Home A-Loan The Lowdown on Reverse Mortgages

By Cooperator Staff 2004 Jul Finance

"¢ Borrower must be age 62 or older

"¢ No monthly payment is required

"¢ Must obtain co-op board approval in most cases

"¢ Proceeds can be used for any purpose

"¢ No financial reports, credit history or medical reports required

Appropriate Use of Common Funds

Handling Other People’s Money

The Lending Landscape

The State of Co-op and Condo Financing

The Home Equity Line of Credit Is Making a Comeback

After the 2008 Financial Crisis, HELOC Financing Is Again Available

Comments

55hisako@gmail.com on Wednesday, August 13, 2008 12:32 AM

Under what cercumstance co op refuse for me to get home equity loan? I am 62 years old and I would like to get a half million loan aginst debt free, owned 2 million plus co-op.

Events

Tue, Apr 24, 8:30am – 10:00am

REBNY’s Residential Property Management Seminar on Co-gen Systems

Tue, Apr 24, 8:30am – 10:00am add to calendar 24-04-2018 08:30 24-04-2018 10:00 America/New_York REBNY’s Residential Property Management Seminar on Co-gen Systems Join William Cristofaro, PE and Paul Kenna, PE of Integrated Energy Concepts Engineering as they provide an overview of co-gen systems in NYC. Topics will include: common systems for residential and commercial buildings; economic and environmental benefits; available incentives; regulatory environment. For information, visit www.rebny.com.  570 Lexington Avenue, Leonard Litwin Classroom (lower level), New York, NY MM/DD/YYYY

REBNY’s Residential Property Management Seminar on Co-gen Systems

Join William Cristofaro, PE and Paul Kenna, PE of Integrated Energy Concepts Engineering as they provide an overview of co-gen systems in NYC. Topics will include: common systems for residential and commercial buildings; economic and environmental benefits; available incentives; regulatory environment. For information, visit www.rebny.com.

570 Lexington Avenue, Leonard Litwin Classroom (lower level), New York, NY map

Tue, Apr 24, 6:00pm – 7:00pm

CNYC Annual Meeting & Election of Directors

Tue, Apr 24, 6:00pm – 7:00pm add to calendar 24-04-2018 18:00 24-04-2018 19:00 America/New_York CNYC Annual Meeting & Election of Directors Updates on Key Issues –networking Opportunities. All are welcome but advance registration Is required. For information, visit <a href="https://www.google.com/url?q=http%3A%2F%2Fwww.cnyc.com&sa=D&ust=1519402158867000&usg=AFQjCNHpROpAfEjc--xyRrUC6LTkofKV6Q" target="_blank">www.cnyc.com</a>.  Location TBA MM/DD/YYYY

CNYC Annual Meeting & Election of Directors

Updates on Key Issues –networking Opportunities. All are welcome but advance registration Is required. For information, visit <a href="https://www.google.com/url?q=http%3A%2F%2Fwww.cnyc.com&sa=D&ust=1519402158867000&usg=AFQjCNHpROpAfEjc--xyRrUC6LTkofKV6Q"; target="_blank">www.cnyc.com</a>. ;

Location TBA map

Wed, Apr 25, 6:00pm – 8:00pm

CAI-LI Membership Meeting and Educational Seminar: 'Reserve Study'

Wed, Apr 25, 6:00pm – 8:00pm add to calendar 25-04-2018 18:00 25-04-2018 20:00 America/New_York CAI-LI Membership Meeting and Educational Seminar: 'Reserve Study' Guest Speaker: Peter B. Miller, RS, EBP and Principal from Miller Dodson Capital Reserve Consultants. For information, visit <a href="http://www.cai-li.org/">www.cai-li.org</a>. Fairfield Corporate Plaza, Broad Hollow Road (Route 110), Melville, NY MM/DD/YYYY

CAI-LI Membership Meeting and Educational Seminar: 'Reserve Study'

Guest Speaker: Peter B. Miller, RS, EBP and Principal from Miller Dodson Capital Reserve Consultants. For information, visit <a href="http://www.cai-li.org/">www.cai-li.org</a>;.

Fairfield Corporate Plaza, Broad Hollow Road (Route 110), Melville, NY map

Thu, Apr 26, 9:00am – 4:30pm

The Cooperator Expo New York

Thu, Apr 26, 9:00am – 4:30pm add to calendar 26-04-2018 09:00 26-04-2018 16:30 America/New_York The Cooperator Expo New York Learn about the latest building services from more than 300 exhibitors, Attend educational seminars, get free advice from industry experts, and network with your peers at this leading real estate trade show in New York. For information and to register, visit www.coopexpo.com. New York Hilton Midtown, 1335 6th Ave, New York, NY 10019, USA MM/DD/YYYY

The Cooperator Expo New York

Learn about the latest building services from more than 300 exhibitors, Attend educational seminars, get free advice from industry experts, and network with your peers at this leading real estate trade show in New York. For information and to register, visit www.coopexpo.com.

