Westchester County lawmakers recently passed additional rules for its Co-op Disclosure Law, which itself dates back to 2018. The law originally gave co-op corporations and their representatives 60 days to determine whether a purchase applic…
NBC News recently reported on a 2019 class-action lawsuit filed by shareholder-tenants of several New York City co-ops that the city took over under the aegis of a controversial program called Third Party Transfer (TPT). The program wa…
For decades, the due diligence required for real estate transactions has fallen more to the seller than the buyer. Would the buyer qualify for the purchase? Would they pass the board interview? Co-op owners wishing to sell their units often…
Law firm Seyfarth Shaw issued a release this month reminding New York cooperatives and condominiums that they are subject to the New York Health and Essential Rights (HERO) Act that was signed into law on May 5, 2021. The new Department of …
Two new laws recently went into effect in New York City that regulate the collection, storage, and disclosure of information that can identify an individual “biometrically”—that is, by way of their fingerprints, retinal or iris scan, facial…
In the wake of a tragedy of the size and scope of the recent building collapse in Surfside, Florida, many board members in condos, co-ops, and HOAs have concerns about what liability they may assume in their administrative role. This concer…
On June 11, 2021, Governor Cuomo signed into law several amendments to the New York HERO Act; a law whose main purpose is to ensure that employers have a plan in place to protect their employees in the event of another pandemic, or the emer…
For many, the topic of insurance can be a bit overwhelming. Even the terms we use as insurance purchasers differ substantially from the terms industry professionals use when discussing and settling claims - which can leave laymen feeling li…
In light of the catastrophic, deadly condo building collapse in Surfside, Florida last month, boards and residents in multifamily buildings across the country are taking a hard look at how their own properties measure up to the structural m…
Water infiltration in multifamily buildings has always been an issue of grave concern; leaks can lead to everything from unsightly stains to mold growth to crumbling infrastructure, and can mean hundreds of thousands spent on repairs and re…