While many New Yorkers have navigated the process of applying and interviewing for - and eventually buying - a co-op or condo, securing a mortgage can be a complex, sometimes, lengthy process in which professional advice is recommended and…
In 1998, after receiving a "bill" for zero dollars and zero cents for the prior year's school taxes, some New York State property owners wrote checks to the government in that amount. They were convinced that a clerical error had been mad…
Sometimes a board has no choice about when to repair or replace some building feature or piece of equipment. If the boiler goes on the fritz in January, for example, it has to be fixed - period. Other projects, like interior design and ren…
A taxpayer normally recognizes gain or loss realized on the sale or exchange of property. However, pursuant to Section 1031 of the tax code, there is no recognition of gain or loss on the exchange of property for like-kind property. …
One hundred and fifty years ago, the New York State Legislature passed a bill designating land in the heart of Manhattan as a great central park. Today, the 843 acres that was saved from being swallowed up by developers is now treasured pu…
Many buildings have square footage hidden away that could be converted to residential use. Hallways, rooftops, unused garbage rooms, basement closets, abandoned water tank rooms - all are potential additions to an adjacent shareholder's ap…
It's not easy to be a smoker in New York City these days. It has become commonplace to see office workers in front of skyscrapers lighting up, or to hear announcements prohibiting smoking in theaters and other public venues. And now, under…
In today's low interest rate environment, refinancing is the top agenda item for many cooperatives. However, while the current interest rates would seem to guarantee a "win-win" situation, a savvy board must take into account more than ju…
I'm often asked what a person can do to keep their air conditioning unit working properly. AC units are complicated pieces of machinery, but there are many things a homeowner can do to keep their unit running and avoid making expensive ser…
In order to keep your air conditioning unit running efficiently, here are some tips to keep its maintenance in tip-top shape. "¢ Do clean your AC unit often. "¢ Do keep the unit slightly pitched to the outside of your window or b…