Written by Richard Siegler and Dale J. Degenshein on July 17, 2012
In Bregman v. 111 Tenants Corp., Cornelia Sharpe Bregman alleged that in 1972 she was renting apartment 6C at 111 East 75th Street in Manhattan, which was converting the building to cooperative ownership. Because of an insufficient number of subscriptions to qualify for conversion, the sponsor asked her to purchase her apartment as well as penthouse Apartment 10A. Bregman says she entered into an agreement that gave her "full, unconditional, and perpetual sublet rights" to both apartments, because the sponsor recognized that she would have to sublet one or both.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
A free digital resource for co-op/condo board directors. Published twice a month. Read now on all digital devices.