Page 18 - The NY Cooperator August 2019

18 THE COOPERATOR —AUGUST 2019 COOPERATOR.COM Disclaimer: Th e answers provided in this Q&A column are of a general nature and cannot substitute for professional advice regarding your specifi c circumstances. Always seek the advice of competent legal counsel or other qualifi ed profes- sionals with any questions you may have regard- ing technical or legal issues. BACK OFFICE SERVICES THE BACK OFFICE, Inc. (212) 889-1824 For self-managed Co-ops, Condos , Property Managers Billing •Payables •Collections •General Ledger Budgets•Delinquencies•Monthly Financials WE DO IT ALL FOR YOU 469 Seventh Ave., New York, NY 10018 Steven@TBO-NY.com 110 E. 42nd Street, 17th Floor New York, New York 10017 Robert J. Braverman, Scott S. Greenspun (212) 682- 2900 www.braverlaw.net rbraverman@braverlaw.net sgreenspun@braverlaw.net Braverman Greenspun, P.C. Tane Waterman & Wurtzel, P.C. All aspects of Co-op & Condo Representation including Litigation 120 Broadway, NY, NY 10271 (212) 766-4000 e-mail: swurtzel@tww.nyc • www.tww.nyc ATTORNEYS Abrams Garfi nkel Margolis Bergson, LLP 1430 Broadway, 17th Floor, New York, NY 10018 212-201-1170 • www.agmblaw.com Barry G. Margolis, Esq. • Robert J. Bergson, Esq. Himmelfarb & Sher, LLP • (914) 682-0040 Cooperative and Condominium Law—Real Estate Closings One North Broadway, Suite 800, White Plains, NY 10601 Contact: Ronald A. Sher, Esq. • Norman D. Himmelfarb, Esq. Law@himmelfarb-sher.com • Direct Dial: 914-461-0220 Belkin Burden Wenig & Goldman, LLP Specializing in all aspects of Cooperative and Condominium Law including Landlord/tenant proceedings. Copy of Monthly Newsletter available upon request. (212) 867-4466 contact: Aaron Shmulewitz/Daniel Altman ashmulewitz@bbwg.com/daltman@bbwg.com www.bbwg.com Wagner, Berkow & Brandt, LLP. wagnerberkow-public.sharepoint.com 462 7th Avenue, 6th Fl, New York, NY •646-780-7272 •Commercial, Corporate and Real Estate Litigation •Real Estate Leases and Landlord-Tenant Disputes •Residential and Commercial Real Estate •Refi nancing and Mortgage Workouts •Bankruptcy Proceedings • Corporate, Commercial and Business Law •Hospitality Law •Internet Defamation •Loft Law Matters Contact: Steven R. Wagner •srwagner@wagnerberkow.com M ARCUS OSENBERG R D IAMOND LLP Three decades of Co-op & Condo representation 488 Madison Avenue New York, New York 10022 212.755.7500 www. mrdllp .com M ARCUS OSENBERG R & D IAMOND LLP A full service real estate law firm serving the cooperative and condominium community Eric M. Goidel, Esq. egoidel@borahgoldstein.com (212)431-1300, Ext.438 Manhattan: 377 Broadway l New York, NY 10036│(212) 431-1300 Queens: 108-18 Queens Blvd│Forest Hills, NY 11375│(718) 263-6611 www.borahgoldstein.com SERVICE DIRECTORY Helping your Board with legal issues Answering Questions - Solving Problems Cooperative and Condominium Law Residential - Commercial Real Estate We Listen. We Navigate. We Advocate. One North Broadway-Suite 800 White Plains, NY 10601 email: law@himmelfarb-sher.com website: www.himmelfarb-sher.com Contact: Ronald A. Sher, Esq., Norman D. Himmelfarb, Esq. Tel: (914) 682-0040 Direct Dial: (914) 461-0220 Condata Accounting and Consulting LLC Provide back office services for self-managed Co-ops, Condos, Property Managers • Account Receivables • Payables • Collections • Budgets • Monthly Financials PREP FOR BOARD MEETINGS 150 Broadway, Suite 1710, NY 10038 (212) 233-1460 info@condataaccounting.com ACCOUNTANTS ARCHITECTS architecture interior design engineering project management forensic investigations 307 7th Avenue, Suite 1001, New York, NY 10001 Tel. 212.645.3775 Fax. 212.645.4099 Form Space Image ARCHITECTURE PC  Over 30 years of coop & condo experience  Hands on Personal Attention Timely Service  Contact: Gary Adler, CPA Sarah Haar CPA   www.bassandlemer.com 516-485-9600 adler@basslemer.com Ad for “Architects” 511 Canal Street #302 New York, NY 10013 FISP Reports • Specs • Plans • Construction Admin Façade Repair • Roofing & Window Replacement Condition Assessment • Green Roof Design Tel: 212 274 0056 Email: ds@IVANBRICE.com Ad for “Consulting Engineers” 511 Canal Street #302 New York, NY 10013 Façade Repair • Roofing & Window Replacement Condition Assessment • Green Roof Design Interior Renovation • Code Review • LPC Filing Tel: 212 274 0056 Email: ds@IVANBRICE.com Ad for “Architects” 511 Canal Street #302 New York, NY 10013 FISP Reports • Specs • Plans • Construction Admin Façade Repair • Roofing & Window Replacement Condition Assessment • Green Roof Design Tel: 212 274 0056 Email: ds@IVANBRICE.com Ad for “Consulting Engineers” 511 Canal Street #302 New York, NY 10013 Façade