Ask Real Estate: When a Co-op Neighbor Breaks the Law

April 25, 2015 – Media Mention
The New York Times

Douglas Heller answered a question for the weekly "Ask Real Estate" column in The New York Times that solicits real estate questions from readers across the New York region. Douglas explained how co-ops boards can sell shares corresponding to portions of utility closets, stairwell landings and hallways without shareholder approval for those transactions, and in many cases the board is not required to pay taxes on the funds received for the sale of the shares. "This can be a particularly good deal for the co-op," Douglas said.