2007 Apr
2007 Apr Vol. 27, No. 4
Focus on...Real Estate Market/Expo
Essential Qualities
Whether you're buying or selling a condo or co-op, the goal is to engage a real estate broker who will get you the best price or the best apartment in the shortest period of time. Unless you already work in the real estate industry, you likely will not have an ongoing relationship with an individual broker. When engaging a broker—either as a buyer or a seller—there are 10 essential qualities to look for when seeking a superior broker. Read More
The Battle for Brooklyn
East of the busy intersection of Atlantic and Flatbush Avenues in Downtown Brooklyn, where the Long Island Rail Road and almost 10 subway lines intersect, one finds, in the shadow of the landmark Williamsburgh Savings Bank building, the Vanderbilt Rail Yard. At this rather unattractive open-air facility, trains that terminate at the LIRR's Brooklyn terminal rest between rush hours are cleaned and serviced. Read More
Domestic Terrorists
New York City and its surrounding boroughs have always been known for its robust population of vermin—rats and cockroaches have been part and parcel of city life ever since the Dutch settled here and founded New Amsterdam. While roach and rat populations have been largely controlled in the last few decades thanks to advances in insecticides, poison baits, and traps, another, perhaps even ickier pest critter has risen to take headlines and haunt city dwellers: the bed bug. According to the National Pest Management Association, complaints of bed bug infestation increased by 71 percent between 2000 and 2005, and the city's exterminators are reporting record numbers of calls about the problem. Read More
Back to the Future
An old adage of the real estate game speaks of the importance of "location, location, location," meaning that value goes up (or down) depending on where a property for sale is located. The hot 'location' in New York is constantly moving. Also moving is the overall real estate landscape of a shifting economy and the changing needs of new demographics. Read More
The Sky's the Limit
While the real estate market across the country has cooled in general, it's still going strong in New York. The New York City market has always stood apart from the rest of the country, for reasons that everybody here practically knows by heart: limited space, high demand, lots of people with lots of money, and highly desirable, one-of-a-kind properties. Whether buyers hope to reside in historic buildings or state-of-the art modern architecture, New York's real estate market without question offers some of the most sought-after properties in the world. Read More
Apartments Sell—But Who's Buying?
Thirty-eight of the 400 individuals on Forbes magazine's list of the richest Americans—almost ten percent—call New York City home. All thirty-eight are billionaires. Some of them, like Ralph Lauren and Donald Trump, are household names. Two of them are Rockefellers. One of them, Michael R. Bloomberg, is the mayor. Read More
Working Toward Common Goals
Nothing worth doing is ever easy. That rule of thumb certainly applies when it comes to the creation of co-ops and condos. Whether constructing a new building or converting an existing one, it can be a tricky business. The person or group establishing the co-op or condo must solve a whole flurry of issues before the first resident ever sets foot in the building. His or her partners in this adventure—those brave souls who sign on to be the building's first board members—have their own interests in mind as well, working together to try and create a place that they can call home. Read More
The Cooperator's Co-op & Condo Expo
As the trees start greening and the last dregs of winter ice and slush melt away, it's once more time to turn our collective attention to The Cooperator's annual Co-op & Condo Expo—to be held this year on Wednesday, April 25th on three floors of the Hilton New York. Read More
Getting Along and Going Along
Sometimes being on the board of a co-op or condo is
like being a politician. Fellow residents look to you to solve problems.
They can vote for you, or they can choose not to vote for you if you do
something they dislike. You feel like you're always in the spotlight
and sometimes you feel that even your best may not be enough. Read More
Same Time Next Year
Every year, the shareholders of co-op apartments gather
together—in their building's community room, or even in the
basement in the shadow of the laundry machines, on flimsy chairs that are
only used once a year—to discuss their mutual investment. The
board is there, and the managing agent, and the accountant. Many of
the neighbors materialize, but not that nice couple next door, because they
rent. If the stars are in perfect alignment, the phantom
sponsor—the guy who owns half the shares in the building but who
you've never seen—will make an appearance (although usually he
sends a proxy). The board president bangs on the table with her
gavel—a stapler, actually—and calls for order… Read More
