Dennis Greenstein Quoted in New York Times
“Can a Co-op Have Two Sublet Policies?”

Dennis Greenstein was quoted in the Real Estate Q & A column of the September 2, 2007 issue of the New York Times. Dennis responded to a letter-writer who asked if it was legal for his co-op to have two separate sublet policies: one for shareholders who live in the building and sublet other units that they own and another for shareholders who sublet their apartments but do not live in the building.

Dennis responded that the Business Corporation Law, with limited exceptions, requires that “each share shall be equal to every other share of the same class,” so it would appear that having two separate subletting policies would violate that law.