New York Hilton Midtown, 1335 6th Ave, New York, NY 10019, USA map

Sat, May 5, 8:00am – 2:00pm

CAI-LI: Board Leadership Development Workshop

Sat, May 5, 8:00am – 2:00pm add to calendar 05-05-2018 08:00 05-05-2018 14:00 America/New_York CAI-LI: Board Leadership Development Workshop For information, visit <a href="http://www.cai-li.org/">www.cai-li.org</a>. Belfor Property Restoration Conference Room, 60 Raynor Avenue, Ronkonkoma, NY MM/DD/YYYY

CAI-LI: Board Leadership Development Workshop

For information, visit <a href="http://www.cai-li.org/">www.cai-li.org</a>;.

Belfor Property Restoration Conference Room, 60 Raynor Avenue, Ronkonkoma, NY map

Tue, May 8, 10:00am – 5:00pm

BuildingsNY

Tue, May 8, 10:00am – 5:00pm add to calendar 08-05-2018 10:00 09-05-2018 17:00 America/New_York BuildingsNY BuildingsNY is the single source, full product life-cycle solution to safely and cost-effectively operate your buildings with a unique combination of an exhibition, <a href="http://www.buildingsny.com/Education/">no-cost accredited education</a>, partnership opportunities, and networking events. For information, visit http://www.buildingsny.com. Jacob K. Javits Convention Center, 655 W. 34th St, New York, NY 10001, USA MM/DD/YYYY

BuildingsNY

BuildingsNY is the single source, full product life-cycle solution to safely and cost-effectively operate your buildings with a unique combination of an exhibition, <a href="http://www.buildingsny.com/Education/">no-cost accredited education</a>, partnership opportunities, and networking events. For information, visit http://www.buildingsny.com.

Jacob K. Javits Convention Center, 655 W. 34th St, New York, NY 10001, USA map

Wed, May 16, 9:00am – 4:00pm

The Only Brooklyn. Real Estate Conference

Wed, May 16, 9:00am – 4:00pm add to calendar 16-05-2018 09:00 16-05-2018 16:00 America/New_York The Only Brooklyn. Real Estate Conference Since 2010, TerraCRG has hosted the borough’s most engaging and relevant Only Brooklyn.® Real Estate Conference, gathering hundreds of real estate players to discuss the future of one of the most powerful sub-markets in the country. TerraCRG’s Conference features curated panel topics that revolve around current real estate projects, trends and issues happening throughout Brooklyn. For information, visit onlybklyn.com. Brooklyn Academy of Music, 30 Lafayette Ave, Brooklyn, NY 11217, USA MM/DD/YYYY

The Only Brooklyn. Real Estate Conference

Since 2010, TerraCRG has hosted the borough’s most engaging and relevant Only Brooklyn.® Real Estate Conference, gathering hundreds of real estate players to discuss the future of one of the most powerful sub-markets in the country. TerraCRG’s Conference features curated panel topics that revolve around current real estate projects, trends and issues happening throughout Brooklyn. For information, visit onlybklyn.com.

Brooklyn Academy of Music, 30 Lafayette Ave, Brooklyn, NY 11217, USA map

Wed, May 16, 10:00pm – 1:30am

CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors

Wed, May 16, 10:00pm – 1:30am add to calendar 16-05-2018 22:00 17-05-2018 01:30 America/New_York CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors In this 2-session class, attorney Marc Luxemburg and property manager Gregory Carlson examine all aspects of operating cooperatives. The class is limited to board members of housing cooperatives. It is jointly sponsored by CNYC, the Federation of New York Housing Cooperatives and Condominiums and the Association of Riverdale Cooperatives, each of whose members attend at the member rate. Advanced registration is required. A light supper is served in the break. The cost is $125 per person if your cooperative is a member of CNYC; ARC or FNYHC, $200 for non-members. Pre- reserve, by phone (212) 496- 7400 or e-mail to workshops@CNYC.coop. Payment sent to CNYC at 250 West 57 Street, Suite 730, NYC 10107 confirms your registration. There is a surcharge of $15 for late payment. TBA MM/DD/YYYY

CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors

In this 2-session class, attorney Marc Luxemburg and property manager Gregory Carlson examine all aspects of operating cooperatives. The class is limited to board members of housing cooperatives. It is jointly sponsored by CNYC, the Federation of New York Housing Cooperatives and Condominiums and the Association of Riverdale Cooperatives, each of whose members attend at the member rate. Advanced registration is required. A light supper is served in the break. The cost is $125 per person if your cooperative is a member of CNYC; ARC or FNYHC, $200 for non-members. Pre- reserve, by phone (212) 496- 7400 or e-mail to workshops@CNYC.coop. Payment sent to CNYC at 250 West 57 Street, Suite 730, NYC 10107 confirms your registration. There is a surcharge of $15 for late payment.

