2006 May
2006 May Vol. 26, No. 5
Focus on...Design
There's No I in team
As the old saying goes, great minds think alike. That’s certainly the hope when designers and design committees join forces to tackle the aesthetic issues faced by co-op and condo buildings throughout New York. Whether it’s a lobby redecoration, a common area renovation, or the creation of an entirely new decorative space, the designers and committees are often called upon to make decisions on a scale that will impact each and every building resident. Trying to reach consensus on those decisions takes skill, tact and a shared desire to reach the common goal of a good design. Read More
Prewar and Postwar
When visitors to New York, or even some residents, are asked about landmark, historic or architecturally striking buildings here, they’ll probably mention the Empire State Building, the Chrysler Building, the Woolworth Tower, Grand Central Station, the Guggenheim Museum, the Flatiron Building, and maybe the Museums of Modern Art and Natural History and the United Nations. Read More
Wood You Rather
In any home or apartment, urban or suburban, woodwork plays an important role in construction, but in areas such as doors, floors, cabinets and decorative elements. With plenty of synthetic alternatives and wood veneers available to do-it-yourselfers and decorating professionals, having solid, often ornate wood elements in your building or apartment is considered a luxury nowadays, as many boards and supers opt for cheaper solutions to fix deteriorating wood, rather than using the real McCoy. Read More
Getting Serious About Curb Appeal
Many boards and managers make extravagant efforts to spruce-up the frontages of their buildings with costly landscaping, graffiti removal, and entrance renovations — but it’s an uphill battle. As many a harried manager or put-out shareholder will tell you, there are plenty of co-op and condo buildings in the city that always seem to be stuck looking tawdry and down-at-heel because of the proliferation of sidewalk clutter. Read More
Within Striking Distance
It took a rally, a march up Park Avenue, and some heated late-night negotiation sessions, but on April 21, 2006, the Service Employees International Union (SEIU) Local 32BJ and the Realty Advisory Board (RAB) were able to compromise on the terms of a new contract for the city’s supers, porters, doormen, and other building workers. The agreement was tentative, and involved concessions and compromise on both sides of the table, but it also headed off a strike that many in the city thought was inevitable. Read More
Maximizing the Market
Energy is a singularly important and pressing issue. Even so, addressing this issue has not yet risen to the top of the list for many apartment managers and co-op boards. For large-scale apartment managers, the mandate to limit exposure to energy cost risk may be the only way that this vital issue is even starting to assume the characteristics of “critical mass.” Beyond limiting risk, few realize that most buildings themselves are untapped sources of potential energy-based revenues. Read More
A Diamond in the Rough
Often given short-shrift in media coverage of the New York City real estate game, Staten Island is a historically rich borough which—contrary to what your Manhattan-centric friends may try to tell you—is not a four hour trek away. The fifth borough’s character-filled neighborhoods can be a welcome contrast to the constant activity—and expense—of Manhattan. Read More
In the Know
New York State has a number of laws to protect consumers—there’s a law designed to protect people who invest in a car and end up with a lemon, for example. If a car has been in a serious accident, the seller has to disclose that information to any potential buyer. Buying a home is an even bigger commitment than buying a car, so you’d think the state must have some pretty strict disclosure requirements in regards to the buying and selling of condos and co-ops. But it doesn’t. Read More
Artistic Investments
New York City is home to some of the most spectacular living spaces in the world. At the end of the day however, even the most luxurious, most exclusive co-op and condo buildings are simply places to live. Yes, they may have stunning architecture and amazingly beautiful hallways and lobby spaces, but for all the opulence and finery, these spaces are mostly for people to move through on their way somewhere else. They are not necessarily decorated or intended to be lingering places. Read More
Exotic Exploration
New York City is known for having some of the most impressive architecture in the world, and many of its buildings—whether considered landmarks or just those that people call home—incorporate a vast array of building materials into both their facades and interiors. Read More
Designing Reality
Just a decade ago, the average person didn’t have much of an idea about the ins and outs of interior design. Thanks to the recent—and rapid—proliferation of cable television and the phenomenal success of reality TV however, that has changed. Today, a host of programming appeals to all tastes and budgets, from HGTV’s modest “Design on a Dime” to the over-the-top, spare-no-expense grandeur of ABC’s “Extreme Makeover: Home Edition.” Read More
Q&A: Board Member Indemnification
Our board president was given a violation for doing electrical work without a permit and blamed the superintendent for reporting the work to the New York City Electrical Board. She asked the board for the reimbursement for the cost of the permit. The board voted on the issue and paid her using corporate funds. Even though the board president abstained, is this a violation of section 719 of the Business Corporation Law? If so, how should this violation be brought up to the shareholders, and what can be done? Read More
Q&A:The Board's Right to Choose Counsel
Our co-op board has been sued by a shareholder. We’ve notified our directors and officers (D&O) liability carrier of the lawsuit, and our carrier has in turn appointed a defense counsel to defend us against the lawsuit. Do we as a board have to accept our carrier’s choice of counsel, or can we request different counsel? Read More
Q&A: Heat Conversion
Our building (which is comprised of 17 one-bedroom units) is heated by a hot water gas boiler with baseboard radiators. The radiators are NOT individually controlled. The building is about 30 years old, and the boiler will soon need replacement. We are exploring the possibility of converting to electric heat by installing the heating/cooling units used in new high rise buildings. Read More
