2009 April
Focus on... Real Estate Market/Expo

Real Estate Trends
2009 April A Look Back at a Wild Year

The year 2008 is likely to go down in history as one of the most disappointing (or maybe flat-out alarming) for the U.S. economy in general. To be fair, the city hasn’t suffered as much as most of the nation has—but the co-op and condo …

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Real Estate Trends
2009 April New Economic Changes the Game

Despite the collapse in housing prices in much of the country and a definite slowdown in sales, new residential development in New York City—and Manhattan in particular—continues, though at a much more modest pace than in recent years. T…

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Real Estate Trends
2009 April The Sky is Falling...Prices, Too.

On September 15, 2008, Lehman Brothers investment bank went under in the largest bankruptcy of all time. The economy was already on the decline, other august companies had already foundered, and both presidential candidates were procla…

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Real Estate Trends
2009 April Not Everyone In Favor of Flip Taxes

Everyone is feeling the crunch of the ongoing recession and as building communities look for ways to raise revenue without adding to their residents’ current financial worries with large assessments, flip taxes are becoming a hot topic.…

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Real Estate Trends
2009 April A Look at Green Roofs

It’s such a simple idea—covering your roof with plants—that it’s no surprise people have been doing it for millennia. From the hanging gardens of ancient Babylon to the terraced farmsteads of the Andes, working greenery into everyday ar…

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Real Estate Trends
2009 April Keeping Balconies Safe and Attractive

 Ever since “Romeo and Juliet” made them famous, balconies have been popular additions to our homes and living  spaces. For co-op and condo communities, balconies can add an extra perk, a few  more feet of living space that allow us to enj…

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Real Estate Trends
2009 April What to Do Before the Emergency

 You’ve been notified of a cardiac (or other) medical emergency in your co-op or  condo building. Someone has called 911, someone else is administering cardio-pulmonary  resuscitation (CPR) and someone else is bringing the automatic extern…

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Real Estate Trends
2009 April A Green Lining in a Down Market

 The realities of a depressed real estate market have finally settled upon New  York City. We’ve seen a significant drop in sale prices over just the past few months. This  has been coupled with a rapid increase in inventory levels as unit…

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Real Estate Trends
2009 April What You Must Know

It’s amazing how good building owners and managers are at increasing and garnering revenue from residential tenants while at the same time leaving themselves to the will and whim of laundry room operators who impose contracts lasting fo…

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Real Estate Trends
2009 April Legal Cases Your Board Should Know

 While not everyone who serves on his or her co-op or condo board needs to be an  attorney or have an encyclopedic knowledge of the law, it never hurts to be  aware of the important, often precedent-setting legal decisions being handed  do…

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Real Estate Trends
2009 April Answering the Day-to-Day Questions

 Your roof terrace leaked and the neighbor below you sued for damages. The  heating system in your apartment failed to work and the managing agent sent you  the bill for its repair. You bought a dog for your child, and six months later  th…

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Real Estate Trends
2009 April Training for Building Personnel

On the infamous evening of September 11, 2001, Battery Park City resident Hank Wisner was unable to go home to his smoke- and ash-filled apartment across the street from the World Trade Center. As he watched the day’s events play over a…

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Real Estate Trends
2009 April Sustainable South Bronx

 As a neighborhood, the South Bronx has struggled for nearly three decades under  the negative connotations of its name as a flash point for violent crime,  drugs, and unchecked urban decay. For many of those who live there, life is  bound…

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Q&A
2009 April Q&A: Buying Into Building with Low Reserves

Q My offer on a co-op was accepted and the co-op sent some of the financials to my attorney. I’m told that the building’s financials are “OK,” not terrific and not terrible. My attorney said that the reserves are $140,000 or approxima…

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