Adam Leitman Bailey, P.C.’s client, a co-op owner of two adjoining luxury apartments facing Central Park West, undertook a major renovation nearly four years ago, and is only now being completed. The alteration rules of this co-op are very stringent, and in particular the Alteration Agreement imposed very stiff fines for late completion. Furthermore, the longer the completion delay, the faster pace Full Article…
Viewing 1 to 8 of 10 items
How the New Tax Law Affects the Mortgage Interest Deduction
The Tax Cuts and Jobs Act was signed into law at the end of 2017 and will have an impact on homeowners in the United States. The mortgage interest deduction on a mortgage taken to purchase a home prior to December 14, 2017 allows a borrower to deduct interest on up to $1 million in Full Article…
Some Buyers Regret Not Asking: Anyone Die Here? The New York Times
By Stephanie Rosenbloom …Just as in New York, sellers in New Jersey are not required to tell buyers about a death on a property, or a rumor of a haunted house. “If it doesn’t harm the property, under no circumstances do you have to report it,” said Adam Leitman Bailey, who practices real estate law Full Article…
Hot Real Estate Deals: The Best and Worst of 2013
by Kate Rogers | Published February 11, 2013 | FOXBusiness We may only be two months into the year, but 2013 is shaping up be a solid year for the real estate market. With record-low interest rates and other investments still on shaky ground, some experts are pointing to real estate as a prime investment Full Article…
What a Revolting Development
By S. Jhoanna Robledo Published In 2004, Meggan Berley and her husband, empty-nesters in Dobbs Ferry, ditched their longtime rental and bought a new condominium on Spencer Street in Brooklyn. Then the headaches began. On movein day, the floors weren’t finished and the kitchen cabinets had no doors. The Berleys lived amid construction for weeks. Then Full Article…
The Downside for Condos in a Downturn
By TERI KARUSH ROGERS DURING the recent boom, buyers who coveted condos for their sex appeal could also make the case that condos were a smarter choice than co-ops. In theory, you didn’t have to prostrate yourself, financially and otherwise, before a board for approval, and you could sell or rent pretty much to whomever you Full Article…
Realty Law Digest–New York Law Journal
Realty Law Digest Scott E. Mollen New York Law Journal | March 16, 2011 Co-Ops — Sellers Rented Apartment Before Board Approved the Pending Sale of Their Co-Op and Board Rejected the Sale — Sellers Sued — Individual Board Members Had No Personal Liability— NYS Human Rights Law — Federal Fair Housing Act— Breach of Fiduciary Duty — Full Article…
Drafting a Better and More Effective Right of First Refusal
By: Adam Leitman Bailey & John M. Desiderio January 1st, 2007 Land transfers date back to biblical times and have been the subject of an inordinate amount of litigation. Of course, the importance and value of land and the necessity for shelter might help to explain many of the disputes. Some, however, are due to human Full Article…
Twitter