When owners of co-op apartments or condos in New York City want to renovate or remodel their units, significant legal issues can arise. The bylaws of the condo association or the co-op corporation must be consulted, as well as local building codes and city and state laws.
Condominiums have long been a popular form of housing in New York City. A new surge in condo development and construction will put twice as many units on the market in 2015 as in 2014. It is predicted to be the greatest number of new condo units opening for sale in the city since 2007.
Litigation is a risk that comes with the territory on big real estate developments. The L Lofts condominium project in Brooklyn is no exception. The developers have recently been hit with a lawsuit alleging the developers failed to remedy a number of construction defects in the property.
Thousands of buildings in New York are equipped with either rooftop or indoor water tanks. From these tanks, water is piped throughout the buildings for drinking, washing and fire suppression. According to city building codes, water storage tanks must be constructed of either steel or wood.