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.
Lender Blacklist Finally Available to Co-op and Condo Boards
December 18, 2023
In a reversal, Fannie Mae and Freddie Mac move to make lending more transparent.
A New Tool for Mitchell-Lama Co-ops to Remain Affordable
Written by Toba Potosky on December 15, 2023
Brooklyn's Cadman Towers co-op uses "Article 2 to 11" to preserve affordability.
Avoiding Discrimination Claims in the Co-op Approval Process
Written by Daniel Finger, Partner, Finger & Finger on December 14, 2023
Boards need to be prepared for claims of discrimination at any point when rejecting purchasers.
Challenges Associated with Mixed-Use Condominiums
Written by Howard Schechter, Partner, Armstrong Teasdale on December 07, 2023
A nuanced understanding of mixed-use condos and their legal frameworks is important in order to deal with the challenges that can arise in hybrid buildings.
Will Governor Sign the LLC Transparency Act Into Law?
December 05, 2023
Gov. Kathy Hochul has until Dec. 31 to decide the fate of a major real estate law.
Navigating Co-op Trust Transfers
Written by Mindy Stern on November 23, 2023
Transferring a co-op apartment to a trust is a complex process.
East Village Condo Board Follows the Textbook to Collect Arrears
November 17, 2023
Commercial tenant's failure to pay common charges leads to a lawsuit.
Access Agreements: Fees, Fairness and Changes Ahead
Written by Julie Schechter, Partner, Armstrong Teasdale on November 16, 2023
Section 881 of the Real Property Actions and Proceedings Law allows access to a neighbor’s property under what’s called a license or access agreement.
Lawsuit is a copycat of a recent Missouri suit that awarded $1.7 billion to homesellers
Banning Short-Term Rentals: A Guide to Local Law 18
Written by Scott Smiler, Partner, Gallet Dreyer & Berkey on November 09, 2023
Short-term rental platforms are a thorn in co-op and condo buildings' sides. With the recent passage of Local Law 18, boards are getting some welcome relief.