CO-OP
SHAREHOLDER
ENTITLED
TO
ALL
SHAREHOLDERS’ NAMES AND ADDRESSES, TO
REVIEW BOARD MEETING MINUTES, AND TO REVIEW
CORPORATE BOOKS AND RECORDS
In Re Goldstein v. Acropolis Gardens Realty Corp. Appellate
Division, 2nd Department
COMMENT | While a shareholder’s entitlement to names
and addresses is nothing new, the order for access to Board
minutes and books and records was expansive.
CONDO BOARD CANNOT SUE SPONSOR’S ARCHITECT
OR ENGINEER OVER CONSTRUCTION DEFECTS
Board of Managers of The Sevenberry Condominium v. N7B
LLC Supreme Court, Kings County
COMMENT | The Court held that there was no privity of
contract between the condo and these professionals, the
condo was not a third-party beneficiary of the agreements
between the sponsor and these professionals, and the condo’s
claims were pre-empted by the Martin Act. The condo had
previously reached a settlement with the sponsor.
CONDO LIEN VALID DESPITE UNIT OWNER’S CHALLENGE
TO MANNER OF VERIFICATION/NOTARIZATION
Board of Managers of 34-44 82nd Street Condominium v.
Roman Appellate Division, 2nd Department
CONDO BOARD CAN SUE SPONSOR AND PRINCIPALS
FOR BREACH OF CONTRACT AND FALSE ADVERTISING,
OVER CONSTRUCTION DEFECTS
Board of Managers of 550 Grand Street Condominium v.
Schlegel LLC Supreme Court, Kings County
COMMENT | Although these two claims survived dismissal,
most claims against the sponsor and its principals were
dismissed; all claims against the sponsor’s architect were
dismissed. The Court held that the sponsor’s principals could
be sued based on the certification they signed as part of the
offering. As can be seen from other decisions reported above,
this decision contrasts somewhat with the prevailing body of
law on this subject.
7