2002 Dec/Jan
2002 Dec/Jan Vol. 22, No. 1
Focus on...Financial Strategies
Worth Coming Home To
Many co-op and condo-dwellers have been looking inward of late, concentrating their energy and income on making improvements to their buildings and personal spaces, rather than spending money on travel, entertainment, and other more extroverted luxuries. Boards are, of course, interested in attracting and keeping good shareholders and owners, while those shareholders and owners are interested in making their home more comfortable, convenient, and aesthetically pleasing. Read More
Phoenix and the Ashes
The implications of the attacks of September 11 are far-reaching, with tentacles stretching around the world. But what about right next door? An entire section of Manhattan has been forever altered, as have the lives of all the people who call TriBeCa, Battery Park City and the Financial District home. What will become of these residents? After all that has happened, will people still want to live here? And how will that affect the real estate market, both in Lower Manhattan and elsewhere in the city? Read More
The Sixth Borough
Hoboken is a city of about one square mile sandwiched between the Holland and Lincoln Tunnels. Once the butt of urban renewal jokes ("Hey, if it’s Hoboken, don’t fix it!"), the city has enjoyed a renaissance in the last quarter century as its proximity to Manhattan’s Financial District has attracted more affluent tenants, pumping money into the local economy and reviving what was once a depressed town. Read More
Preparing for the Unthiinkable
Since 9/11, terrorism has become a palpable new threat against the lives and property of American citizens. Not only has our peace of mind been compromised, but the attack on the WTC has affected lives in other, less obvious ways. Read More
Plan A or Plan B?
By their nature, co-ops and condos are about ownership, common interests and camaraderie. They are also predicated upon the sharing of costs–both of the day-to-day maintenance of the property, as well as periodic capital expenditures. As with any other home, at some point in time there will be a need for major repairs and replacements. Read More
Show Me the Money
The prevailing economic climate has given rise to concerns for us all, especially co-op and condo boards currently in the process of budget preparation. The natural course of action would seem to be to review past budget-related decisions and apply them to present-time decision-making. But what happens when the premises of previous decisions are no longer valid? In light of recent events, what budget-related issues must boards grapple with that they may never have had to consider before? Read More
Your Building's Reserve Fund
As the future of the economy remains questionable, the matter of your building’s finances begs the question: Should your co-op or condo board reexamine how you invest your reserve fund? No doubt, this has already crossed your mind, but even if it hasn’t, perhaps now is a good time to reassess your reserve fund investment strategies. Read More