Repair • Roofing & Window Replacement Condition Assessment • Green Roof Design Interior Renovation • Code Review • LPC Filing Tel: 212 274 0056 Email: ds@IVANBRICE.com CONSULTING ENGINEERS CHIFFERT Architectural Engineering & Construction Services MARC@AECENGINEERINGDESIGN.COM • 917-656-9166 Property Conditions • Renovations • M/E/P/Struct CPA SERVICES Cavalcante & Company, LLC 212-675-6773 • www.cavalcantecpa.com Providing Auditing and Tax Services to NYC Cooperatives & Condominium Associations Jayson Prisand, CPA | Robert A. Mellina, CPA jprisand@pmucpa.com | rmellina@pmucpa.com 516-348-7800 www.pmucpa.com Prisand, Mellina, Unterlack & Co., LLP ELECTIONS Honest Ballot • (718) 279-8683 condos, co-ops, associations, unions, lotteries, online voting/electronic voting machine HONEST BALLOT HAS LONGEVITY WITH OVER 100 YEARS OF EXPERIENCE honestballot@aol.com • www.honestballot.com Specializing in audit services to the NY Co-op & Condo Community Darren Newman, CPA • 516-364-0700 dnewman@nnkllp.com • www.nnkllp.com Newman, Newman & Kaufman, LLP Marin & Montanye LLP Serving the NYC Coop/Condo Community for over 50 years RICHARD MONTANYE, CPA www. marinmontanye.com (516) 625-3700 •(212) 476-5214 • (718) 347-8600 rmontanye@marinmontanye.com Sax LLP • (212) 661-8640 551 Madison Ave.,12th Floor, New York, NY 10022 Providing audit and tax preparation services Contact: Cliff ord Romain, CPA 147 Prince St, Bk, NY 11201 (718) 489-9579 cliff ord@romaincpa.com ROMAIN CPA, LLC ENGINEERING & ARCHITECTURE, DPC 212-675-8844 randpc.com info@randpc.com Facades & Roofing•Architectural Design Mechanical/Electrical/Plumbing•Energy Audits Structural •Building Surveys•Plan Reviews Schneider Buchel LLP Representation of Cooperatives, Condominiums and Homeowners Associations Contact: Marc H. Schneider, ESQ. Offi ces located in Long Island and NYC 516-393-5555 • 212-485-9400 www.schneiderbuchel.com KAGAN LUBIC LEPPER FINKELSTEIN & GOLD, LLP Providing Practical Legal Advice and Representation to Cooperative & Condominium Associations 200 Madison Ave., NY, NY 10016 • 212-252-0300 Jack E. Lepper • Ronald J. Gold • Adam D. Finkelstein www.kll-law.com DOORS & GATES Since 1955 Design, fabricate, install and service Custom Iron work, doors and gates sales@citygatesusa.com ably an attempt to show the level of interest in the space and that the proposed agreement with the board member is commercially rea- sonable. “Assuming the board got several bids from shareholders at about the same price the board member was going to pay, they would use that as evidence to demonstrate that the deal was not adverse to the fi nancial interest of the cooperative. It would be helpful if the board also obtained such information from third parties and brokers with no relation to the building. “Most bylaws require only a single annual meeting of shareholders, and it is not unusual for a board to meet with shareholders only once a year. While of course there is much to be gained through more frequent com- munications with shareholders, the relevant legal obligation is whether the board has met the minimum requirements which is to hold an annual meeting. Further, most bylaws and proprietary leases require the board to distribute annual fi nancial statements to the shareholders. It would not be a proper justi- fi cation to not distribute fi nancial statements as a cost-savings measure (unless of course there was suffi cient shareholder support for a proposition to amend the lease or by law pro- vision regarding fi nancials). “Lastly, as to the purported $10,000 bo- nuses to the managing agent, while the board generally has the discretion to award a bo- nus if it sees fi t and deems appropriate, not enough information is provided to opine as to whether the particular bonus complained about is improper (or even whether it is truly Q&A continued from page 17 Development Queens Condo Project Stalled Over Historic Burial Ground Eff orts to build a condominium building on an empty lot in Elmhurst, Queens, have been hamstrung due to a unique situation: the lot contains an historic African-American burial ground where some 300 people were laid to rest, Th e Real Deal reported, citing a previ- ous New York Times story. Under an architec- tural restriction, any development of the lot requires the consultation of the St. Mark African Methodist Episcopal Church. Th e religious group has not signed off on a proposed bid from the lot’s owner, 90 Queens Inc., to build a condo on the site. At the moment, the vacant lot has been listed for $13.8 million. Th e church had long wanted a buyer to preserve the site rather than develop it. n PULSE continued from page 4