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Co-Op & Condo Case Watch: Endless Renovations

Co-Op & Condo Case Watch: Endless Renovations

Alteration Agreement Signed In February 2019, Stefan Brodie and Irina Denisova, unit owners in the Aldyn Condominium at 60 Riverside Drive, signed an alteration agreement and submitted the required $10,000 security deposit to renovate their apartment. The project timeline submitted to the board indicated that renovations would be completed by September 2020, but by spring 2022 the work had not been completed. The alteration agreement provided for the assessment of  a $500-per-day charge for each day that the renovation continued beyond a “Required Completion Date.” 

Board Steps In  Because the duration of the project exceeded the board’s expectation, the board issued a “stop work notice,” issued fines, and seized the security deposit the unit owners had paid. 

August 16, 2022 — The Habitat Group
Tags: co-op Co-op and condo renovations
Co-op & Condo Case Watch: Timing Is Everything

Co-op & Condo Case Watch: Timing Is Everything

The Bakers owned a penthouse apartment at 16 Sutton Place, which included the exclusive use of a terrace that adjoined their apartment. In May 2019, the Board proposed a proprietary lease amendment that reallocated responsibility for maintenance, repair and replacement of the private terraces, and at the annual meeting on May 30, two-thirds of the shareholders consented to this change. In July 2019 the Board notified the shareholders of the new amendments. Local Law 11 façade work was scheduled to begin in April 2020, and in a March 9 letter the co-op notified the Bakers that their share of the cost of the work would be $23,991.53, to be invoiced in three equal installments.
May 24, 2022 — The Habitat Group
Tags: case law tracker Co-op and condo NYC