Skip to Content

Delays in selling units could have dire legal consequences on a condominium’s sponsor, New York Real Estate Journal

Posted Aug 21, 2012

By Andrew L. Richards
(August 21, 2012)

Sponsors of condominiums often have difficulties selling units quickly of new condominiums in times of economic malaise, such as the present. In addition to the financial hit caused by not being able to sell units, the longer a sponsor retains ownership of units, its potential exposure for design and/or construction defects in the building rises significantly. In fact, depending on the length of time in which it takes the sponsor to sell the last unit, its ability to hold its design professionals and/or contractors responsible for design and/or construction defects could be compromised or entirely vanquished.

Read more at the full article.

Our Firm's Awards & Honors

No aspect of the advertisement has been approved by the Supreme Court. Learn more about the selection methodology of awards and honors.

Mansfield Rule Certified 2023 Super Lawyers Best Law Firms 2025 Best Law Firms 2025 Martindale Hubbel AV Preeminent Law 360