NYC co-ops and condos face legal and financial challenges that have to be solved. Whether it's a question of how to raise more money, how to deal with angry owners, or the best ways to work with a building's accountant or lawyer, co-op and condo board directors have to make decisions. The collection of articles here will help your co-op or condo board navigate these waters.
Uncertainty Reigns as Corporate Transparency Act Declared Unconstitutional
Written by William McCracken on March 07, 2024
The Corporate Transparency Act, a new federal disclosure law, has been declared unconstitutional by a district court in Alabama, leaving co-ops and condominiums uncertain about its scope and enforceability.
Shareholders claim board is running a "racket" in their posh Museum Mile co-op.
Handling Co-op Stock Transfers
Written by Matthew Goldberg, Partner, Hankin & Mazel on February 29, 2024
When shares change hands, whether due to familial changes, relationship shifts, or other circumstances, a series of legal steps must be followed.
Commercial Tenant Defaults and Yellowstone Injunctions
Written by Massimo D'Angelo, Partner, Blank Rome on February 22, 2024
A Yellowstone injunctionis the most potent weapon in a tenant's arsenal when faced with landlord-tenant summary eviction proceedings.
Succession and Governance in Mitchell-Lama Co-ops
Written by Dean Roberts, Member, Norris McLaughlin on February 15, 2024
Finding a Mitchell-Lama apartment is very competitive and requires a good degree of patience.
Succession and Governance in Mitchell-Lama Co-ops
Written by Dean Roberts, Member, Norris McLaughlin on February 15, 2024
Mitchell-Lama apartments present an affordable housing option for New York City residents.
Budgeting Challenges for Co-ops With Commercial Spaces
Written by Andrew Freedland, Partner, Herrick Feinstein on February 08, 2024
Co-op boards with commercial spaces have long relied on income from their leases to business entities as a source of revenue to fund their building operations.
Business Judgment Rule: Lessons for Co-op and Condo Boards
Written by Bruce Cholst, Partner, Herrick Feinstein on January 25, 2024
Boards relying on the business judgment rule for legal protection must meet four criteria, but also consider community sentiment to avoid backlash.
Renovation Responsibilities for Co-op and Condo Boards
Written by Allen H. Brill on January 18, 2024
Shareholder renovations can often be a headache for boards, particularly in older properties.
Navigating Primary Residence Disputes
Written by Moshe Bobker, Partner, Tane Waterman & Wurtzel on January 11, 2024
When shareholders violate the terms of a proprietary lease by not making the apartment their primary residence, boards are within their rights to evict them.