New York COOP CONDO and Real Estate Law
Buying or selling a home is often the most significant transaction that anyone undertakes in his or her lifetime. While this can be an exciting time, without the proper legal counsel, the process can be frustrating and more expensive than necessary.
In residential real estate transactions, which include the purchase and sale of single-family homes, co-ops, and condos and townhouses, we represent buyers, sellers and financial institutions in connection with everything from drafting a Purchase and Sale Contract through obtaining the final Title Insurance Policy and Closing.
We handle all aspects of the financing of real estate and asset-based lending projects, representing borrowers in connection with numerous complex and diverse types of business and real estate financing, including refinancing, first and subordinate mortgage loans, and unsecured and secured lines of credit.
Navigating the world of co-op ownership in New York City can be challenging due to the unique structure and legal requirements of co-ops. Unlike condominiums, co-op purchases involve buying shares in a corporation that owns the building, and the board of directors has significant control over the sale process. Whether you're buying or selling, it's essential to have a knowledgeable attorney to ensure a smooth transaction and avoid costly mistakes.
The process of buying a co-op in New York City involves more than just agreeing on a price. The transaction includes:
✔ Board Approval – Unlike condos, co-ops require approval from the co-op board before you can purchase the unit. We guide you through the board application process, helping you prepare and submit the necessary documents, including financials, references, and personal statements.
✔ Due Diligence – We conduct thorough due diligence, including reviewing the co-op’s financial statements, meeting minutes, and proprietary lease, to ensure that you are aware of the building’s financial health and any potential issues.
✔ Contract Negotiation – We help negotiate the purchase agreement, ensuring the terms protect your interests and adhere to co-op regulations.
✔ Financing – Co-ops may have specific lending requirements, such as a higher down payment or a more limited pool of lenders. We assist in reviewing financing options and working with your lender to secure the best terms for your purchase.
Selling a co-op involves more than just listing the property. It requires a thorough understanding of the co-op’s bylaws and board approval process. We help sellers with:
✔ Preparing the Listing – We assist in determining an appropriate listing price based on market trends, building amenities, and comparable sales.
✔ Board Application & Approval – We ensure that your buyer’s board application is complete and correctly submitted, facilitating a smooth approval process.
✔ Negotiating the Sale Agreement – We draft and negotiate the sale contract on your behalf, ensuring that all terms comply with the co-op’s rules and regulations, including post-closing liquidity requirements, flip taxes, and any building-specific restrictions.
✔ Handling Closing Requirements – We help coordinate the closing process, including ensuring that title issues are resolved, and all required documents are in order for a successful transfer of shares and proprietary lease.
Co-op transactions in New York City are notoriously complex and time-consuming. Having an attorney who is well-versed in co-op regulations and experienced with the approval process can make all the difference. Whether you are a first-time buyer or a seasoned seller, we are here to provide you with clear, expert legal guidance every step of the way.
Purchasing or selling a condominium in New York City offers more flexibility than co-ops but still requires careful attention to legal requirements and regulations. Condos offer individual ownership of units and shared ownership of the common areas, which makes the buying and selling process different from other types of real estate transactions. Whether you're buying or selling, you’ll want an experienced attorney to guide you through the process with ease.
Buying a condo in New York City is an exciting prospect, but it involves several important steps to ensure that the process goes smoothly:
✔ Reviewing the Offering Plan – We help buyers review the condo’s offering plan, board minutes, and other documents that provide critical information about the building’s financial health, management, and any ongoing or upcoming issues that may affect your ownership.
✔ Due Diligence – Our team ensures that all necessary due diligence is conducted, including reviewing financial statements, reserve funds, and understanding any rules and restrictions imposed by the building.
✔ Contract Negotiation – We help negotiate the purchase agreement, ensuring that the terms reflect your best interests and align with the unique aspects of condo ownership. We’ll address HOA fees, maintenance charges, and any conditions specific to the building.
✔ Financing – Condos generally have more flexible financing options than co-ops, but we still assist you in understanding the lender’s requirements and in securing the best possible mortgage terms.
Selling a condo is a straightforward process, but it requires an understanding of the building’s bylaws, board approval processes, and other condo-specific factors. We help sellers with:
✔ Preparing the Listing – We work with you to set a competitive listing price, factoring in market trends, building amenities, and recent sales within the building or area.
✔ Contract Negotiation – We assist in drafting and negotiating the sale contract, ensuring that all terms are favorable and comply with the condo’s rules, including maintenance fees, transfer fees, and any building-specific requirements.
✔ Handling Condo Board Approval – While condo boards generally have fewer restrictions than co-op boards, some may still require board approval. We guide you through this process to ensure timely approval for your buyer.
