Category: Finance

Finance
2000 Jul Translation, Please!

Whether you’re a co-op or condo owner or on your building’s board, you are considered a primary user of the property’s financial statements. As such, you should definitely make it a point to understand what you’re looking at–to not only be …

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Finance
2000 Jul Reducing Costs

Many expenses, small and large, are involved in the process of managing a residential building. A majority of these are unavoidable, such as mortgage payments in the case of a co-op, utility costs and payroll; however, when large sums of…

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Finance
2000 Jul The Best Way to Grow

All healthy co-ops or condos possess healthy bank accounts. One way to make sure that financial glow stays bright is to infuse it with extra income, above and beyond the usual monthly fees and payments. There are a number of options for bri…

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Finance
2000 Jun The Cooperative Century

Quick: the first residential co-op was created in (a) 2000 BC (b) the 1700’s (c) the 1800’s (d) the 20th century. Now, don’t laugh off choice "a," 2000 BC. While there doesn’t appear to have been co-ops quite that far back, there are record…

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Finance
2000 Dec/Jan Brokers & Bankers

Nearly 100 percent of New York City co-ops have an underlying mortgage of anywhere from a few thousand dollars to millions of dollars. If you own a co-op, having an additional multi-million dollar mortgage hanging over your head might sound…

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Finance
2000 Dec/Jan Subletting Pros and Cons

The board of a co-op is required to perform an ongoing balancing act, weighing both the needs of the individual shareholders and the good of the whole. Nowhere is this more apparent than the controversial issue of subletting. While owners f…

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Finance
2000 Dec/Jan A Mortgage Primer

To paraphrase Sy Syms, "an educated board member is a lender’s best borrower!" That concept underlies all of the articles I have written about co-op financing. Since my last article for The Cooperator ("Dial ‘M’ for Mortgage," December/Janu…

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Finance
1999 Nov When Sponsors Don't Sell

Before 1989, during the height of the real estate market, shareholders were buying and selling apartments at an accelerated rate. But when the recession hit the market, between 1989 and 1993, co-op sponsors (holders of unsold shares) couldn…

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Finance
1999 Mar Analyzing Financials

There are countless war stories told by real estate brokers of deals that fell apart because the buyer felt that the building's financial statement contained negative information. There is no question that it is essential to review the fina…

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Finance
1999 Feb Raising Revenue in Co-ops and Condos

Could your building use a facelift? Have you contemplated better-fitting windows, new carpet or an updated elevator, but the board's answer was always "There's not enough cash." From renovation and moving fees to renting out roof or basemen…

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