If you're in the market for a condominium in New York, it is a good idea to research the building, the condo board and the developers. One way to start this research is to seek help from an attorney with experience in the field. For example, reviewing the often complicated language of condo board minutes can help potential buyers decide if they want to go through with a deal.
Right now, demand for retail space in New York is especially strong. That is why investors are undoubtedly interested RadioShack's recent announcement that the company intends to close 1,100 U.S. stores. While the exact locations of those stores weren't reported, New York's generally high rents are likely to make many of the city's RadioShack locations ripe for closure.
Some landlords in New York have reportedly implemented discriminatory building policies with regard to rent-regulated tenants. In particular, there have been reports that common areas and amenities were exclusively reserved for tenants who pay market-rate rent.
The sponsors and developers of condominiums have a responsibility to make good on agreed-upon construction projects, and shoddy work is no substitute for a completed job. Civil litigation is one way for condominium residents to hold building sponsors accountable for construction defects, and with allegations of particularly egregious failures, state law enforcement may actually get involved.