Condominium bylaws serve as the foundation for a harmonious and well-functioning community. They provide structure, outline responsibilities and protect both the condo association and individual unit owners. However, bylaws can do more harm than good when they become...
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Critical maintenance issues to confirm in a commercial lease
Signing a commercial lease is a more flexible solution than purchasing real property for a business. In some cases, commercial leases may impose surprising obligations on tenants. Business leaders preparing to sign new commercial leases may need to review the...
Navigating board turnover: Tips for commercial property owners
Frequent changes on a commercial property board can cause confusion and lower property values. When leadership changes too often, new board members bring different ideas that can interrupt important plans, causing the association to lose focus and direction. Proactive...
What is the quiet enjoyment provision?
Imagine arriving at your office to find construction noise so loud your team can't make calls. Or your retail space suddenly lacks heating during winter, driving away customers. These are valid concerns—and protected rights under the law. Unfortunately, some NYC...
How to avoid common disputes regarding special assessments
In condominiums, the board of directors can sometimes charge additional fees beyond regular dues. These extra fees, also known as special assessments, provide a financial lifeline for unexpected expenses and major projects. But while special assessments are crucial...
Green building upgrades: A guide to ROI and compliance
Building owners face pressure from all sides to "go green." Environmental regulations, tenant demands and rising utility costs all play a role. Yet, the real challenge lies in finding upgrades that deliver both solid returns and regulatory compliance. Here's a simple...
Navigating U.S. commercial real estate for foreign investors
Foreign investors eyeing the U.S. commercial real estate market face a complex landscape. If you are a foreign investor aiming to enter this market, you must consider the intricacies of U.S. commercial laws to establish a successful presence. As a business, you must...
It may be time to renegotiate your long-time leases in NYC
Nothing demonstrates the plight of commercial real estate today more than the sale of this mid-sized building in Manhattan. Bought in 2006 for $332 million, 135 West 50th Street in Midtown sold for a mere $8.2 million last Wednesday, July 31, 2024. It was the most...
Understanding easements when buying commercial property
Understanding easements is crucial when buying commercial property. Easements can significantly impact the use and value of your property, so it's essential to be well-informed before making a purchase. What is an easement? An easement is a legal right that allows...
Three common roadblocks in condominium management
Managing a condominium involves more than just overseeing the property. It demands skillful management of complex challenges. Condominium associations often face a range of issues that can affect the community’s functionality and harmony. Understanding these problems...