Category: Maintenance

1996 Sep Submetering Saves Money By Stacey Cooper

You live alone. You work long hours. When you aren't home, you turn off all the lights and the air conditioning. You do everything you can to conserve energy. Your neighbors, on the other hand, have five kids and are home all the …

Maintenance

1996 Apr Revolutionary Laundry Rooms By Stacey Cooper

Forget the dark, dingy room with uncomfortable chairs and crummy machines. Never mind running down to the laundry room with an armload of clothes to find that all the machines are in use. Those days are over. Imagine a laundry room that i…

News

4/3/2020 Court of Appeals Strikes Part of New York Rent Law, in Win for Landlords—New York Law Journal

New York’s highest court on Thursday struck down a portion of the state’s new rent law, ruling that it violated due process for building owners who could be exposed to “enormous” liability if it were left intact.
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4/3/2020 Coronavirus Update: Some Postal Service Disrupted Due To The Pandemic—CBS2 New York

The day to day operations of many industries are changing during this uncertain time. One essential business struggling to keep up with demand during the coronavirus outbreak is the United States Postal Service, and residents are noticing.
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4/3/2020 Why Won’t My Building Tell Me if a Resident Has Coronavirus?—New York Times

At this point, with well over 40,000 cases of coronavirus in New York City, you should operate on the assumption that the virus is in your building, including on surfaces you encounter as you go about your day, which is why you should reduce your contact with your neighbors as much as possible.
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4/2/2020 Manhattan real estate sales ground to a halt in March. Prices could plunge next—CNBC

Manhattan real estate sales ground to a halt at the end of March, and some industry experts say prices could fall 30% or more once activity resumes.
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4/2/2020 Moving in NYC during coronavirus is more nightmarish than usual—NY Post

The family started packing boxes and plotting renovations while awaiting final mortgage approval from the bank for an expected April 1 closing. Then the coronavirus pandemic gripped New York, freezing the gears of the economy. People like Sosin — in the middle of scheduling moves, that most arduous of New York tasks — were thrown into uncertainty. Some are still scrambling to figure out backup plans.
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4/2/2020 How NYC Apartment Buildings Are Battling COVID-19 Spread—WNYC

The majority of New York City residents live in apartments — in close quarters with neighbors above, below and on either side. And that has added to the challenges of slowing the spread of COVID-19 in the five boroughs.
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4/1/2020 Manhattan apartment listings, contracts signed drop significantly amid pandemic—New York Business Journal

New listings for Manhattan apartments and condos were down 85% last week, compared with the same week a year earlier, according to the latest report by UrbanDigs.
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4/1/2020 The show must go on—virtually—for brokers—Crain's New York Business

Closing day arrived for two Manhattan condo units that brokers Jacky Teplitzky and Barak Dunayer had listed for sale—and that, in the age of Covid-19, was a problem.
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3/31/2020 Thousands of New York City Residential Buildings Shutter Construction Amid Covid-19—Mansion Global

A mandate to close all non-essential construction sites, including most of the 4,000 new buildings rising across the city, was in many cases a fait accompli by the time Gov. Andrew Cuomo announced it last week.
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3/31/2020 4 COVID-19 Questions Clients Are Asking Real Estate Lawyers—Law360.com

The global spread of COVID-19 has created great uncertainty in the real estate market and as a result, real estate lawyers have been bombarded over the last six weeks with wide-ranging questions and concerns from clients.
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3/31/2020 COVID-19 Update: NYS Department of Law Modifies Submission Requirements for Condo and Co-op Offering Plans and Amendments—JDSupra

On March 25, the State of New York Department of Law (DOL) issued a policy memorandum temporarily modifying certain submission requirements for condominium and cooperative offering plans and amendments thereto. The COVID-19 state of emergency has made these requirements increasingly difficult to enforce for the DOL and comply with for sponsors. Accordingly, the modifications seek to create a more relaxed and, with few exceptions, entirely digital process intended to facilitate the continued offering and marketing of projects without sacrificing DOL’s oversight function.
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3/31/2020 The Manhattan Condo Market Showed a Flicker of Hope. The Virus Snuffed It Out.—The Wall Street Journal

Just as the Manhattan residential real-estate market was shaking itself out of a multiyear slowdown, the party was suddenly over.
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3/31/2020 Can you move in NYC during the coronavirus outbreak?—6sqft.com

While most of life seems to be put on hold at the moment, there are a few tasks that can’t be avoided. This includes moving apartments, typically a dreadful experience for New Yorkers with or without an ongoing pandemic. But moving companies are considered an essential service, according to New York City and State officials. Ahead, find out what you need to know about moving in NYC during the coronavirus outbreak, from the extra protocols movers are taking to your rights as a tenant.
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3/31/2020 Luxury Park Ave. condo owners asked to ‘volunteer’ as doormen amid coronavirus pandemic—NY Post

Residents of a luxury Park Avenue building are up in arms after their management company suggested they “volunteer” as doormen if staff shortages continue amid the coronavirus pandemic, The Post has learned.
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3/31/2020 New York bans nonessential construction amid coronavirus pandemic—Curbed

Gov. Andrew Cuomo has halted most construction statewide in response to the novel coronavirus pandemic sweeping New York, following outcry from workers and lawmakers when the industry was largely unaffected by a shut down of all nonessential businesses.
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3/30/2020 Extell Halts Central Park Tower Work Due To Coronavirus: Report—Patch.com

Developers of the largest planned residential tower in New York City are self-enforcing a construction stoppage due to safety concerns presented by the spread of coronavirus, according to reports.
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3/27/2020 Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package—New York Times

The federal government’s planned $2 trillion economic rescue package includes financial aid for individuals and industries that are struggling to survive the coronavirus pandemic. It also includes a potential bonanza for America’s richest real estate investors.
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3/26/2020 City could to lose up to $6B—Politico

City Comptroller Scott Stringer predicted Monday that the economic effects of the coronavirus outbreak will cost the city up to $6 billion through the end of the next fiscal year.
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3/26/2020 City offers to help property owners with tax payments—Real Estate Weekly

he New York City Department of Finance offers several programs to assist property owners who face hardships making their property tax payments.
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3/26/2020 People are still putting their mansions on the market—Business Times

Bill Grabowski, the owner of Healthstar Inc a pharmaceutical machinery business, has lived with his wife on the same piece of land in Quincy, Massachusetts, for more than 30 years. Now, with US equities imploding and states of emergency being declared across the country, Mr Grabowski has decided to list his four-bedroom, four-bath house for just under US$2.7 million. "The worst thing that happens is, nobody buys it," he says.
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