The Real Deal New York

As the New York City condo boom matures, no one wants to be left holding the bag. In a departure from practice in recent years, according to one New York City real estate attorney, the major brokerages are unwilling to function as listing brokers on new projects, a change in the way some commission agreements are handled that may have repercussions throughout the New York City new development community. The change has to do with co-brokerage and may in part stem from a 2005 lawsuit, Fischer v. RWSP Realty, which basically indemnified property sellers.