Consider the (fictional) couple, Mr. and Mrs. Smith. They love their co-op apartment, and have lived in their comfortable and convenient New York City neighborhood for the last seven years, moving in when Mr. Smith took a job as editor…
Everyone is feeling the crunch of the ongoing recession and as building communities look for ways to raise revenue without adding to their residents’ current financial worries with large assessments, flip taxes are becoming a hot topic.…
For almost a year now, we have been hearing more and more about the subprime mortgage crisis. Subprime mortgages are mortgages that banks sell to borrowers whose problematic credit ratings do not allow them to get mortgages at better rat…
Most individuals have a healthy sense of ethics, choosing to run their personal lives and business affairs aboveboard. Unfortunately, a few bad apples are inevitable. Co-op and condo board members and managers are in positions of autho…
Carrying on The Cooperator's popular series of "roundtable" discussions for professionals in various disciplines of the city's residential real estate industry, a group of representatives from the worlds of co-op and condo law, finance a…
Q After serving on my board for the past two years as a vice president, I have now been elected president of my 83-unit Manhattan co-op. The equity sponsor (and 14 percent shareholder) has always been on the board, and for the last thre…
Q Late last year, our board decided to make changes to our bylaws by an act of resolution; a move not authorized by our governing documents. A group of shareholders called a special meeting to oppose the changes, and they were voted on…