When the bank took back a Harlem condominium, the rest of the building's residents were stuck with years of unpaid arrears by the former resident. “There was a tremendous amount of arrears from about three or four years already accruing…
When it comes to running board elections in a condo or co-op community, the biggest concern among those involved is making sure the elections are fair and balanced and nobody has a reason to cry foul. Elections can be heated as it is, …
In your own household, you have money coming in and money going out. You have things you want to save up for—say, a new cool high-def, flat screen television or the latest iPad. Yet you owe your car company and your creditors. To keep i…
Legendary funny man Benny Goodman once said, “I don’t want to tell you how much insurance I carry with the Prudential, but all I can say is: when I go, they go too!” The comedian hits on all-important issue: how much insurance is too muc…
With the green movement in full swing across the country, it is not surprising that incorporating energy saving and efficient measures has trickled into condominium development. Today, many buildings in the New York area pride themselv…
Insurance is designed to be there for us when we need it most. Without knowing the full extent of our coverage, though, we may find ourselves facing an emergency with less protection than we thought. For shareholders or unit owners, it…
For a crystal-clear picture of how a co-op board or condo association is doing, there are few better lenses than the community's budgets and financial reports. From an investment perspective, they show the association board, property m…
Given our chilly winters and blistering hot summers, those living in New York co-ops and condos are keenly aware of the importance of properly working heating, ventilation, and air conditioning (HVAC) systems. That’s why it’s im…
Last November marked the completion of a two-year, $20 million renovation of the lobby of the Empire State Building—a pretty hefty sum just to retrofit such a particular space. While the cost was certainly of large proportions, it is no…
Insurance is a relatively simple concept that any homeowner can understand. You purchase a policy paying a premium to an insurer, and when a claim gets filed, the insurer pays. So in theory, insuring your co-op or condo building should …