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Co-op and condo board directors face a myriad of challenges they are not equipped to solve, and taking action can be a fraught experience. In this series, Habitat Magazine editors interview New York's leading co-op/condo attorneys for guidance on these challenges. Habitat, a New York City publication founded in 1982, is edited for co-op and condo board directors, property managers, and other professionals.
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Personal Liability While Serving On Your Board
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Serving on your co-op or condo board can be a terrific experience, but it can turn into a personal nightmare if you or your board acts improperly. There are many legal protections, however, and Geoffrey Mazel, partner at Hankin & Mazel, provides an overview of what they are and the precautions you need to take. Habitat’s Emily Myers conducts the in…
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Peter Massa, Partner, Armstrong Teasdale, is interviewed by Habitat Magazine's Bill Morris. A legal landmark. The business judgment rule has been around in corporate law for a long time. The theory is that board decisions will not be second-guessed by the courts — provided they’re made in furtherance of the corporation's legitimate interest and in …
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Leni Morrison Cummins, Partner, Cozen O’Connor, is interviewed by Habitat Magazine's Carol Ott. It all starts when sponsors decide how they’re going to allocate expenses between the residential and commercial portions of the building. Real Property Law 339M gives sponsors the ability to allocate expenses based on something other than a percentage o…
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Benjamin Flavin, Partner, Braverman Greenspun, is interviewed by Habitat Magazine's Carol Ott. Lessons for Co-op & Condo Board Directors The benefits. HDFC co-ops were created to provide affordable housing for people who may not otherwise be able to enter the New York City real estate market. There are also certain tax benefits that lower the cost …
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Lessons for co-op and condo board directors Evan Richman, Partner, Fleischner Potash is interviewed by Habitat Magazine's Carol Ott. What happened. In 2021 there was a disputed board election between two slates of candidates at a Port Chester condominium. Right before the election, the board issued a notice to all residents in the building letting …
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Christopher M. Tumulty, Partner, Fox Rothschild, is interviewed by Habitat Magazine's Bill Morris. Lessons for Co-op & Condo Board Directors First line of defense. Boards need a first line of defense when shareholders or unit-owners want to renovate or combine apartments. The best way to do that is to have an alteration agreement in place before th…
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Dean Roberts, Member, Norris McLaughlin, is interviewed by Habitat magazine’s Carol Ott. Lessons for Co-op & Condo Board Directors Duty to maintain confidentiality. If a board member is disclosing confidential information about a shareholder and that causes some harm or damage, in theory, the board has exposure because it failed to do its duty to m…
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Justin Buchel, partner, Schneider Buchel, is interviewed by Habitat magazine’s Paula Chin. Lesson for co-op/condo board directors: Burning issue: A unit-owner at a condo had a fire pit on the balcony, and people were up in arms — and scared — because there had been a recent fire at the condo. The board started legal action, but the unit-owner pushe…
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Stewart Wurtzel, partner, Tane Waterman & Wurtzel, is interviewed by Habitat magazine’s Bill Morris. Lessons for co-op/condo board directors: Fat fees. If you’re thinking about going to court, don’t base the decision on whether you're going to recover legal fees, because even if you’re entitled, there are a lot of questions. The fight over legal fe…
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Andrew Brucker, partner, Armstrong Teasdale, is interviewed by Habitat Magazine’s Carol Ott. Board lessons to learn: For minor changes. If it’s just an amendment, send out a short one- or two-page replication of what was changed, and say, “Please staple this to your proprietary lease.” You have to do this because if you ever end up taking a shareho…
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Moshe Bobker, partner, Tane Waterman & Wurtzel, is interviewed by Habitat magazine’s Paula Chin. Board lessons to learn: -The backstory. An elderly shareholder was causing safety and nuisance issues with her hoarding, and neighbors were complaining about odors and infestation. The board tried to resolve the issue by having the super help her clear …
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Ingrid Manevitz, a partner at Seyfarth Shaw, is interviewed by Habitat Magazine's Carol Ott. What it is. Typically in many condominium buildings, the right of first refusal works like this: when a unit-owner goes to sell or lease their unit they provide a copy of the fully executed lease or fully executed contract of sale to the board, usually by c…
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Steven Sladkus, partner, Schwartz Sladkus Reich Greenberg Atlas, is interviewed by Habitat Magazine's Carol Ott. Board lessons to learn: Get involved. If there are complaints being made by neighbors, the board has a fiduciary duty to all shareholders to make sure they can peaceably enjoy their apartments. So when a dog is barking and it's bothering…
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