With millions of apartment units in New York City, it’s hard to imagine that there was ever a time when the city didn’t have them. Today, nearly 70 percent of NYC residents rent an apartment, which is twice the average nationwide. But that wasn’t always…
There are nearly 1.4 million people over age 60 who live in New York. This number is projected to rise to almost 2 million in 2040. Why? In large part because empty nesters are moving back into the city. If you are considering a move…
Renting or subletting an apartment unit in a co-op is often a complex process. Co-ops tend to have strict guidelines regarding sublets. Without them, they risk letting in renters who do not meet their tenant/shareholder qualifications, which are critical to maintaining the environment the co-op…
The M Condominium in Brooklyn needed to raise funds to repair and restore several storm damaged building systems. The Board did not want to impose special assessments on the unit owners. In order to raise the money necessary to do the capital repairs, the special…
Recently, after a non-jury trial, the Court in Terry v 241 West 111th Street, HDFC, NYLJ April 8, 2013 (Sup, NY Engoron, J, April 1, 2013): (A) declared plaintiff was the rightful and lawful holder of the shares and the proprietary lessee of cooperative apartment…
Many coop tenants whose apartments were damaged by Hurricane Sandy are wondering if they have any rights to financial compensation, in the form of an abatement of maintenance, resulting from their apartments being rendered partially or totally uninhabitable. This post does not address issues regarding…
Rent Controlled tenants won a big victory recently when Supreme Court Justice Schlomo S. Hagler upheld a DHCR decision denying “hardship” rent increases for 27 elderly tenants living at London Terrace Towers in Chelsea. London Terrace Associates v. DHCR v. Four Corners Tenants Association, Index…
When I represent a client who is purchasing a co-op or condo apartment, it is important to look into the finances of the Co-operative or Condominium. A co-op or condo owner does not just own their own apartment. The owner owns a part of the…
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