1995 Jul/Aug
1995 Jul/Aug Vol. 15, No. 6
Focus on...Budget, Finance & Insurance
From Horror to Harmony
Neil Goldstein flashes a look of genuine surprise when a resident kisses him hello on the cheek in the lobby of The Harmony, an Upper East Side co-op where he is board president. Other residents trot by with friendly waves and call out, How are you doing, Neil? A couple seated on the lobby couch look over floorplans, obviously waiting for a broker to show them an apartment. An elevator opens to discharge a small child who totters toward the doormen, who know the kid by name. Clearly touched by the environment, Goldstein rubs the spot on his cheek and breaks into a satisfied smile.
Read MoreCan This Co-op Be Saved?
The collapse of the New York real estate market in the late 1980s left dozens, if not hundreds, of co-ops unable to pay or refinance their mortgages. Many sponsors managed to have their plans declared effective with only 15 percent of the units soldthe minimum required by law and then watched the co-op market disintegrate. Unable to meet the maintenance payments on the units they still held, sponsors defaulted or went bankrupt, leaving the co-op corporation with occupied units on which the rents didn't cover the maintenance. Read More
Property Tax Reform
The City Council has made protection of homeownersincluding co-op and condo Read More
Risk Purchasing Groups
In August 1986, a Time magazine cover proclaimed America, Your Insurance Has Been Read More
A Vigorous Fraud Prevention Program
Jonny J. Frank is managing director of Decision Strategies International, an investigative consulting firm that specializes in consulting with corporations on internal fraud prevention and investigation. His firm recently added the metropolitan real estate management industry to its cadre of business sectors served when, in the wake of the scandal, several management firms engaged the company to institute internal monitoring procedures. Here's what Frank recommends to boards: Read More
Financial Checks and Balances
Is a co-op or condo owner, protecting your building's financial stability is of paramount importance in Read More
Buying an Apartment the '90s Way
The electronic age has reached the New York real estate market, bringing new ways of buying and selling Read More
How Safe is Your Water?
It comes roaring down from the Catskill Mountains, from the pristine hills of Delaware County and from the open spaces of Read More
