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  • By: Michael Kayam
  • Published: November 10, 2020

The main differences between condominiums and cooperatives are their ownership structures and their governing documents, which contain the policies and rules for living in these communities. Condominium governing documents provide condominium unit owners a more flexible form of ownership regarding sales and leasing, whereas cooperative governing documents are typically more restrictive and have a more detailed sales and leasing application…Read More

  • By: Stephen M. Lasser
  • Published: October 29, 2020

The primary governing documents of condominiums and homeowners associations are the declaration and by-laws recorded in the county clerk’s office where the property is located.  An offering plan, on the other hand, is a sales disclosure document distributed by the sponsor- developer to the initial prospective purchasers in a condominium or homeowners association community.  Where things can get confusing is…Read More

  • By: Michael Kayam
  • Published: October 9, 2020

A little over a year ago, in August 2019, Congress passed an amendment to Chapter 11 of the Bankruptcy Code known as the Small Business Reorganization Act (the “SBRA”) creating a new Subchapter V for small businesses, which went into effect in February 2020.  In order to be eligible to file for bankruptcy under the SBRA, a company must have…Read More

  • By: Jared Steiner
  • Published: October 2, 2020

When a commercial tenant defaults under its lease, New York commercial landlords may have the option to use self-help to evict the tenant from the premises without going to court or obtaining a warrant of eviction. Given the current moratorium on evictions due to COVID-19, commercial landlords might want to explore the option of self-help as a way of removing…Read More

  • By: Qing Angie Lin
  • Published: September 14, 2020

New York condominiums are statutorily governed by the Condominium Act, which was enacted in 1964. When the Condominium Act was originally enacted, Condominium boards were not specifically authorized to obtain loans on behalf of the condominium from financial institutions. As a result, when condominiums were in need of capital repairs, replacements and improvements, board members had limited options and relied…Read More

  • By: Jared Steiner
  • Published: June 5, 2020

As counties in New York have completed Phase I and entered Phase II of reopening and as New York City prepares for Phase I (currently scheduled for June 8, 2020), clients have inquired about the protocol and procedures for resuming non-essential construction. Specifically, boards are curious about how to manage construction commencing in their buildings and within individual units while…Read More

  • By: Jared Steiner
  • Published: May 29, 2020

In the past week, new legislation has been passed in New York City enacting additional limitations, and courts have provided some guidance, and further limits on the steps building owners can take to collect unpaid rent while Governor Cuomo’s executive orders are in effect. Unfortunately, there are still many questions that have not been answered. 1. New NYC Law Affects…Read More

  • By: Stephen M. Lasser
  • Published: May 13, 2020

Late last week, Governor Cuomo issued Executive Order (“EO”) 202.28 in furtherance of his press conference held on May 7, 2020.  EO 202.28 clarified some of the statements from the Governor’s press conference and added a few wrinkles, which are not favorable to landlords.  Here is a list of the key provisions: Nonpayment Cases. No new nonpayment cases, residential or…Read More

  • By: Jared Steiner
  • Published: May 8, 2020

In light of the financial difficulties attributable to the COVID-19 pandemic, commercial tenants are increasingly defaulting on their rent payments. Landlords are limited in their options for recovering these payments due to the executive order prohibiting non-essential services, which has prevented service of rent demand notices and prevented courts from accepting new filings of nonpayment petitions. Given the unknown duration…Read More

  • By: Stephen M. Lasser
  • Published: April 8, 2020

At the time of this writing, the residents of New York are basically quarantined to their homes due to COVID-19. This has resulted in co-op, condo and HOA boards meeting via video and telephone conference calls and relying more heavily upon email. Although it is great that technology has allowed boards to continue to function without meeting in person, boards…Read More

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