Survival Mode in NYC Real Estate
Update: 2020-03-31
Description
New Yorkers who don’t abide by social distancing may want to watch out for their condo and co-op boards or rental buildings.
The state has barred social gatherings and ordered employees of non-essential businesses to stay home. Not everyone, of course, is following the rules.
So, condo and co-op boards and rental buildings are exploring their options for dealing with residents who, say, grant access to the building for friends and family members or others. Attorneys are recommending that buildings seek “emergency injunctive relief” if neighbors don’t follow the state’s guidelines.
The last thing anyone wants is litigation, but in this particular context, if people’s health, safety and welfare are potentially being jeopardized, that seems a good enough reason. You are at risk every time you leave your apartment for anything.
Also today: Nearly 450 homes were pulled off the market, new listings plummeted and contract signings sank in New York City last week due to COVID-19.
The state has barred social gatherings and ordered employees of non-essential businesses to stay home. Not everyone, of course, is following the rules.
So, condo and co-op boards and rental buildings are exploring their options for dealing with residents who, say, grant access to the building for friends and family members or others. Attorneys are recommending that buildings seek “emergency injunctive relief” if neighbors don’t follow the state’s guidelines.
The last thing anyone wants is litigation, but in this particular context, if people’s health, safety and welfare are potentially being jeopardized, that seems a good enough reason. You are at risk every time you leave your apartment for anything.
Also today: Nearly 450 homes were pulled off the market, new listings plummeted and contract signings sank in New York City last week due to COVID-19.
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