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Condo Conversion: Three Issues for Owners and Lawyers to Consider
November 12, 2003 Full PDF
The November 12 New York Law Journal's "Real Estate Update" section features an article by Peter Fisch and Harris Freidus entitled "Condo Conversion: Three Issues for Owners and Lawyers to Consider." The article discusses the increasing popularity of commercial condominium conversions in real estate transactions, making ownership viable and accessible to a broader audience. While there are many issues to be considered in documenting commercial condominium ownership, Peter and Harris point out that cost allocations, voting rights, and documentation of use restrictions are the three most significant. They advise that documentation of these issues is essential and should be considered at the outset, as a condominium declaration must remain viable for the life of the condo. Steven Neuman also assisted in preparation of the article.