Last week, the New York State Senate did not take up renewal or replacement of the 421a tax abatement that is set to expire on June 15, 2022, leaving the fate of the program—and new residential building in the city—in limbo. Currently kno…
With costs rising—and accidents and property damage a perpetual worry for boards and owners alike—it’s vital that both you and your co-op or condo association be properly insured against liability and loss. Boards and residents also need to…
The financing landscape for co-ops has never been more diverse than it is today, or more customizable for a community's unique needs. The array of options for structuring a mortgage to help your co-op accomplish its long-term objectives is …
Commercial umbrella coverage is an essential protection from big liability claims against your building—but insurance markets have grown increasingly volatile in the last two years, and there are fewer programs offering adequate protection …
Many co-op and condo boards are exploring solar as a potential source of energy for their buildings. This enlightening conversation will explain how solar works, break down the costs involved—as well as incentive and subsidy programs and fi…
Residents who do not pay their common charges and maintenance are a significant issue for co-op and condo communities—today more than ever. The pandemic and now inflation have created financial pressures on many residents. The lack of predi…
If your co-op or condo is considering a major capital project, it's never too early for your board to begin planning, familiarizing itself with current lending guidelines, and thinking about how the community's reserve funds will be repleni…
Passed in 2019, The Climate Mobilization Act (CMA) is an ambitious legislative package that puts emissions limits on New York City’s large commercial and residential buildings. In addition to these limits, which are codified in Local La…
The Real Deal reports that developer Barnet Liberman has been sued for failure to pay common charges in the building he co-developed and in which he owns (or just lives in, depending who you ask—see below) the penthouse. Along with a part…
On May 10, 32BJ SEIU and Laborers’ Local 79 rallied at City Hall in support of the One45 Harlem development project and spotlighted the project’s workforce housing proposal that will bring family-sustaining union jobs to Harlem. The rally c…