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Over the past decade, numerous pieces of legislation have been introduced at the state and city levels calling for the licensing of property managers in New York State. None have been passed, but a new bill, S279 sponsored by New York State…
Beyond the obvious differences—taxicabs versus cacti, towering high-rises versus wide-open spaces, big business versus big-sky country—there’s more separating the New York real estate scene from the rest of the country than just geography a…
The Internal Revenue Code’s Section 216 authorizes cooperative apartment owners to receive a pass-through tax deduction for their proportionate share of the mortgage interest and real estate taxes paid by a qualifying co-op corporation. One…
Perhaps you’ve seen the commercials on television; a mob of people shouting “The Internet is slow as heck, and we’re not going to take it anymore!” Or the one where a succession of comedians tell jokes beginning with “My internet service is…
One of the unique features of performing construction work in a cooperative or condominium apartment is that it must usually be performed pursuant to an alteration agreement that addresses what, where, when and how construction work is to b…
Under the sweeping shade of the World Trade Center, something miraculous is happening—a neighborhood is coming to life. Once the enclave of intense financiers worried more about the bottom line than where they would hang their hats, Manhatt…
A couple years ago, I became genuinely surprised to learn of conflicting opinions throughout the legal community and in court decisions (including rulings from New York State Supreme Court’s Appellate Division) which centered on how to clas…
"Foreclosure" is a word no co-op or condo owner wants to hear, but when residents fall behind on maintenance fees or common charges - when their financial burden becomes too large to shoulder - sometimes foreclosure can be the only answ…