Page 8 - New York Cooperator July 2020

8 THE COOPERATOR — JULY 2020 COOPERATOR.COM Providing a Full Range of Architectural & Engineering Services In-house professional expertise in: Exterior Restoration & Historic Preservation Construction Inspection Alteration Review Architectural Design Engineering: n Mechanica l n Electrical n Plumbing n Structural Energy Audits Forensic Investigation Façade Safety Inspection Program Reporting Green Design – LEED Professionals Client satisfaction assured by the active daily involvement of the firm’s principals www.lawlessmangione.com info@lawlessmangione.com 914.423.8844 THANK YOU 156 West 56th Street, 6 Floor | New York, NY 10019 | (212) 247-2603 th Orsidny.com Essential Adjective: 1. absolutely necessary; extremely important Noun: 2. a person or thing that is absolutely necessary Always “Essential”… Never More Appreciated. Orsid New York would like to express its gratitude and appreciation to all of the building service employees who are, by definition, “essential” and who have so selflessly served the communities we manage. Because of them, and all of the other courageous front-line workers, New York City has remained strong and is beginning to emerge from the COVID-19 crisis. While our hearts and thoughts go out to those who succumbed to this horrible illness, it is important to recognize that “in this together” is not just a catch phrase. It is quite literally the ideology (along with the patience and cooperation of our residents and Boards) that has paved the way to begin reopening what has been called “The Greatest City on Earth.” / ’sen(t)SH l/ General from enforcing its prohibition on shareholder and at the commercial tenant lev- certain debt collection activities during the el: First, how critical is their current cash fl ow COVID-19 State of Emergency. Th e deci- sion found that the AG’s 90-day moratorium problem may become if they evict owners, on debt collections activities was a violation shareholders, or commercial tenants? And of the First Amendment Rights of collec- tion agencies, without providing meaningful munity to be understanding about the depth protections for consumers. We previously and impact of the COVID crisis on owners, advised our Massachusetts clients to refrain shareholders, and commercial tenants? It’s from initiating collections procedures during up to boards and their legal advisors to de- this moratorium. We now advise our Massa- chusetts clients, particularly creditors, condo- minium associations, and property managers, ligation, and what liability could result from on the activities that are permissible due to either decision. the new court injunction. “Issued and made eff ective on March 26,” Goldman continues, “\\\\\\\[Regulation\\\\\\\] 940 CMR 35.00, known as ‘Unfair and Deceptive Debt Collection Practices During the State of Emergency Caused by COVID-19,’ sought to protect consumers from unfair and decep- tive debt collection practices by prohibiting various collections activities such as initiating phone calls, draft ing demand letters, and ini- tiating lawsuits to debtors during the corona- virus pandemic.” Specifi cally, the Regulation established that it was an unfair or deceptive act or practice for any creditor, including a debt collector, to: • Initiate, fi le, or threaten to fi le any new collection lawsuit; • Initiate or threaten to initiate any legal or equitable remedy for the garnishment, sei- zure, attachment, withholding of wages, earn- ings, property, or funds for the payment of a debt to a creditor; • Initiate or threaten to initiate remedy for the repossession of any vehicle; • Apply for, cause to be served, or enforce a capias warrant; • Visit or threaten to visit the household or place of employment of a debtor at any time; and • Confront or communicate in person with a debtor regarding the collection of debt in public. “Th e eff ect of the temporary injunction on the Regulation is that standard debt col- lection practices may now resume,” explains Goldman, “including initiating phone calls to discuss payment options, draft ing demand letters, and preparing and fi ling lawsuits to collect unpaid debt. Creditors are no longer restricted within the 90-day moratorium on initiating their normal collection activities. Condominium associations, property man- agers, and all other creditors are now permit- ted to resume their debt collection commu- nications with unit owners and other debtors, with demand letters and initiating legal com- plaints to obtain unpaid common area charg- es and other unpaid debts. “So,” he says, “continue to remind unit owners that condominium fees and costs are essential for the maintenance and support of the entire community, and that lien enforce- ment actions will proceed if delinquencies are not resolved promptly.” Overall, boards must consider two factors when deciding whether to pursue aggressive tactics against arrearages, both at the owner/ problem relative to how bad that long-term second, what is their obligation to their com- termine whether community cohesion and prudent compassion trump real fi nancial ob- n A J Sidransky is a staff writer/reporter for Th e Cooperator, and a published novelist. and theaters every night, making it the hot- bed of cuisine, culture, and entertainment that it is. But what if nothing’s open? Or the experience of sitting in a restaurant or theater is stressful? What if great New York pastimes like window shopping or rambling through Central Park are now anxiety- provoking?” New Yorkers are oft en quick to counter complaints about the cost and hassle of living here with examples of all the amazing things one can do and see here, and nowhere else. But, says Eisenbach, “With all the frustrations and expenses of living in New York City, what happens if there are no perks?” Eisenbach points out that a big test of the durability of urban lifestyle will be whether schools can reopen in September. “No deci- sion has been made,” he says, “but it’s not looking good. If offi ces and schools aren’t open, or if your offi ce allows telecommut- ing, there isn’t much need to live in New York City.” And if that’s the case, a major re- shuffl ing of residential properties may be on the near horizon. The Possibility of a Rebound Alternatively, “Th e default assumption by most is \\\\\\\[that the pandemic will have\\\\\\\] a negative impact,” says Jonathan Miller, prin- cipal of Miller Samuel, a national real es- tate appraisal and advisory fi rm located in Manhattan, “but there is literally a shortage of empirical evidence for that assumption— and until the New York brokerage commu- nity is allowed to physically show property, we won’t have that evidence. I suspect there will be a surge of contracts at that moment, and from that point on, we will see price dis- covery.” Miller does report, though, that “\\\\\\\[s\\\\\\\]ince we are in the middle of a global pandemic and are overwhelmed with uncertainty, there is already more outbound migration in the ‘city-to-suburban’ narrative.” Many city- dwellers with second homes have become COVID-19 refugees, fl eeing the city for THE PRICE IS RIGHT... continued from page 1 COPING... continued from page 2