I teach real estate licensing and continuing education courses at New York University and Long Island University. My question is with regard to Form 86, co-op sublets. It is my understanding that New York State law allows a tenant named on …
Winston Churchill once said that “Attitude is a little thing that makes a big difference,” and that couldn’t be more apt for those who live in multifamily buildings. Co-op board members and managing agents sometimes complain that res…
Most New York residents—and certainly most New York attorneys are aware of the Warranty of Habitability. Few may know that its origins are statutory, and fewer still care that it contradicts common law, but most would be surprised by the t…
While the New York City housing market has not suffered as much as in other parts of the country, there are some new construction condominiums that hadn’t sold as much as the developer had hoped. That’s why a recent trend in condos in th…
Anyone who lives in a city that is a popular tourist destination has likely played host to a procession of family, friends, friends-of-family, and other assorted houseguests over the years. It's something of a running joke in places li…
To buy or not to buy? That is the question.” Taking a cue from Hamlet, this question is on the minds of many contemplating moving to New York City these days. “Many are taking advantage of this slightly-down market by buying, w…
Last December, The William Beaver House, located at the heart of New York’s Financial District, sat with 209 of its 320 units unsold—units priced from $900,000 to well over $2 million each. Unfortunately, while sales had gone well for th…
In today’s difficult economic times, more and more co-op and condo owners and boards are constantly on the lookout for new ways to improve their bottom line. It’s one of the many reasons that more and more renters are moving into co-op a…
Renting out their unit has long been a strategy for condo owners (and some co-op shareholders) who—usually because of an extended absence, or as an extra revenue stream—wish to retain ownership of an apartment that they’re not living in …
When you walk down many large commercial thoroughfares in New York, whether it’s Fifth or Madison Aevnue in Manhattan, Kings Highway in Brooklyn or Main Street in Flushing, you’re sure to notice many more empty stores than usual—living p…