Category: Finance

Finance Subletting Pros and Cons
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 A Mortgage Primer
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 When Sponsors Don't Sell
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 Analyzing Financials
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 Raising Revenue in Co-ops and Condos
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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Finance Co-op to Condo Conversion:
1999 Dec/Jan Co-op to Condo Conversion:

Last summer, a financially beleaguered 47-unit cooperative at 30 West 90th Street in Manhattan made news when it converted to condominium status. That was not the first time a co-op converted to condo. A Teaneck, New Jersey co-op underwent …

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Finance Detailing the Dollars
1998 Apr Detailing the Dollars

Thinking about your co-op or condo as a financial entity doesn't produce the same warm feeling as thinking about it as a home; but the fact remains that it is a financial entity in which you and your fellow shareholders or unit owners hav…

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Finance Refinancing End Loans
1998 Apr Refinancing End Loans

It seems as though everyone is talking about refinancing these days. With interest rates at an all-time low, more and more homeowners are taking advantage of the opportunity to reduce their monthly mortgage payments and/or take more equit…

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Finance Lost & Found Money
1998 Mar Lost & Found Money

Wouldn't it be nice to save your building thousands of dollars without doing any work? Well, there is a way it can be done. Although many co-op and condo boards may not know it, utility audit companies have been around for years, finding …

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Finance The Self-Amortizing Loan
1998 Dec/Jan The Self-Amortizing Loan

What a time to be shopping for a new underlying mortgage! Interest rates are again nearing a 30-year bottom and several dozen lenders are scrambling to fill their portfolios. Spreadsthe incremental amount that a lender adds to an index (s…

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