To many people outside New York City, the very word ‘condo’ conjures up an image of an ultra-modern apartment located in a high-rise building with dramatic views. But that’s for the movies. First of all, condos, like any other type of apart…
For co-ops Manhattan, Brooklyn, and Queens, it was a good third quarter 2017 when it came to average sales prices. The Real Estate Board of New York (REBNY) recently released its latest New York City Residential Sales Report for 3Q 2017 …
Westchester’s Building & Realty Institute (BRI) and its Cooperative & Condominium Advisory Council (CCAC) managed to halt a bill in its tracks that would have coerced cooperative boards into granting automatic acceptance of applicants. …
Editor’s Note: The web article published on 7/14/16 “Give Me a J-51” by John Zurz on legislation sponsored by State Sen. Tony Avella and Assemblyman Edward Braunstein on the J-51 tax abatement program, has been corrected to clarify tha…
Who knew? Who'd ever thought that your weekly movie screening inside your condo or co-op's rec room could get your HOA into possible legal trouble? Incredible as it may be, but that seemingly innocent and fun activity with your neighbors c…
Taking care of a condo or co-op building’s budget and finances is a big job. Handling such large sums of money is an important responsibility, and not every shareholder or unit owner has the expertise to do the job well. Sure, most people k…
Rare in all but a few cities around the country, residential co-ops are by far the most prevalent type of owner-occupied apartment in New York City, outnumbering condos by 3-1 by some estimates. According to a study commissioned by N…
The 2015-16 New York State Legislative season is here, and on the table are many housing-related bills, many of which directly impact co-op and condo board members, managers and residents. Housing is also on the agenda in the New York City…
The idea of cooperative living began in the 19th century in central and northern European countries, and came to America late in that century, sprouting in various forms in parts of New York City. For some residents here, it was a way that…
I would like to establish a revocable living trust and place my co-op apartment in the trust. This will avoid probate for my heirs. My co-op board is unwilling to agree to my request. I have not been given a reason for this. How can I convi…