Maryanne McCabe lived with her long-time romantic partner, David Burrows, in a New York City cooperative building. Upon Burrows’ death, he bequeathed his unit to McCabe. She sought to acquire his lease and shares under a lease provision allowing automatic transfer to a shareholder's “spouse.” McCabe did not provide a marriage license or evidence demonstrating that she was a family member, the Board of the Co-Op invited her to apply in the same manner as a prospective purchaser. When Mc...
Tags:Article 78 Proceeding, co-ops, cooperative building, discrimination, marriage, New York City Human Rights Law, romantic partner
Traditionally, it was a common practice for sellers to pay commissions for both their agents and their buyers’ agents. The traditional was a shared commission model, up until the changes resulting from an antitrust litigation, commissions payable to real estate agents in the purchase and sale of property (generally between 5% and 6%) were paid by the seller and split between the seller’s agent and the buyer’s agent, and that amount came from the sales proceeds paid to the seller.1 Under t...
According to a report on May 22, 2025, by the New York State Association of Realtors (NYSAR), housing inventory rose slightly across New York for the first time in more than a year, while new listings grew nearly 10 percent in March, fueling optimism for a more active spring housing market. Despite a slight uptick in housing inventory and continued mortgage rates below seven percent, existing home sales in New York State declined in April.1 Closed sales of homes fell 6.2 percent in April, from...
Tags:closed sales, housing price, inventory, market trend, mortgage rate, new listings, New York, New York State Association of Realtors, Price
