One of the largest single building housing complexes ever constructed became the largest ever condominium conversion plan ever attempted in the United States of America. The billion dollar conversion affected the lives of hundreds of residents of the Manhattan House in numerous ways.
Although the Manhattan House conversion was anything but typical, it did include many typical elements of ordinary conversions:
– Rearrangement of building facilities
– Inducements to current residents to make their homes elsewhere
– Disruptions of building services
– Failure to abide by the New York law’s various construction protocols
– Failure to make repairs in units and throughout the building
Through using an arsenal of engineering studies, drafting a lawsuit, courtroom proceedings, and large and small scale meetings with various constituencies and with the Condominium Sponsor, Adam Leitman Bailey, P.C. put together a comprehensive and innovative global settlement.
Aspects of this settlement included:
– Abated rents for all of the homeowner association’s residential tenants totaling hundreds of thousands of dollars in fees for the tenants
– Agreement on new protocols to be followed by construction workers
– Agreement to provide insurance and monies for all tenants forced to temporarily move from their apartments
– Access to condominium’s gym and spa
– Rights to bring and house pets in the building as well as numerous other concessions