The Hard Truth About a Condo Board’s Right of First Refusal (NY)

Victor Efremenkov, a unit-owner and member of the condo board at the 262 North 9th Street Condominium in Brooklyn, listed his apartment for $949,000. He then entered into a contract to sell the apartment to Ronen Segev for $850,000. The condo board regarded the sale price as too low, and it exercised its right of first refusal, moving to buy the apartment for the agreed-upon price of $850,000. Segev sued.  Read the article………………………

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