Bad economic news is pretty much inescapable these days. You can’t turn on the TV without hearing about another round of layoffs or plummeting consumer confidence. The stock market is a roller coaster, retirement funds are shedding valu…
Mayor Bill de Blasio says that New York has “a crisis of affordability.” According to the mayor’s ten-year housing plan, his administration is committed to “build or preserve nearly 200,000 affordable units” throughout the five boroughs. M…
What is a conservation easement? What are the tax advantages to a conservation easement? Can a condo or co-op vote to place a conservation easement? —Curious in New York “An easement is a transfer of usage rights. Simply…
The late 1990s saw a surge of nationwide smoking restrictions put into effect. State by state, legislation banning smoking in various settings was proposed and passed into law. With varying amounts of resistance and controversy, workpl…
They say there are eight million stories in the naked city, and when you’re an attorney working for a co-op or condo in New York, you may find that some of the best of them are happening to you. While some may think that handli…
Sometimes our neighbors can be our best friends. They’re the people we turn to for emergency babysitting help, or for a cup of sugar, or for that friendly chat in the elevator. Sometimes, though, the people we live in close proximity to…
When it comes to board members pushing their own pet projects, stalling meetings, and generally gumming up their building’s administrative works for selfish reasons, Chris Ebert, senior property manager of Downtown Properties in Manhatt…
In the best of circumstances, qualifying an applicant for a co-op or condominium purchase can be a challenging process. Market conditions play a part in a board's consideration of applicants, and recent fluctuations have changed the wa…
Almost any veteran property manager can tell tales of buildings that have fallen on rough times thanks to the economic meltdown of the last few years. Some have been beset by multiple unit foreclosures, others are dealing with defaultin…
In managing the affairs of a building or a community, all board members are far from equal in their abilities and skills. Some bring experience in construction or a background in law, finance, or other professions that can be helpful to…
Lawsuits are an unfortunate, expensive fact of life these days—chances are that at some point in your lifetime you’ll be involved in one to at least some degree. In you live in a co-op or condo community, legal issues arise between board…
Nothing worth doing is ever easy. That rule of thumb certainly applies when it comes to the creation of co-ops and condos. Whether constructing a new building or converting an existing one, it can be a tricky business. The person o…
Building a successful enterprise from the ground up involves the talent and commitment of dozens—if not hundreds—of people. It’s no different with a co-op or a condo, especially in the earliest days of its existence when it makes that t…
We all have nightmares. Whether it's hungry sharks nipping at our feet or shadowy figures lurking in the woods, there will always be things that wake us in the middle of the night. If you're a co-op or condo owner, manager or board membe…
The sitting president of a Connecticut condo board recently approached the property manager with a proposition: If he saw to it that her contractor boyfriend was awarded certain jobs in the building, the property manager would receive …
Talk about tense situations. There’s the sweaty-palm inducing job interview or the anxiety-riddled prospect of getting down on one knee to propose. And who can forget those tense moments scratching out an answer on the SAT test, knowing …
Admission requirements for co-op buildings in New York City are typically pretty stringent. A board has the authority to require prospective purchasers to provide extensive financial documentation along with social and personal reference le…
People like to think that they can do anything they darn well please within their own walls so long as no laws are being broken. Want to paint your walls purple and your ceilings green? Who’s gonna stop you? In the mood for loud music an…
Q. Hello, I am a shareholder of a two bedroom co-op. There are two occupants of the co-op unit under me. One goes to work, while the other individual is a malingerer. Neither is of the mindset “live and let live.” Neither has a problem wi…
Q. Today shareholders at our Mitchell-Lama co-op in Queens were informed with less than 24-hours notice that there will be a film shoot taking place tomorrow on the property from 6:00am Thursday and completed 12:00pm on Friday. Notice sta…