1996 Dec/Jan
1996 Dec/Jan Vol. 16, No. 10
Focus on...Building-Wide Finacial Strategies
Protection Against Sponsor Default
When a conversion sponsor fails to meet his financial obligations, the result can be a default on the underlying mortgage, one of the most destructive catastrophes to strike a co-op. Even a default on the sponsor's maintenance obligations can put a co-op in dire straits. Although there is no ironclad method to protect a building from a sponsor default, a vigilant board of directors can look for early warning signs of a coming onslaught and take precautions accordingly.
Read MoreCharging Legal Sublet Fees
In a recent decision, New York's second highest court ruled that the Hotel Des Artistes coop-erative did not have the authority Read More
Containing Insurance Costs
Members of the insurance industry do not agree on much, but if they agree on one thing it's that Read More
New Lending Options for Co-ops
In the first cold day of the season, a group of res- idents and politicians stood in front of the Read More
