2006 Oct
2006 Oct Vol. 26, No. 10
Focus on...Board Operations
I Got Rights!
In many ways, a co-op or condo building is a lot like a tiny democratic nation. Like an independent state, a building elects its leaders, and those leaders have certain responsibilities to the people who elected them. Each “citizen” of the building has a vested interest in the continuing prosperity and harmony of their community—and each has a right to know how their elected directors are making decisions and running the building’s business affairs. Read More
Royal Treatment
Manhattan’s Upper West Side is a repository of striking architecture—it seems like every block features a different, breathtaking example of residential construction. One of these is the Park Royal, located on 73rd Street between Columbus Avenue and Central Park West. A co-op since 1985, the building has twice been named one of the top ten most desirable co-ops in the city. Read More
Building Community and Value
One visit to Great Neck and it’s not hard to figure out why it’s become such a desirable neighborhood to live in. The first Nassau County town you reach driving east out of New York City, Great Neck offers scenic waterfront views, proximity to Manhattan (about 25 minutes on the Long Island Rail Road), parks and shopping. Read More
No Sale Ever Final
Whether you’re part of a giant co-op the size of Co-op City, a 21-story building with over 15,000 residential units, or a small 25-unit condo in Staten Island, whether your building is self-managed or uses a management company, your board will at some time have to make decisions on how to deal with vendors. Read More
Need Answers?
Your roof terrace leaked and the neighbor below you sued for damages. Do you have any recourse? The heating system in your apartment failed to work and the managing agent sent you the bill for its repair. Do you have to pay? Read More
Forest Hills
Some call it the Garden City. Others call it the heart and soul of Queens. About 4,500 people call it home, but one thing’s for sure—just about everyone who has seen Forest Hills calls it beautiful. Read More
Ruling the Roost
No Sale Ever Final
Whether you’re part of a giant co-op the size of Co-op City, a 21-story building with over 15,000 residential units, or a small 25-unit condo in Staten Island, whether your building is self-managed or uses a management company, your board will at some time have to make decisions on how to deal with vendors. Read More
Getting Good Help
Attracting new members to join your board of directors may be a daunting task. As current board members, you know that occasionally you need new members to keep the business of your co-op running smoothly—but people are often reluctant to join a group they may not really know much about. Even more challenging, they might be convinced that serving on the board will be too difficult, too time-consuming, or will make them the targets of potential lawsuits if there’s a problem in the building. Read More
It's Good to Be the President
It’s not a thankless job, necessarily—every once in a while residents will express their gratitude, if the elevator ride is sufficiently awkward—but it is a moneyless one. It’s also a hefty part-time job at best, and can at times take upwards of 20 hours a week to do. And forget about taking a vacation. Read More
Following the Money
Fall is here and with it comes the season for watching football. Football seems to dominate American culture. There are pro games four days a week, pre-season, post-season and Pro Bowl games, college, indoor, fantasy football, and of course the definitive game of the year—the Super Bowl. Read More
Running the Gauntlet
Talk about tense situations. There’s the sweaty-palm inducing job interview or the anxiety-riddled prospect of getting down on one knee to propose. And who can forget those tense moments scratching out an answer on the SAT test, knowing your future hangs on the difference between answer A and B. Those moments, however, are all child’s play when it comes to the pinnacle of the high-pressure situation: applying to live in a New York City co-op. Read More
Q&A: Surpassing the Shareholders?
Several others and I are shareholders in a co-op on the East Side of Manhattan. Our board and management company are putting through Local Law 11 repairs. This is not a problem. However, they have refused for any of the shareholders to see the architect’s plans and have refused to get more than one bid. At a recent informational meeting we were told what was going to happen without having given our input. On top of that the management company is charging a hefty fee for this and we have not been allowed to see the contracts that authorize the project. Read More
Q&A: A Receipt for Maintenance
Do we, as a co-op collecting maintenance, need to comply with a shareholder’s written request, pursuant to RPL: Article 7 Section 235-e for written receipts for maintenance paid by personal check? Does this section even apply to maintenance? Would the same be true for assessments? Read More
Q&A: Lethal Airborne Waste?
I live in a large co-op on the Upper East Side which consists of 300 units. Six residents on the second floor, including myself, have terraces. Over the years large quantities of various items have come out of the windows above us and have landed on our exterior property, such as cigarette butts—some still burning, glass bottles, burning paper towels, clothing, burnt popcorn, and various personal hygiene products. Falling lit cigarettes have burned holes in awnings, umbrellas, and plants and burning paper towels have burned cushions. The fact that these items are coming out of the windows is unsanitary and dangerous. Our managing agent circulated a letter throughout the building but it hasn’t really stopped things from being deposited on our property. A security camera was focused on one particular apartment out of which previous items had been thrown, but the camera—part of a rotating security system—only catches seconds of footage here and there and does not consistently record one location for an extended period of time. Unless someone is caught in the act at that particular second, we still have no record of it happening. Read More
Q&A: Closing Question
I have an accepted offer on a condo in Manhattan, and I have a letter of commitment from my lender. Before proceeding to submit my application to the board, I was instructed by the managing agency that submission of tax returns, payroll stubs, and bank statements are necessary to process the application, in addition to the credit check. Read More
Q&A: One Good Reason
When an applicant applies to buy into a co-op and pays the high application fee, yet is denied by the board, shouldn’t they be given a reason why they were rejected? I feel strongly that the board is wrong in turning someone away without so much as an explanation, especially after accepting the non-refundable application fee, which is often in excess of $700 and holding the prospective buyer up with all the documentation required before even meeting him or her. Is the no-reason-given policy written into law, or just standard board practice? Read More
Q&A: Use of the STAR Abatement
Our co-op owners were just notified that the board has decided to appropriate the New York state School Tax Relief (STAR) tax abatement due to us for 2001/2002 and 2002/2003 as an assessment to do work on the building. Is this legal? We are also getting a maintenance increase as of April 1st. Read More