✔ Coordinating the Closing – From title checks to finalizing the financials, we handle the details to ensure a smooth closing. We’ll work with your buyer’s attorney and other involved parties to finalize all paperwork and complete the sale.
The condominium market in New York City is competitive and often fast-paced. Having an experienced attorney who understands the intricacies of condo ownership—such as board approval, association fees, and building bylaws—can make all the difference. Whether you're a first-time buyer or an experienced seller, our team is here to help guide you through the complex process with confidence and care.
Whether you're buying or selling a home or townhome in New York City or Long Island, having an experienced attorney by your side is essential for a smooth and successful transaction. Homes and townhomes each have unique considerations, and understanding the local market, property types, and legalities is crucial. Our team of real estate attorneys provides expert guidance for all aspects of these transactions.
Purchasing a home or townhome is one of the most significant financial decisions you will make. Here's how we support you through the process:
✔ Property Review and Due Diligence – We begin by thoroughly reviewing the title, zoning, and property survey for both homes and townhomes. We also assess the property condition and any related homeowners association (HOA) or shared space agreements that apply to townhomes.
✔ Contract Negotiation – We help you negotiate the purchase agreement, ensuring favorable terms on the sale, including price, contingencies, and any shared ownership responsibilities, especially important for townhomes with shared walls or common areas.
✔ Navigating Financing – Whether you're purchasing a single-family home in Long Island or a townhome in NYC, we guide you through the financing process. We help you understand mortgage terms, HOA fees, and any special assessments that could impact your financing.
✔ Coordinating with Sellers and Agents – From contract signing to due diligence to closing, we work directly with your agent and the seller’s attorney to ensure that everything is in order, minimizing any potential delays in the process.
Selling a home or townhome requires attention to detail to ensure a smooth sale. Our team is here to help sellers in both New York City and Long Island with:
✔ Pricing and Market Assessment – We help you set a competitive price for your property by analyzing recent market trends, comparable sales, and property features. We ensure your listing attracts the right buyers by understanding the specific selling points of homes and townhomes in both areas.
✔ Preparing Necessary Documents – For homes, we ensure the title is clear, and for townhomes, we ensure any HOA agreements, maintenance fees, and shared responsibilities are properly disclosed. This transparency helps build trust with potential buyers.
✔ Handling Negotiations and Contracts – We review and negotiate the sale contract, addressing important aspects like purchase price, terms, and contingencies, especially in the case of townhomes, where there might be unique stipulations related to shared property elements or building-wide rules.
✔ Smooth Closing Process – We manage all aspects of the closing process, ensuring that title transfers and financing details are completed properly. Our goal is to facilitate a seamless closing while protecting your interests throughout the transaction.
Whether you're buying or selling a home or townhome in New York City or Long Island, the legal complexities can vary widely based on property type, location, and financing. Our team has the knowledge and expertise to guide you through all aspects of the transaction, from title checks to contract negotiations to closing. We are committed to ensuring that your real estate experience is positive, and your legal interests are fully protected.
Neighbor Access Agreements (Licenses)
When undertaking construction in New York, especially in dense urban areas like Brooklyn and Manhattan, property owners often need temporary access to a neighboring property for scaffolding, foundation work, waterproofing, or other construction-related tasks. This requires a neighbor access agreement, also known as a license agreement, a legally binding document that protects both parties and helps avoid disputes.
As an experienced New York real estate attorney, I assist clients in negotiating, drafting, and enforcing neighbor access agreements (licenses). Whether you’re a property owner seeking access or a neighbor protecting your rights, I ensure the agreement covers:
✔️ Scope of work – Defining exactly what access is needed and for how long
✔️ Insurance & indemnification – Ensuring proper protections in case of damage or injury
✔️ Compensation & security deposits – Addressing fair compensation for access and potential disruptions
✔️ Dispute resolution – Establishing clear terms to prevent legal conflicts
If you need help securing a neighbor access agreement (license) for your construction project, contact me today to discuss your legal options.
Negotiating Contractor Agreements, Including AIA Contracts
Hiring a contractor for a construction project—whether residential, commercial, or development—requires a well-structured agreement to protect your interests. Standardized contracts, such as those issued by the American Institute of Architects (AIA), provide a strong foundation, but they often require modifications to address project-specific risks, responsibilities, and expectations.
I assist property owners, developers, and contractors in negotiating, drafting, and reviewing contractor agreements, including AIA contracts and custom agreements tailored to specific projects. My goal is to ensure that your contract minimizes risks, protects your investment, and provides a clear roadmap for a successful project.
If you need legal guidance on structuring a contractor agreement, contact me today to discuss your needs.