TYAToMLG / the power (or wisdom) of a coop board rejecting a buyer because of price
Two Years Ago Today on Manhattan Loft Guy
About the legal authority of a coop board to reject a purchase to ‘protect’ shareholders, and whether that makes any sense: power of a coop board to reject a deal as "too low"??
There’s a difference of legal opinion (surprise!) but my opinion is simple (dumb!)..
© Sandy Mattingly 2011
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About the guy at Manhattan Loft Guy
Sandy Mattingly has been Manhattan Loft Guy since March 2006. The Guy thinks out loud in real time on The Blog about the loft niche in the Manhattan residential real estate market, often via a post about a specific loft that recently sold, how the transaction fits into market trends, what is interesting (weird!) about the loft, and how that sale fits into past sales in the building. Perhaps the most unusual resource is unique to Manhattan Loft Guy: a Master List of downtown Manhattan lofts that have sold since November 2008 from $500,000 to $5,000,000. Now a Licensed Associate RE Broker with The Corcoran Group (as “Charles M. Mattingly” at 524 Broadway, NY, NY 10012), the content, opinions, errors (real-time blogging is sometimes not pretty), and snark are all his (scroll down for the disclaimer).
Of course, The Guy’s day job is helping buyers and sellers one-to-one and he can be reached most easily at Sandy.Mattingly@corcoran.com, Sandy@ManhattanLoftGuy.com or 917.902.2491, and followed on Twitter and FaceBook (see buttons, coming, above). In real life, he’s bought and lived in lofts in developing Manhattan residential areas going back to “Tribeca” in 1981 (back in the day, indeed) and believes in service. He’s been on the board and head of the parents association of one of the largest NYC private schools, chair of the pastoral council of his Chelsea parish, and lay trustee of that parish; currently he sits on the board of a 501(c)(3) social outreach mission, serves on the alumni council of his alma mater, and is proud to be a kidney donor (you can’t take it with you: see donation information here).
The Corcoran Disclaimer: “Equal Housing Opportunity. This website is not the official website of The Corcoran Group or its affiliated companies, and neither The Corcoran Group nor its affiliated companies in any way warrant the accuracy of any information contained herein. Any property or services offered for sale on this website shall not be considered an offer to sell such goods or services in any state other New York.”
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