In 1997, a federal jury found that the board of the Beekman Hill House co-op had illegally discriminated against an interracial couple. The couple was awarded $640,000 in damages. Of this, board president Nick Biondi was personally liable for $125,000 in punitive damages. Every few years, that case, and others like it, sends fear throughout the community. Today’s episode of Legal Talk – with Dean Roberts, partner in Norris McLaughlin & Marcus and Stewart Wurtzel, partner in Tane, Waterman & Wurtzel – explores how board members can protect themselves from this kind of financial disaster.
Dean M. Roberts
Thinking of buying a co-op or condo? Already bought, and not sure how co-op/condo life and rules work? Learn all about purchasing a place and living in your new community. It's not like renting, and its not like owning a house. What's it like?