Practical Solutions In Court and Out
AMT CADC Venture v. 455 CPW, Supreme Court, New York County Index No. 810109/2011
In this mortgage foreclosure action, the court addressed the issue of what constitutes a “first mortgage” for purposes of Real Property Actions and Proceedings Law 339-z. This statute provides that the condominium will have a priority lien for unpaid common…
1855 7 Ave. Housing Dev. Fund v. Wigfall, New York County Landlord-Tenant Court, Index No. 81069/2010
In this residential landlord-tenant case, a co-op board was successfully able to terminate a tenant-shareholder’s proprietary lease based upon objectionable conduct in violation of the House Rules and the Proprietary Lease that created a nuisance and an unhealthy…
Kaplan v. Park South Tenant Corp., New York County Supreme Court, Index No. 157669/2013
While the business judgment rule often protects a decision by a co-op board from legal challenge, there are times when it does not. As a recent decision by New York County Supreme Court Justice Arthur Engoron demonstrates, the Board’s business…
Waithe v. Citigroup, Inc., Kings County Supreme Court, Index No. 24434/2012
As most real estate lawyers understand, co-0p owners do not own real estate. They own stock in a cooperative apartment corporation and an appurtenant proprietary lease. Therefore a co-op is not technically “mortgaged,” but rather a co-op loan is secured by a lien…
Goldstone v. Gracie Terrace Apartment Corp., Appellate Division, First Department Index No. 604235/2007
This case confirms that irreparable harm is a critical element of any application for injunctive relief. After suffering extensive damage to her co-op apartment, the co-op proposed repairs to the apartment that would have reduced the square footage of the 1,400 square…