Search Results: adam leitman bailey (129)

Unemployment is up and apartment sales are down. That’s the trend of headline news lately. But, so far, New York City co-ops and condominiums seem to be weathering the storm in reasonably good shape. According to those close to the situ…

 While some condos and co-ops are lucky enough to have lawyers serve as members  of their board, the majority of boards don’t have an in-house legal expert. They often reach out to their attorney to  answer questions, vet documents and sen…

 New York's co-ops and condos are both governed by a multitude of laws and rules.  For co-ops, the primary governing documents are the bylaws and the proprietary  lease. For condos, they are the condominium declaration and, once again, the…

Election season typically starts around Labor Day, when we start to be bombarded with reminders to cast our ballots to choose who we want to be in charge of our city, town, state and country. It ends on Election Day in November, when th…

 With homeownership comes great responsibility. For co-op and condo residents,  part of that responsibility means sorting through the seemingly mile-high  stacks of documents handed to you before, during and after the purchase process  beg…

Launching a successful business requires talent, the commitment of many people, dedication and of course, a clear cut plan and strategy. Just like launching a business, a co-op or condo needs this kind of support when it makes the tran…

Living in a co-op or condo means living in a community where residents get to know each other, attend events together and, sometimes, even become really close friends. In most cases, the people you meet are normal, down-to-earth folks, but…

Buying an apartment in New York can be a smooth process—or as smooth as smooth can be when the number of attorneys present at the closing are enough to field a N.Y. Urban Professionals Basketball League team—or it can be a harrowing roll…

Bad economic news is pretty much inescapable these days. You can’t turn on the TV without hearing about another round of layoffs or plummeting consumer confidence. The stock market is a roller coaster, retirement funds are shedding valu…

Mayor Bill de Blasio says that New York has “a crisis of affordability.” According to the mayor’s ten-year housing plan, his administration is committed to “build or preserve nearly 200,000 affordable units” throughout the five boroughs. M…

What is a conservation easement? What are the tax advantages to a conservation  easement? Can a condo or co-op vote to place a conservation easement?     —Curious in New York  “An easement is a transfer of usage rights. Simply…

The late 1990s saw a surge of nationwide smoking restrictions put into effect. State by state, legislation banning smoking in various settings was proposed and passed into law. With varying amounts of resistance and controversy, workpl…

They say there are eight million stories in the naked city, and when you’re an attorney working for a co-op or condo in New York, you may find that some of the best of them are happening to you. While some may think that handli…

 Sometimes our neighbors can be our best friends. They’re the people we turn to for emergency babysitting help, or for a cup of sugar,  or for that friendly chat in the elevator. Sometimes, though, the people we  live in close proximity to…

When it comes to board members pushing their own pet projects, stalling meetings, and generally gumming up their building’s administrative works for selfish reasons, Chris Ebert, senior property manager of Downtown Properties in Manhatt…

 In the best of circumstances, qualifying an applicant for a co-op or condominium  purchase can be a challenging process. Market conditions play a part in a  board's consideration of applicants, and recent fluctuations have changed the  wa…

Almost any veteran property manager can tell tales of buildings that have fallen on rough times thanks to the economic meltdown of the last few years. Some have been beset by multiple unit foreclosures, others are dealing with defaultin…

In managing the affairs of a building or a community, all board members are far from equal in their abilities and skills. Some bring experience in construction or a background in law, finance, or other professions that can be helpful to…

Lawsuits are an unfortunate, expensive fact of life these days—chances are that at some point in your lifetime you’ll be involved in one to at least some degree. In you live in a co-op or condo community, legal issues arise between board…

Nothing worth doing is ever easy. That rule of thumb certainly applies when it comes to the creation of co-ops and condos. Whether constructing a new building or converting an existing one, it can be a tricky business. The person o…