August 2010 Vol.30, No. 8
The August 2010 issue of The Cooperator newspaper focuses on Insurance & Board Training
In this issue, you can read about building flood zones, mold damage, proper fit insurance.
Visit our archives to see other articles that were published in 2010.
News Briefs
- 09.02.10 In June, condo prices declined 2.7% to an average of $989.99 per square foot compared with the year-earlier month, according to Radar Logic's RPX Index. Despite the decline, average prices are still 6% higher than a year earlier. [Wall St. Journal]
- 08.31.10 A partnership that is one of New York's largest apartment owners is seeking to convert more than 1,000 rental units in 36 financially distressed Upper West Side buildings into condominiums. [Wall St. Journal]
- 08.24.10 A coalition of community groups and co-op boards will release a plan Tuesday seeking to curb high-rise development in Chinatown and the Lower East Side.en Driggs Avenue and Roebling Street, is available for occupancy. [Wall St. Journal]
- 08.16.10 The Bedford, a five-floor, nine-unit condominium at 205 North 8th Street, between Driggs Avenue and Roebling Street, is available for occupancy. [The Real Deal]
- 08.14.10 Intended to spur low-to-moderate-income home ownership, relaxed regulations by the FHA have helped buildings in Tribeca, Midtown, Battery Park and on the Upper East and West sides. [NY Post]
- 08.12.10 A decades-old federal law initially intended to reduce fraud in sales of Florida swampland was applied for the first time to help dissatisfied buyers of Manhattan condominiums. [Wall Street Journal]
- 08.12.10 Developer Cord Meyer met with members of the West Side Tennis Club and representatives of Forest Hills Gardens Tuesday night to unveil its controversial plans for converting the Queens site of the historic 2.5-acre tennis stadium into 75 luxury condominiums. [Crain's NY Business]
- 08.11.10 William Lie Zeckendorf and his brother, Arthur, along with their partner, have brought back "starchitect" Robert A.M. Stern to design a luxurious condo for the former Salvation Army Bldg. at 18 Gramercy Park South, aka E. 20th Street. [NY Post]
- 08.11.10 A federal court in New York ruled late Tuesday that three purchasers can back out of their contracts and get their deposit back on units at a Financial District condo conversion developed by Lev Leviev of Africa Israel [Crain's NY Business]
- 08.06.10 The 41-story, 303-unit building located on Gold St., just off Flatbush leading into the Brooklyn Bridge, is 60 percent sold, receiving a very healthy sales increase after Rose Associates took over marketing the building. [NY Daily News]
- 08.03.10 The West Side Tennis Club in Queens has proposed that a developer with deep local roots transform its famous but aging tennis stadium into luxury condos. [The Wall Street Journal]
Featured Articles
New York is an Island
Time was when the average New Yorker didn’t think much about floods. Sure, there were severe storms here, such as the
infamous Hurricane of 1938 that hit Long Island and the Great Nor’easter of 1992, but these were few and far between.
Read More
Insuring for Household Hazards
Mold—it’s an ugly four-letter word in more ways than one. Nobody wants to think about
the fact that this fungus can be found anywhere where water leaks or drainage
problems are present. Mold can cause serious damage to a co-op or condominium,
like ruining drywall, and is believed to trigger numerous health problems in
susceptible persons.
Read More
What's in a Name?
Recently, a 36-year-old New York City restoration contractor was charged with
multiple counts of workers’ compensation fraud and falsifying business records. He was hired as a
sub-contractor, but he allegedly submitted three fraudulent certificates of
insurance. In another case, a Suffolk County roofer allegedly passed phony
certificates of workers’ compensation coverage as he took work at job sites around the county. Read More
The Proper Fit in Insurance
For any co-op or condo in New York, there are certain types of insurance that
they cannot live without. Generally those include: property, liability,
umbrella, D&O (with employment practices liability (EPL) insurance embedded in the
coverage), fidelity, equipment breakdown coverage or more commonly called
boiler and machinery (B&M), workers compensation, disability coverage, and when applicable,
environmental coverage.
Read More
