some substantial sum of money. While these evictions are usually in the context either of a nonpayment proceeding or a holdover proceeding prosecuted in the New York City Civil Court, such prosecutions do not Full Article…
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Adam Leitman Bailey, P.C.’s 2012 End of the Year Transaction Spotlight
Represented the purchaser in the acquisition of a building on West 87th Street for $10,300,000 on December 19th. The building contains 4 commercial tenants, a number of SRO units and a hostel. Represented the seller in the sale of 3 buildings located on West 158th Street, West 159th Street and West 161st Street for $10,000,000 on Full Article…
Q & A: Breaking a Lease Over Unlivability
By JAY ROMANO November 9th, 2012 Q I rent an apartment in a building heavily affected by the hurricane — there was no power for several days, and the management is citing extensive damage to the elevators and heating system, and cannot give any reasonable estimate as to when the building will be fit for occupancy. My Full Article…
Overcoming Obstacles to Save Borrowers Thousands in Mortgage Tax
In the state of New York a New York Mortgage Recording tax is due and payable on each mortgage transaction both for purchases and refinances. The mortgage tax rate varies from county to county. In the five boroughs of New York City the rate is 1.8% on mortgage amounts under $500,000.00 and 1.925% on mortgage Full Article…
The Current State of Attorneys Fees
By Dov Treiman A recent decision of the Appellate Division, First Department, Krodel v. Amalgamated Dwellings, Inc., 166 A.D.3d 412, 88 N.Y.S.3d 31 (2018) inspires us to reexamine New York’s doctrine about recovering attorneys fees in litigation. Krodel itself explores a corner of the “American Rule” that holds that one cannot recover attorneys fees from an adversary in Full Article…
Hogan v. Kelly: Second Department Agrees with the Third and Fourth Departments—2008 Adverse Possession Amendments Are Not to Be Retroactively Applied
By Danny Ramrattan In Hogan v. Kelly, 1 defendants Dorothy and Camille Kelly moved in with Ferdinand Powell (“decedent”) in September 1992 to assist him because of his old age and poor health.2 Decedent held title to the property he and defendants occupied. Defendants thereafter lived with decedent until his death on March 26, 1995. Decedent Full Article…
New Rent Laws Abrogate No-Mitigation Rule in Residential Leases
July 12, 2019 The recently enacted Housing Stability and Tenant Protection Act of 2019, which Gov. Andrew Cuomo signed into law on June 14, 2019, has now completely abrogated the no-mitigation rule in the context of residential leases. In 1995, the Court of Appeals in Holy Properties Ltd., L.P. v. Kenneth Cole Productions, 87 N.Y.2d 130 Full Article…
New Rules of Substantial Rehabilitation to Remove Units from Rent Regulation Part II
By Adam Leitman Bailey Assuming the criterion that the building is substandard or deteriorated has been met, this means that it has conditions that are in violation of law. In New York City, this creates an automatic right by the landlord to have access to the apartment for purposes of curing these violations, that is, to Full Article…
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