Legal Talk for Co-ops and Condos
Legal Talk for Co-ops and Condos
Legal Talk by Habitat Magazine
From Empty Storefront to Steady Income
18 minutes Posted Oct 20, 2025 at 5:00 pm.
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Send us a text When a co-op or condo loses a commercial tenant, a cash crunch often follows. Finding a new tenant is just the beginning — the real challenge is structuring a lease that protects the building’s finances and residents. Mark Axinn, partner at Phillips Nizer, explains how to think like a professional landlord while recognizing your unique constraints. Key elements are managing rent concessions, handling broker commissions, and funding upfront renovation costs when building reserve...