Page 14 - NY Cooperator September 2020

14 THE COOPERATOR — SEPTEMBER 2020 COOPERATOR.COM ATTORNEYS Abrams Garfinkel Margolis Bergson, LLP 1430 Broadway, 17th Floor, New York, NY 10018 212-201-1170 • www.agmblaw.com Barry G. Margolis, Esq. • Robert J. Bergson, Esq. Himmelfarb & Sher, LLP • (914) 682-0040 Cooperative and Condominium Law—Real Estate Closings One North Broadway, Suite 800, White Plains, NY 10601 Contact: Ronald A. Sher, Esq. • Norman D. Himmelfarb, Esq. Law@himmelfarb-sher.com • Direct Dial: 914-461-0220 Belkin Burden Wenig & Goldman, LLP Specializing in all aspects of Cooperative and Condominium Law including Landlord/tenant proceedings. Copy of Monthly Newsletter available upon request. (212) 867-4466 contact: Aaron Shmulewitz/Daniel Altman ashmulewitz@bbwg.com/daltman@bbwg.com www.bbwg.com ACCOUNTANTS ARCHITECTS architecture interior design engineering project management forensic investigations 307 7th Avenue, Suite 1001, New York, NY 10001 Tel. 212.645.3775 Fax. 212.645.4099 Form Space Image ARCHITECTURE PC SERVICE DIRECTORY over all keys and condominium property a board or its composition,” says Lucas A. (i.e., tools, cell phone, etc.) to the manage- ment company. Additionally, if he resides in and an adjunct professor at New York Law the building, he should be directed to move School. out of the unit by a specified date. “Before doing so, however, it is a good pear unseemly, it is a legitimate part of the idea to document the failures to perform ‘democratic’ process. An abstention—or his job duties, and to put him on notice of a refusal to vote—is a decision one is free each example. Once a pattern emerges, he to make. In fact, it’s a fundamental right, in can be placed on probation, with a warning many respects. that further transgressions will result in his termination. And if he violates the terms of ‘numbers game.’ The group or individual his probation, his termination will be dif- ficult to challenge. “Below are some specific guidelines that the writer describes is to enlist shareholder should be followed: • First, a comprehensive description numbers. of the super’s duties and responsibilities should be prepared and signed by him. • Second, complaints about his conduct joining the board, or changing its compo- and job performance should be immediate- ly addressed, and he should be directed to for their support, and even secured proxies resolve them in a timely manner. • Third, serious or repeated violations of effort requires work, and a lot of time and should be memorialized in writing and effort goes into the process. And even af- signed by him. The same is true when he is ter expending that kind of energy, there is placed on probation. • Fourth, if he violates the terms of his ing his/her mind and rescinding the proxy, probation, a termination letter should be voting with an opposing slate, and allowing issued. “Although these procedures are not le- gally required, they are a prudent way to licit underlying the parties’ actions, I doubt insulate the board from liability should the the mere discouragement of participation, super later claim he was wrongfully termi- nated. And in the future, it is advisable to be viewed as somehow violative of law.” have an employment contract with the new super.” Election Sabotage, or Democracy at Work? Q Our co-op’s recent annual meet- ing and board elections were dis- graceful— resulting, in my opin- ion, in a very dangerous precedent. There were four available openings, and only four shareholders offered their candidacy. So providing we had a quorum of 51%, these four candidates by default would become board members. Two sitting board mem- bers have personal issues with one of the candidates. To derail this candidate from becoming a board member, these two sit- ting board members sabotaged the election by soliciting the shareholders and directing them not to vote, not to enter the polling building, and to retract their ballot from the management company if already submit- ted. Not surprisingly, there was no quorum, so no elections, and no annual meeting. Is this legal?? My concern is this behavior may continue any time someone doesn’t like something. Please advise. —Concerned Shareholder A “Elections are a contentious issue, and a day doesn’t go by without a shareholder call- ing my office to express dissatisfaction with Ferrara, a partner at Newman Ferrara LLP “While this kind of ‘meddling’ may ap- “Ultimately, elections boil down to a with the most votes wins. And the only way to counter the kind of situation or behavior support that would shift the odds and the “Like many New York City residents, I live in a co-op. When I was interested in sition, I engaged with my neighbors, asked so that change could be effected. That kind nothing to stop a shareholder from chang- the status quo to prevail. “As long as there was nothing illegal or il- or a last-minute change in position, would n Q&A continued from page 5 Disclaimer: The answers provided in this Q&A column are of a general nature and cannot substitute for professional advice regarding your specific circumstances. Always seek the advice of competent legal counsel or other qualified profes- sionals with any questions you may have regard- ing technical or legal issues. big country houses are empty nesters who long had plans of downsizing into a city co- op or condo … if only their remote property with its high-maintenance grounds could find a buyer. Enter the fleeing urbanites ready to pay top dollar for that echoey man- sion—the more isolated, the better—and dreams of city living can now be had … at prices lower than they were six months ago in some cases. Mansion reports that brokers in large, dense cities like New York, London, and Washington, D.C. are seeing downsizers seizing the day, undeterred by the prospect of city life in a pandemic. “Some people are taking advantage of this opportunity of urban sellers willing to listen to reasonable offers and low mortgage rates,” says Vickey Barron, an associate real estate broker with Compass real estate brokerage in New York City, who recently helped a Westchester County couple buy a Manhattan condo af- ter quickly selling their house for more than they expected. “But there are also just people who like the city and know it will come back strong.” Buyers are also seeing an opportunity to enter the New York co-op/condo market as an investment or pied-a-terre. Ellie Johnson, president for New York Properties for Berk- shire Hathaway HomeService, tells Mansion she is “seeing more buyers snapping up a New York place sight unseen because they see the opportunity when prices are adjusted by 10 to 20%.” Particularly, she continues, “people are selling a big asset, buying a home in Florida for the tax benefit, and buying a smaller place in New York City.” The home and building features that these buyers are looking for, notes Mansion, might be slightly different from what they were pre-pandemic. Larger layouts and out- door space feature prominently on buyers’ wish lists. “People want a larger terrace with 600 to 800 square feet,” says Barron, “not one of those little ‘smoking location’ balconies.” Views, while still important, take second fiddle to a second (or third) bedroom. And even though they may be closed for the time being, amenities like gyms are still appeal- ing, since the public alternatives have the potential to be less safe and more crowded. Certainly, the coronavirus has upended all kinds of housing plans. For some, it has meant relocating to a once unthinkable sub- urban existence; for others, it has hastened the long-sought departure from a large fam- ily abode to a centrally located apartment … with enough space for the grandkids, should they come to visit. n PULSE continued from page 4 Please submit Pulse items to Darcey Gerstein at darcey@cooperator.com Do you have an issue with your board? Are you wondering how to solve a dispute with a neighbor? Can’t find informa- tion you need about a building’s finances? Our attorney advisors have the answers to all of your legal questions. Write to The Cooperator and we’ll publish your question, along with a response from one of our attor- ney advisors. Questions may be edited for taste, length and clar- ity. Send your questions to: darcey@cooperator.com. Q&A  Over 30 years of coop & condo experience  Hands on Personal Attention Timely Service  Contact: Gary Adler, CPA Sarah Haar CPA   www.bassandlemer.com 516-485-9600 adler@basslemer.com