TBA map

Wed, May 23, 2:00pm – 3:00pm

CAI Webinar: Hit the Road: Private Road Repair in Your Community

Wed, May 23, 2:00pm – 3:00pm add to calendar 23-05-2018 14:00 23-05-2018 15:00 America/New_York CAI Webinar: Hit the Road: Private Road Repair in Your Community How are you going to fix that road? Good Question! For association boards and managers interested in permanently fixing and maintain their roads and driveways, this webinar on the Road Repair Handbook fully explains why roads fall apart and how to repair them. You’ll learn straightforward advice, practical tips, and smart construction strategies for the process and pitfalls inherent in repairing dirt, gravel, concrete, and asphalt roads. For information, visit www.caionline.org.  MM/DD/YYYY

CAI Webinar: Hit the Road: Private Road Repair in Your Community

How are you going to fix that road? Good Question! For association boards and managers interested in permanently fixing and maintain their roads and driveways, this webinar on the Road Repair Handbook fully explains why roads fall apart and how to repair them. You’ll learn straightforward advice, practical tips, and smart construction strategies for the process and pitfalls inherent in repairing dirt, gravel, concrete, and asphalt roads. For information, visit www.caionline.org. ;

Wed, May 23, 10:00pm – 1:30am

CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors

Wed, May 23, 10:00pm – 1:30am add to calendar 23-05-2018 22:00 24-05-2018 01:30 America/New_York CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors In this 2-session class, attorney Marc Luxemburg and property manager Gregory Carlson examine all aspects of operating cooperatives. The class is limited to board members of housing cooperatives. It is jointly sponsored by CNYC, the Federation of New York Housing Cooperatives and Condominiums and the Association of Riverdale Cooperatives, each of whose members attend at the member rate. Advanced registration is required. A light supper is served in the break. The cost is $125 per person if your cooperative is a member of CNYC; ARC or FNYHC, $200 for non-members. Pre- reserve, by phone (212) 496- 7400 or e-mail to workshops@CNYC.coop. Payment sent to CNYC at 250 West 57 Street, Suite 730, NYC 10107 confirms your registration. There is a surcharge of $15 for late payment. TBA MM/DD/YYYY

CNYC: Introduction to Co-op Board Responsibilities: An Intensive Seminar for New Directors

TBA map

Wed, Jun 6, 3:00pm – 6:00pm

CAI-LI Chapter's 7th Annual Golf Outing

Wed, Jun 6, 3:00pm – 6:00pm add to calendar 06-06-2018 15:00 06-06-2018 18:00 America/New_York CAI-LI Chapter's 7th Annual Golf Outing Shotgun start at 3 pm for nine holes on the sandpiper course; dinner follows at 5:15 p.m. For information. Visit <a href="http://www.cai-li.org/">www.cai-li.org</a>. Spring Lake Golf Club, 30 E Bartlett Rd, Middle Island, NY 11953, USA MM/DD/YYYY

CAI-LI Chapter's 7th Annual Golf Outing

Shotgun start at 3 pm for nine holes on the sandpiper course; dinner follows at 5:15 p.m. For information. Visit <a href="http://www.cai-li.org/">www.cai-li.org</a>;.

Spring Lake Golf Club, 30 E Bartlett Rd, Middle Island, NY 11953, USA map

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News

4/20/2018 Billionaires’ Row will sprout a 52-story hotel and condo - Curbed

Developer Sheldon Solow is looking to build yet another skyscraper on Billionaires’ Row. His firm, Solow Management, filed plans with the city’s Department of Buildings for a 52-story building that’s set to rise at 12 West 57th Street. YIMBY first reported on the development.
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4/20/2018 A Central Park West Townhouse, Rooted in History, on the Market for $29 Million - NY Times

The imposing Queen Anne townhouse at 248 Central Park West sits in a prime historic district facing the park, one of just three remaining houses erected in 1887, between 84th and 85th Streets, by the builder William Noble.
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4/20/2018 NYC neighborhoods where prices are skyrocketing - NY Post

