Weiss & Weiss would like to wish all a Happy Thanksgiving in 2025.
Veterans Day 2025
Weiss & Weiss would like to thank all who have served our country on this Veterans Day.
Happy Labor Day
Weiss & Weiss would like to wish all a Happy Labor Day 2025.
Social Media Influencer Fails to Stick the Landing: New York Cooperative Board Rejection
News outlets have reported that former gymnast Livvy Dunne’s application to purchase a NYC apartment once owned by Yankees legend Babe Ruth was rejected by the cooperative board. Although the news was disappointing to the young social media influencer, such a decision was mostly likely a prudent one and not entirely unexpected. This post will provide a legal analysis of cooperative board declinations.
We have previously written about the cooperative board approval process. So long as the purchaser was not rejected due to illegal discriminatory reasons, a rejection is considered to be legally tenable. Further, the reasons for the declination need not be disclosed. Applicants are legally protected from discrimination if the reason that they are rejected is due to characteristics such as their race, religion, sexual orientation and the like.
Dunne’s proposed purchase was purportedly an all cash purchase, with no bank loan. Her board application would have included proof of funds and other financial details. Ironically enough, some boards prefer to approve a purchaser who is using a bank loan for the purchase, since the lender has professionally evaluated the creditworthiness of the proposed purchaser. Dunne’s livelihood as a social media influencer may have been seen as without substance and fleeting by the board. Should she “go out of style”, her income may become depleted and her ability to maintain financial obligations to the building may not be met in the future.
Independence Day 2025
Weiss & Weiss would like to wish all a happy and healthy 4th of July.
Homeowners’ Associations in New York – The Basics and Non-Payment of Dues
Although they are not as prevalent in New York State as they are in other states, Homeowners’ Associations still exist here, and may raise significant legal issues for those who are members, as well as for the Association itself.
The main reason that there are not as many Homeowners’ Associations in New York is probably because of the large number of condominiums and cooperative units in our state, especially in the New York City area. Condos and coops are legal associations which connect owners of various units, usually apartments. In a cooperative, each unit owner purchases shares in the cooperative corporation, rather than actual real estate. The coop unit owner also acquires a proprietary lease allowing occupancy of a particular apartment. A condominium operates similarly, but owners in a condominium purchase the actual real estate, rather than shares, and own their individual units, as well as a portion of the common areas.
A Homeowners’ Association operates similarly, but has differences from a condo or coop. Each homeowner owns his individual real estate, which can be an apartment or, more commonly, a house. Membership in an Association is generally mandated by the Declaration filed for the development in question and referenced in the deed to the property. The Association is a separate legal entity, and is authorized by its by-laws to collect dues. These dues are then used by the Association to pay common charges associated with the properties, such as water and sewer charges and maintenances charges such as landscaping and gardening, pool maintenance, and similar expenses associated with the group of properties which constitute membership in the Association.
Memorial Day 2025
Weiss & Weiss remembers all those who made the ultimate sacrifice on behalf of our country, and wishes all a Happy Memorial Day 2025.
