New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

NEW YORK CITY

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

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

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

Failure to provide accommodations can result in legal action and financial penalties.

The Habitat Group wishes our readers a safe and happy Memorial Day 2024.

Bills require load-bearing capacity study, double civil penalties, and more frequent inspections.

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

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.

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.

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

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