Go to main navigation
98 Cutter Mill Road, Suite 441, Great Neck, New York 11021-3006
Schedule a Consultation 800-206-7375 800-206-7375

__Cooperative Housing Law

When owners of commercial facilities and multi-family apartment buildings make the decision to convert their properties to cooperatives or condominiums, they will need informed legal guidance to ensure that the process is handled correctly and expediently.

The Attorney General’s Role in Cooperatives and CondosIt is the duty of the Attorney General to safeguard the rights of the people of New York. In that capacity, the AG’s Office of Economic Justice oversees the Real Estate Finance Bureau.

“The Real Estate Finance Bureau reviews all offering plans for the offer and sale of real estate securities in or from the State of New York, including interests in cooperatives, condominiums, homeowners associations and timeshares, to ensure that they provide disclosure of all material terms of the offer. The Bureau accepts such offering plans for filing when satisfied that disclosure is adequate.”

“In addition … the Bureau has an enforcement section which investigates complaints regarding these offerings and can initiate both civil and criminal actions pursuant to the Attorney General’s powers under the Martin Act, General Business Law, §352 et. seq. and the Executive Law §63(12).”

 Source: State of New York, Office of the Attorney General

The New York cooperative housing law attorneys at The Law Offices of Newman & Drukman are experienced in all aspects of real estate law, including cooperative and condominium conversions. Their many years of practice in areas of finance, contracts, business planning, commercial leasing, construction law, and other specialties related to real estate development make our New York cooperative housing lawyers the strongest choice when for informed and reliable representation during a conversion or for other matters related to condominiums or cooperatives.

Plans for the offering of condominiums or cooperatives involve preparation of complex documents that must include specified information about the property:

●  A full description of the building
●  Details on financing
●  Specific obligations and rights of all parties
●  Documents
●  Certifications
●  Disclosure of purchase procedures
●  Agreements for operations

New York requires that every condominium or cooperative offering be reviewed and approved by the Office of the Attorney General. The New York cooperative housing law attorneys at The Law Offices of Newman & Drukman know how to plan and prepare the documentation you’ll need. We understand the review and approval process and will represent you throughout. In addition, our firm can provide knowledgeable management of such issues as:

●  Commercial leases
●  Residential leases
●  Proprietary leases
●  Unit sales or transfers
●  Drafting, review, or amendment of by-laws
●  Contracts
●  Shareholder matters

New York cooperative housing lawyers at The Law Offices of Newman & Drukman have demonstrated skills in working with sponsors, boards, and shareholders of cooperatives and condominiums. We take a strategic approach that is designed to provide exemplary legal service and outstanding representation based on your unique interests and objectives. If you are considering a cooperative or condominium conversion, or if you are facing another legal challenge related to condominiums or cooperatives, we invite you to contact our firm to schedule a consultation. Telephone our offices at (516) 487-7375 or contact us online.

The Law Offices of Newman & Drukman represent clients throughout the New York City and Long Island area, including Queens, the Bronx, and Nassau and Suffolk counties.