Legal Advice for Developers in New York
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Having the right group supervising your development is an important step you don’t want to overlook.
Offering plans are vital to the success of your development so we stay on top of them.
Each closing adds to the success of your development, as does regular upkeep of each of the units.
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STEP 3: Your Development is Running Smoothly
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CO-OP | CONDO BOARD
- Appointing Board Members
- Amending Offering Plans
Drafting Development Documents
OFFERING PLAN | NEW DEVELOPMENT
Drafting Offering Plan
Government Filing
- Zoning / Environmental Testing
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Developers have been grateful for our expert service…
It’s truly been a pleasure to work with the team at Fisher Stone… They are easy to work with, informative, professional and I trust that they have my best interests at hand.“Informative”
Erica GotayExcellent service smooth process….definitely will be using them again to close on my next property“Smooth “
Naye BlackFrequently Asked Questions
If you’re unsure about which part of the development you would like help with, look through these frequently asked questions. If you still want guidance, you can schedule a free strategy session with one of our attorneys.
The sources and uses statement is the disclosure of who has sponsored the development and how their money is spent. These numbers must match so each sponsor can understand the flow of their money and can chart the development of the new property.
The governing board is charged with maintaining the complex, through regular upkeep/ maintenance and regulating the property within the guidelines of the association. The governing board can also motion to adjust the condo fees, with approval from the owners or renters.
Condo fees can also be called “maintenance fees” or “upkeep fees” and the fees are used for general upkeep, any maintenance done in the development, or upgrades to common areas. These fees can be charged at designated times, each complex differs. Fees can also be raised or lowered if the governing board and the owners agree.
An offering plan is the outline for all aspects of a development. The document is usually hundreds of pages detailing all the amenities, rules, and terms of the condominium and living as its tenant. Having an attorney eases the process of drafting regulations that benefit the development.
