Cozen O’Connor: Condominiums & Cooperatives

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Condominiums and cooperatives (condos/co-ops) constitute a unique facet of the real estate marketplace and require dedicated counsel. Cozen O’Connor is one of very few Am Law 100 firms with a full-service condo/co-op practice and a longstanding commitment to representing condo/co-op boards and homeowner associations as well as condo/co-op sponsors, developers, and investors.

Board Experience

Cozen O’Connor serves as outside general counsel to prominent condo/co-op boards and homeowner associations and provides practical guidance on a full range of regulatory and operational issues. We advise on corporate governance, transactions and contracts, budgeting and finance, and day-to-day management of hundreds of condo/co-op buildings.

The firm is well known as a thought leader in condo/co-op dispute resolution. Attorneys represent condo/co-op boards in disputes and litigation related to construction or conversion delays and defects, proxy contests, breaches of fiduciary duty, shareholder/unit owner violations, collections, and other issues. Notably, in a field typically rife with senseless posturing and table pounding, we are often able to identify creative win-win approaches and efficiently reach mutually agreeable solutions.

Sponsor/Investor Experience

We have deep experience forming condo/co-op structures, obtaining all necessary regulatory approvals, and working with architects and engineers to conceptualize a condominium regime that will produce maximum value. The team takes a unique approach to litigation avoidance and risk management, both in the context of initial offering documents and “second-look” peer reviews. Cozen O’Connor represents sponsor/developers of new or conversion condos/co-ops in Acquisitions & Dispositions, Land Use & Zoning, Real Estate Finance, and Construction.

The firm also represents sponsors/investors post-formation or serves as counsel to the sponsor-controlled board. Fostering positive working relationships and good communication among sponsors, boards, and residents is critical to limiting or avoiding litigation.

Services

Prepare and amend governing documents (proprietary leases, declarations, bylaws, rules, and regulations) and operational form documents and policies
Draft documents for and render advice at board and shareholder/unit owner meetings
Advise or arbitrate/litigate on budget and expenses
Negotiate access agreements; litigate through Article 881 proceedings, if necessary
Draft and negotiate contracts with contractors and vendors
Draft and negotiate retail and commercial leases, garage agreements, and licensing agreements
Advise clients on local, state, and federal compliance issues
Advise on labor, employment, and union issues
Serve as litigation counsel in real estate, commercial, employment, and construction litigation
Advise boards on insurance coverage and notification regarding actual and potential claims
Counsel on foreclosure and bankruptcy
Represent boards and sponsors before governmental and administrative agencies
Obtain New York State Office of the Attorney General approvals for new and conversion condominiums through both offering plan and no-action treatment
Negotiate loans and execute due diligence for sponsors and investors
Facilitate transition of boards from sponsor to unit-owner control
Help clients navigate emergent issues relating to extreme weather, infrastructure, and public health

Distinction

Our clients benefit enormously from working with a condo/co-op team embedded in an Am Law 100 firm with access to colleagues practicing not only in every area of real estate law, but other fields also core to the operation of condos/co-ops. These include Construction, Land Use & Zoning, Real Estate Finance, Leasing, Cozen O’Connor Public Strategies, Commercial Litigation, Labor & Employment, Insurance, Bankruptcy, and Private Client, Trusts and Estates.