Adam Leitman Bailey Articles

Adam Leitman Bailey Articles

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Archive | Purchase and Sale of Multi-Family Dwellings and Buildings RSS feed for this section

Escaping the Default Formula at the DHCR

  • Carolyn Raulo, Due Diligence and Transactional Risk Assessment of Multi-Family Dwellings, Landlord Representation, Purchase and Sale of Multi-Family Dwellings and Buildings

In the past five years, we have had an increasing number of owners of rent stabilized buildings in New York City come to us in desperate need of help after receiving a “final notice” from the Division of Housing of Community Renewal of the State of New York (“the Division”). The “final notice” says that  Full Article…

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Closing Open Permits

  • Purchase & Sale of Homes, Purchase and Sale of Multi-Family Dwellings and Buildings, Tom Furst

Many think of due diligence as a good practice which is applicable primarily to Purchasers. However, Sellers of apartments, single-family home and commercial properties also need to be aware of the importance of early due diligence which can avoid significant issues at a later stage of the transaction. For example, it is prudent, as Seller’s  Full Article…

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Limited Liability Company Transparency Act

  • Purchase & Sale of Homes, Purchase and Sale of Multi-Family Dwellings and Buildings, Rosemary Liuzzo Mohamed

On June 20, 2023, The New York legislature passed a bill called the LLC Transparency Act which would require the beneficial owners of limited liability companies (“LLC”) to disclose their identities. This disclosure of information could then be found in a newly created, public searchable database maintained by New York’s secretary of state. Governor Hochul  Full Article…

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Understanding the Limited Liability Transparency Act

  • Bonnie Reid Berkow, Purchase & Sale of Homes, Purchase and Sale of Multi-Family Dwellings and Buildings

On June 20, 2023, the New York State Assembly passed amendments to the LLC Transparency Act amending sections of New York’s Limited Liability Company Law to require the disclosure of information relating to the beneficial owners of a limited liability company registered or qualified to do business in New York.  The amendments take effect one year  Full Article…

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Adam Leitman Bailey, P.C. Hired to Litigate in Sale of Property Conflict and Resolves Dispute Against Neighbor Without Litigation and Much Higher Sales Price

  • Purchase & Sale of Homes, Purchase and Sale of Multi-Family Dwellings and Buildings, Real Estate Litigation

Two siblings hired Adam Leitman Bailey, P.C. for a contract negotiation regarding the sale of their inherited apartment. After successfully and strategically maneuvering the clients through a series of intricate hurdles, the attorneys at Adam Leitman Bailey, P.C. reached a settlement with the client’s adversary at a much higher price than they had been previously  Full Article…

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When Email Exchanges Become Binding Contracts

  • Adam Leitman Bailey, Condominium & Cooperative Litigation, John Desiderio, Purchase and Sale of Multi-Family Dwellings and Buildings, Real Estate Litigation

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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Understanding Single-Room Occupancy Laws – Part II

  • Adam Leitman Bailey, Condominium/Board of Managers Representation of Newly Constructed Buildings & Conversions, Landlord Representation, Purchase & Sale of Homes, Purchase and Sale of Multi-Family Dwellings and Buildings, Tenant Representation

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…

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Understanding Single-Room Occupancy Laws – Part I

  • http://alblawfirm.com/articles/sro_rew/ •
  • Adam Leitman Bailey, Condominium/Board of Managers Representation of Newly Constructed Buildings & Conversions, Landlord Representation, Purchase and Sale of Multi-Family Dwellings and Buildings, Tenant Representation

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…

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