Sherman Quoted in Habitat Magazine on Holiday Bonuses for Building Staff
Pryor Cashman Partner Eric D. Sherman was quoted in a recent Habitat magazine article entitled “The Onus of the Holiday Bonus.”
The piece examines the tradition of co-op and condo boards distributing year-end bonuses to building staff, and discusses whether shareholders and unit owners have the right to review the building’s books to determine how much money was paid out in bonuses.
According to Sherman, boards typically are not required to reveal to shareholders their methodology for determining bonuses. Shareholders do, however, have a right to inspect the books and records of the building, and staff bonuses would fall into this category.
To view the full Habitat article, please click here.
More About Sherman’s Practice
Eric D. Sherman maintains a nationally-recognized real estate litigation practice, where he represents clients in both commercial and residential matters. For the last three years, he has been named to the Super Lawyers “Top 100” list for his exceptional work in this area.
Sherman is a frequent contributor to The New York Times and numerous other publications on topics related to real estate and litigation.
To learn more about his practice, please visit here.
