2000 Nov
2000 Nov Vol. 20, No. 11
Focus on...Interacting With Professioanals
The Argo Corporation
The Argo Corporation began its operations in 1951, when Henry Moskowitz, father of the firm’s current president and chief executive officer Mark, began purchasing properties on the Upper West Side by forming syndications with other real estate partners. The initial buildings were all rentals; Argo was hired by the partnerships to manage them. "Over time, the buildings were converted to cooperative ownership by Argo," says the younger Moskowitz, "and this was the pattern of the company through the 1960s and 1970s, and the way that Argo strengthened its management business and position in the industry." Read More
In the Know
Call a real estate consultant a "know-it-all" and he or she will probably just smile wisely. For a consultant, that term is far from insulting. It’s simply a statement of fact. Read More
Is it Really a Trend?
From the outside, it’s impossible to tell a co-op from a condo–there’s no physical difference between the two. However, as more and more are considering the concept of co-op to condo conversion, real questions about its possible benefits and downsides–indeed the overall feasibility of such an undertaking–arise, starkly pointing out the differences between the two forms of ownership. And as it turns out, more and more experts purport the benefits of condo ownership. Read More
Hot Enough For You?
The following is the text of a speech Adrienne Albert, president of Manhattan real estate brokerage firm The Marketing Directors, gave at the monthly luncheon meeting of Associated Builders and Owners this past September. Read More
'Tis the Season
You don’t need a calendar to know that the holiday season is almost upon us–just look around: from elaborate window displays in department stores to the subtle decorations like wreaths and lights, it’s hard to ignore the various decorations this time of year. But perhaps your co-op or condo board is still contemplating how to convey the spirit of the season within your building. From simple to elaborate, co-ops and condos can feature an array of decorating ideas. What’s right for your building depends on several factors including size, budget and whom you pick to decorate. Read More
Keep an Eye Out
It’s happened twice recently. In the summer of 1994, 72 New York property managers were convicted of taking kickbacks from contractors and extorting payoffs. This resulted in a $4 million restitution fund. Then, just last summer, 21 corporations and 62 individuals, including managing agents, superintendents, vendors, contractors, architects, and even board members, were indicted for bid-rigging (coordinating false bids so that the "lowest bid" was inflated) and other fraudulent practices. Just what can boards do to protect their buildings in the face of such widespread fraudulent activity? Read More
True Stories of Fraud
You are about to read tales of greed and corruption, costly incompetence and outright thievery. There is even a little sex and gambling thrown into the mix. Stories from television soap operas? No, these are the days of our lives in the New York City real estate industry, where a series of indictments leveled at property managers, contractors and vendors last summer have rocked the professional community again. And for every name that you may have read in the papers, several more are under investigation. This is what it sometimes looks like when your hired hands have their fingers in the till. Read More