Watch your wallets in these neighborhoods.
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4/19/2018 River View Co-Op on New York City’s Upper West Side - Variety

Actor, comedian, political commentator and former CNBC talk show host Charles Grodin and novelist Elissa Durwood Grodin have their New York City apartment available at $3.2 million.
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4/19/2018 Brooklyn condo sellouts reach highest value since 2007 - The Real Deal

Brooklyn condo sellouts have hit their highest value in more than a decade.
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4/19/2018 Mount Kisco, N.Y.: Affordable, Walkable and Multicultural - NY Times

Good schools, check. Train station no more than an hour’s commute from Manhattan, check. Proximity to parks and forests, check.
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4/19/2018 Teen jumps to her death from Greenwich Village co-op - NY Post

A 15-year-old girl jumped to her death from the 15th floor of a Greenwich Village co-op late Wednesday afternoon, police said.
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4/18/2018 Nolita’s new ‘quiet’ condo - The Real Deal

On a clamorous corner along Kenmare Street in Nolita, the Japanese architect Tadao Ando has designed what he calls a “very quiet piece of architecture.”
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4/18/2018 Is there a link between property tax rates and the rate at which your home appreciates in value? - Washington Post

Nobody likes getting tax bills, especially homeowners who are burdened with ever-escalating local property taxes. Last year, property taxes collected by local and state governments rose by an average 6 percent — $293.4 billion in total — almost three times the annual rate of inflation.
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4/18/2018 Tompkins County's lack of condos faces pricing, legislative issues - Ithaca.com

In Tompkins County, the answer to the affordable housing crisis has a number of facets that, at face value, have nothing to do with the construction of housing that is inherently affordable.
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4/17/2018 Four-alarm Trump Tower fire caused by overloaded power strips, says FDNY - Curbed

The four-alarm fire that broke out on April 7 on the 50th floor of Midtown’s Trump Tower, killing one resident and injuring six firefighters, was caused by overloaded power strips, reports the New York Daily News.
Read full story

4/17/2018 Manhattan Luxury Market Springs to Life - Mansion Global

Despite uncertainty whipping around Manhattan’s luxury market, it has had the best start to spring since the boom days of 2015, according to the Olshan Report Monday.
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4/17/2018 Eli Manning sells condo for highest price in Hoboken history - NY Post

The Giants’ starting quarterback sold his waterfront home in Hoboken, NJ, for $3.55 million — the most expensive price anyone has ever paid for a condo in the city’s history, says a Douglas Elliman spokesman.
Read full story

4/17/2018 Council pushes mayor for more anti-Airbnb funding - Crain's New York Business

The City Council hopes to pump up a task force targeting illegal home rentals—a move that could deflate Airbnb.
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4/17/2018 Indian steel tycoon’s family paid $25M for Trump International pad: sources - The Real Deal

A member of the Mittal family, whose patriarch Lakshmi Mittal heads the world’s largest steel producer ArcelorMittal, paid $25 million for an apartment at Trump International Hotel and Tower in Manhattan, according to sources familiar with the deal.
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4/16/2018 How a Time Warner Center condo finally sold after decade on the market- The Real Deal

A Columbus Circle condominium that appeared unsellable for the past decade, has finally sold for almost $12 million — almost half the amount of an earlier asking price.
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4/16/2018 Trump Tower condo prices tank amid increased security, scrutiny - Reuters

For Todd Brassner, an art dealer who died in a fire that ripped through his Trump Tower apartment last weekend, the New York high-rise he lived in for two decades became unbearable after Donald Trump announced he was running for president.
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4/16/2018 443 Greenwich’s priciest penthouse could smash downtown sale record - Curbed

Once again, a contender for the title of downtown’s priciest sold apartment has emerged—and once again, a penthouse at 443 Greenwich Street is the property vying for that title.
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4/13/2018 Big reveal: $549K for a small, updated Upper West Side co-op - Curbed

This week’s Pricespotter apartment— a small, renovated one-bedroom on the Upper West Side— is asking $549,000. No one managed to guess that price, but Svetlana_NYC came the closest with a guess of $550,000.
Read full story

4/13/2018 Eichner gets reprieve in power struggle over Flatiron condo project - The Real Deal

Ian Bruce Eichner scored a win in his battle with partners Fortress Investment Group and Dune Real Estate for control of their Flatiron District condominium tower.
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Appropriate Use of Common Funds

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The Home Equity Line of Credit Is Making a Comeback

After the 2008 Financial Crisis, HELOC Financing Is Again Available

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