Residential + Condo / Coop Matters

Buying, selling, or managing a home in New York City is unlike real estate anywhere else. It is fast-paced, high-stakes, and often involves layers of rules that can surprise even seasoned buyers. When you are dealing with a co-op board, reviewing a condo offering plan, or trying to close on a townhouse, you need more than just someone to file paperwork. You need an advocate who understands the construction side, the financial implications, and the specific quirks of New York neighborhoods. 

At MDJ Law, I understand the unique pressures of residential real estate in this city. My firm offers a different kind of legal support—one that combines deep industry knowledge with a practical, hands-on approach. I serve clients across all five boroughs of New York City and am also licensed to practice in Washington, D.C., helping clients handle matters in both jurisdictions. 

People often ask why they need an attorney for residential matters, especially if they have a real estate agent. While agents are vital for finding a property and negotiating the price, they cannot offer legal advice or protect you from contractual pitfalls. A residential transaction is likely the largest financial move you will make. 

Having legal counsel means someone is looking out exclusively for your interests, catching red flags in board minutes, and making sure the contract terms don't leave you exposed. Whether you are a first-time homebuyer in Brooklyn, selling a luxury condo in Manhattan, or dealing with a co-op dispute in Queens, MDJ Law is here to guide you through the process. 

Understanding the Condo vs. Co-op Distinction

In many parts of the country, you simply buy a house. In New York, it is rarely that simple. The distinction between a condominium and a cooperative (co-op) is fundamental to how we approach your transaction. 

When you buy a condo, you are purchasing real property. You get a deed. You own the unit itself and a percentage of the common areas. Condos generally offer greater flexibility in subletting, renovations, and financing. They are often preferred by international buyers and investors because the approval process is usually less rigorous. However, closing costs on condos can be higher due to mortgage recording taxes and title insurance requirements. 

A co-op, on the other hand, involves buying shares in a corporation that owns the building. Instead of a deed, you get a proprietary lease allowing you to live in a specific unit. Co-ops make up the majority of NYC's housing stock. They are typically more affordable than condos but come with stricter rules. The co-op board has significant power to approve or reject buyers, often without giving a reason. They also tend to have tighter restrictions on subletting and renovations. 

My role is to help you see the full picture before you sign. For a co-op, that means doing heavy due diligence on the building's financials. Is the reserve fund healthy? Are there big capital improvements coming up that will cause maintenance fees to spike? For a condo, it means checking the bylaws to see if your plans for the unit—like renting it out or doing a gut renovation—are actually allowed. 

The Due Diligence Phase

The period between an accepted offer and contract signing is critical. This is where I dig into the details. I do not believe in glossing over potential issues. If there is a problem with the building or the unit, I want you to know about it now, not after you move in. My due diligence process typically includes: 

• Reviewing board minutes: This is often where the real story of a building lives. Are there noise complaints? Bed bugs? Leaks that never seem to get fixed? Is the board constantly fighting? These minutes can reveal the quality of life in the building better than any listing description. 

• Financial analysis: I examine the building's financial statements for the last few years. We look for operating deficits, low cash reserves, and pending litigation that could result in assessments against shareholders or unit owners. 

• Offering plans and amendments: For new developments or conversions, the offering plan is a comprehensive document that outlines the sponsor's promises. I review this to ensure you are getting what you pay for and to understand the sponsor's ongoing control over the building. 

• Department of Buildings search: We check for open permits and violations. You do not want to inherit a renovation nightmare in which the previous owner removed a load-bearing wall without a permit. 

New York Laws Related to Residential + Condo / Coop Matters

New York's legal framework for housing is specific and rigorous. Several key laws dictate how these transactions and living arrangements function. 

The Martin Act is perhaps the most significant piece of legislation regarding real estate securities in New York. It gives the New York Attorney General broad powers to regulate the sale of condos and co-ops. Under this act, developers (sponsors) must file an offering plan that fully discloses all material facts about the property before they can sell units. This law is designed to protect you from fraud and misrepresentation. It means a developer cannot promise luxury finishes and deliver standard ones without disclosing the change, nor can they hide structural issues. 

Another critical area involves Proprietary Leases and House Rules for co-ops. These documents are legally binding contracts. New York courts generally follow the "Business Judgment Rule" when reviewing decisions made by co-op boards. This means that as long as a board acts in good faith, within its authority, and for the benefit of the co-op, courts will rarely overturn their decisions. This is why reviewing the specific house rules before you buy is essential—if the board says no dogs, the courts will likely back them up. 

Additionally, the Housing Stability and Tenant Protection Act of 2019 brought changes that affect co-ops and condos, specifically regarding application fees and security deposits. While largely aimed at traditional rentals, certain provisions impact how boards can handle fees and escrow for subleases. Understanding these statutes helps us make sure you aren't being overcharged or subjected to illegal fees during the application process. 

Contract Negotiation and Closing

Once we are satisfied with the due diligence, we move to the contract. Standard forms exist, but they are rarely sufficient on their own. I draft riders to the contract to add specific protections for you. 

If you are selling, I work to limit your liability after the closing. We want to make sure that once you hand over the keys, you are free to move on without worrying about future claims. If you are buying, I fight for contingencies that allow you to walk away with your deposit if specific conditions aren't met, such as financing failure or issues discovered during the final walkthrough. 

The closing itself is the finish line. I coordinate with the bank attorney, the title company, and the other party's counsel to calculate the final adjustments for taxes and common charges. I explain every document you sign so you know exactly what you are agreeing to. My goal is a smooth, boring closing—no surprises, no drama, just keys in your hand or a check in your account. 

Beyond the Transaction: Disputes and Governance

My work doesn't always end at the closing table. I also represent individual owners and shareholders when conflicts arise with their boards or neighbors. 

Living in close quarters in NYC inevitably leads to friction. You might face a leak from the upstairs neighbor that damages your apartment, and the board refuses to get involved. Or perhaps you want to combine two units, and the board is unreasonably delaying your alteration agreement. I help clients handle: 

• Alteration agreements: Negotiating the terms under which you can renovate your unit. 

• Board disputes: addressing unfair fines, rejected applications, or failure to make repairs. 

• Neighbor nuisance Issues: Handling noise, smoke, or harassment complaints legally and effectively. 

I also advise small co-op and condo boards on governance issues, helping them run compliant meetings, update their bylaws, and handle difficult shareholders. Having a background in construction management allows me to offer practical advice when boards are facing major repair projects or local law compliance issues, such as façade inspections. 

New York Real Estate Law Attorney

At MDJ Law, I handle a full spectrum of real estate needs, from buying and selling homes to managing construction issues, disputes, and general legal guidance. My background includes supervising more than $1 billion in commercial lease deals for major property owners and families, as well as helping local shops and tenants. With over 10 years of practicing law in New York City and hands-on experience in real estate development, I bring a practical, focused perspective to your situation. Call my office today to schedule a consultation.