Category: Q&A

Q&A
2006 Aug Q&A: Elevator Replacement

Q Our six-story Queens condo is considering replacing our elevator. We have stairs, obviously, but getting up and down six stories will be difficult for some of our older unit owners. What legal obligations do we have as the board to p…

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Q&A
2006 Aug Q&A: Sponsor Conflict

Q After serving on my board for the past two years as a vice president, I have now been elected president of my 83-unit Manhattan co-op. The equity sponsor (and 14 percent shareholder) has always been on the board, and for the last thre…

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Q&A
2006 Aug Q&A: Board Trouble

Q We have only three board members in our building. The current board has been in place for about seven years, and our shareholders would like to remove them because they’re ineffective. They failed to replace a board member who resigne…

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Q&A
2006 Jul Q&A: Washing Machine Woes

Q I’m a resident co-op shareholder, and despite the clearly stated bylaw that washing machines and dryers are not allowed in my building, the resident board president living underneath me illegally has not one, but both appliances in h…

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Q&A
2006 Jul Q&A: 80/20 Rule

Q I am the current board president of a 48-unit Housing Development Fund Corporation (HDFC) co-op located in Manhattan. Recently, in an effort to bolster operating income, without increasing maintenance assessments, previous boards had…

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Q&A
2006 Jul Q&A: Voting Question

Q Late last year, our board decided to make changes to our bylaws by an act of resolution; a move not authorized by our governing documents. A group of shareholders called a special meeting to oppose the changes, and they were voted on…

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Q&A
2006 Jul Q&A: Too Powerful Prez?

Q I am on the board of my Ridgewood, Queens co-op, and I have a problem with our current board president. Without consulting the other board members, the president has cancelled our upcoming meeting, saying that there is ‘nothing on the…

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Q&A
2006 Jun Q&A: A Fair Sublet Fee?

Q I’m curious! What is a fair sublet fee for a small Brooklyn co-op? Is it just a percentage of the maintenance, or decided upon by some other formula? —Brooklyn Shareholder A Michael Manzi, an attorney at Balber Picka…

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Q&A
2006 Jun Q&A: Brownstone Apartment Merger

Q We’re in the process of purchasing two studios in a small brownstone co-op. Our plan is to combine them into one apartment. How will reducing the number of dwellings in the building affect the overall co-op in terms of taxes, mortgage…

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Q&A
2006 Jun Q&A: Problem Board Members

Q I’m currently the vice president for our co-op, a 334-unit community on Long Island. We’re having difficulties with two of our board members. One has been on the board for five years, and has been very destructive. For example, this b…

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