BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M In the context of New York City (NYC) condominiums, the “Board of Managers” refers to the governing body responsible for the administration, management, and decision-making of the condominium association. The Board of Managers is responsible for overseeing the operation, maintenance, and governance of the condominium property […]
Category: Real Estate
The Business Judgement Rule for NYC Co-ops
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M The Business Judgment Rule is a legal principle that applies to the decision-making of the board of directors or board of managers of a cooperative corporation (co-op) in New York City (NYC) and other jurisdictions. It provides a level of protection to board members by […]
Election issues involving NYC Condo boards
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Election issues involving NYC condo boards can encompass a range of legal and procedural matters related to the election of board members and the governance of condominium associations. Condo board elections are essential for the proper functioning and representation of unit owners. Here are some common […]
NYC Condo laws revolving emotional support animals
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Emotional support animals (ESAs) are an important aspect of housing law, including within NYC condos. Under the Fair Housing Act (FHA) and the New York City Human Rights Law (NYCHRL), individuals with disabilities have the right to request reasonable accommodations, including having emotional support animals in […]
The legal complications of multiple tenants in NYC Coops
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Having multiple tenants in a New York City (NYC) cooperative (co-op) can introduce various legal complications and considerations that both the co-op board and the tenants need to be aware of. Here are some of the key legal issues that can arise: Subleasing and Alteration […]
NYC lease laws involving real property
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Lease laws involving real property in New York City (NYC) are governed by a combination of state laws, local regulations, and case law. These laws outline the rights and responsibilities of landlords and tenants in residential and commercial lease agreements. Here’s an overview of NYC lease […]
The legal intricacies involving NYC Broker commission liens
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M In New York City (NYC), real estate broker commission liens are legal claims that brokers may assert to seek payment for their services in assisting with the sale or lease of real property. These liens can complicate property transactions and involve various legal intricacies. Here’s an […]
Usable Square Feet with regards to reference in NYC condos and coops
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M “Usable square feet” refers to the area within a property that can be utilized for various purposes, such as living space, working space, or other functional uses. In the context of New York City (NYC) condos and co-ops, the term “usable square feet” is often used […]
Selling air rights in NYC
BY JOHN KIRITSIS, ESQ., CPA, MBA, MS, JD, LL.M Selling air rights, also known as development rights or transferable development rights (TDRs), is a process in which property owners in New York City (NYC) can transfer the unused development potential of their property to another site for the purpose of increasing the allowable floor area […]