New York's Cooperative and Condominium Community

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LEGAL/FINANCIAL


HOW LEGAL/FINANCIAL PROBLEMS ARE SOLVED BY NYC CO-OPS AND CONDOS

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.

Debate centered on Carnegie House, a co-op facing a stiff land-lease rent increase.

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Court rules that windows are part of individual apartments and not common elements.

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The offering plan and contract of sale will determine who's responsible for the repairs.

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Tax break would help buildings reduce carbon emissions and comply with Local Law 97.

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An appeals court has reversed the dismissal of one of the suit's four claims.

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On-time payment of monthly charges earns redeemable reward points.

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License Agreement Essential for Facade Repairs and Building Renovations

Written by Gerard S. Strain, Partner, Goetz Fitzpatrick on May 09, 2024

New York City

Access to neighboring buildings for facade repairs and other renovations requires a license agreement, which includes architectural and engineering plans, a noise mitigation plan, and a license fee, with fees being reasonable and proportional to the complexity of the project.

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Funding ploy could leave the city more vulnerable to critical breakdowns during hurricane season.

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Some 25,000 shareholders would be spared from sharp rent increases when land leases expire.

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Board Members Shielded by Business Judgment Rule in Co-Op and Condo Legal Disputes

Written by Eric Goidel, Senior Partner, Borah, Goldstein Altschuler Nahins & Goidel on May 02, 2024

New York City

The business judgment rule protects board members from legal challenges, except in cases of bad faith, self-dealing, criminality or other wrongful conduct, and D&O insurance is available to provide coverage for board members.

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Ask the Experts

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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