New York City residents know that there are pros and cons to living in a co-op versus a condominium. One area of contrast is in estate planning, or the transfer of property to a beneficiary upon the resident’s death. Condo owners obtain the rights to the real property...
In a city already brought to its knees by a global pandemic and the resulting economic turmoil, climate scientists at the National Oceanic and Atmospheric Administration are predicting an especially active hurricane season. Warmer ocean surface temperatures and...
The New York Times recently reported that wire fraud has been on the rise in real estate transactions, especially with the rise of rapid-fire negotiations conducted online and via email. Victims of wire fraud have received detailed emails with instructions for wiring...
It’s that time of year again. As we enter the final stretch of the year, in addition to holiday gifts for loved ones and friends, apartment dwellers also have to consider holiday tips for their building staff. Are you required to tip? Usually not, but it’s an...
An easement is a fairly common legal right to use or enter someone else’s property without having direct ownership rights. Oftentimes this type of arrangement will exist formally between neighbors, and in other cases there may be an easement allowing a local...
Commercial spaces leased out to businesses are often a vital source of revenue for co-ops. However, as we have written about recently (see our October 4 blog), New York City has faced its own version of the “retail apocalypse” in the last few years, with Manhattan...