Coming Clean on Contracts Coming Clean on Contracts February 2011 The Situation. The building had a central laundry room that desperately needed renovation. The space, which had been serviced by the same company for the last decade, was dirty and dusty, with walls and flooring showing obvious signs of extended wear and tear. STEP 1 Full Article…
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“Harnessing the Internet,” New York Law Journal
By Adam Leitman Bailey and Colin E. Kaufman The World Wide Web has changed real estate law forever. Harnessing the massive amounts of information on the Internet to enhance the practice of real estate law has become essential for every dirt lawyer. New York’s state and city governments have created useful Web sites to assist Full Article…
In the Spotlight: Drafting Better Leases for the Commercial Tenant,” Law Journal Newsletters
By Adam Leitman Bailey and John M. Desiderio Too many tenants’ businesses have suffered severe financial consequences or lost leases as a result of poorly drafted provisions. Therefore, it is imperative that tenants negotiate better commercial leases in order to protect their interests. The suggestions in this article provide proposed remedies for a few of Full Article…
Appellate Division Rules on Commercial Leasing
By Adam Leitman Bailey and Jeffrey R. Metz Many times, cooperatives and condominiums have commercial retail spaces connected to or below their building. These are immensely valuable as a result of the income generated by these stores and restaurants. Ergo, the importance of a new decision from the Appellate Division. Two decades ago, New York Full Article…
Rent Stabilization Constitutional? Not Now
By: Adam Leitman Bailey & Dov Treiman March 20th, 2012 When looking at Rent Stabilization from a constitutional point of view, two facts clearly emerge. First, as forty-year-old emergency legislation, it is clearly unconstitutional. Second, no judge subject to reelection or reappointment is going to agree with the first point. Thus, if anyone seeks to Full Article…
Adverse Possession in a Post- ‘Walling’ World
By: Adam Leitman Bailey & John M. Desiderio October 12th, 2011 In a prior article, which reviewed adverse possession cases decided by New York courts in the two years following the 2008 amendments to Article 5 of the Real Property and Proceedings Law (RPAPL), the authors noted that “during this period of transition, the courts Full Article…
Lawyers: You CAN Recover Cash When Condo Sponsors Underfund Reserves
Rainy Day Money – Condo Style Reserve Fund Obligations By: Adam Lietman Bailey July 1st, 2011 Do you live in a condominium conversion? Are your reserves underfunded? As a condo board you may be able to recover millions of dollars from your sponsor. Sponsors of condo conversions really have only one material obligation: to provide Full Article…
Preventing Fraud at Closing
November 1st, 2009 There are some simple yet effective steps that can be taken to avert fraud at a real estate closing. At the start of the 21st century, the most effective means to rob a bank no longer includes the use of a gun. The real estate closing table has replaced the gun and Full Article…
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