Commercial real estate in New York is a high-stakes business. With so much on the line, you need legal counsel with a sophisticated understanding of the law that applies to your transaction.
An enclosed greenhouse or sunroom can be a great selling point for a New York apartment or condo. But in many cases greenhouses are about to become a liability. In just over a year the New York City Department of Buildings will require many greenhouses to have a permit. Owners of noncompliant structures may be required to take them down.
Disputes between or among co-owners of real estate are fairly common in New York. People end up as co-owners of real property for a variety of reasons. In many cases they bought the property together as a business venture. Sometimes beneficiaries under a will or trust jointly inherit the property. And sometimes unmarried couples jointly purchase a property to live in.
The residential real estate market on Manhattan's Upper East Side is very healthy, with significant demand for high-end properties. So, when a homeowner tried to put his townhouse on the market recently, he probably expected it would attract some interest. Instead, a broker he contacted was not even willing to list it. In addition, after the $25 million property finally was listed six months ago, it did not attract a single offer.
A residential lease is a contract between tenant and landlord that sets out the rights and obligations of each party. As with any contract, careful drafting can help avoid future lease disputes. In addition to the terms in the lease itself, the landlord-tenant relationship in New York is subject to a number of state, federal and city laws.