Advice for New Board Members Wise Words From Legal Pros

By Cooperator Studio 2017 February Board Member 101

Legal pros give some sage advice to new board members

Being elected or appointed to one's co-op or condo board is a big responsibility; these industry professionals have a few words of advice for those just embarking on the journey.

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News

11/7/2025 NYC landlord sues developer of nearby condo for $2.8M due to damages that displaced tenants for 2.5 years - NY Post

Don’t call it a block party. Roughly three years before a lavish penthouse at 16 Fifth Ave. recently listed for a breathtaking $45 million, construction kicked off at the luxury condominium where it’s housed. During the time in between, the high-end development deeply rankled a group of locals who live down the block. Not only were they displaced for more than two years due to damages to their own building from the nearby work, but the condo’s developer paid only to put them up briefly in a hotel after they were forced to flee.
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11/5/2025 How A$AP Rocky’s $11M NYC Condo Allegedly Turned Into an ‘Uninhabitable’ Nightmare for Neighbors— Who Just Sued - The Root

Rapper A$AP Rocky was seemingly having the best week ever. He just received the coveted Fashion Icon Award at the 2025 CFDA Fashion Awards on Monday (Nov. 3), and his heartfelt comments for his partner Rihanna during his acceptance speech went viral. But his week turned sour after his New York City neighbor accused him of being less than neighborly… and causing massive damage to their unit.
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11/3/2025 An $85M NYC penthouse atop a former parking garage could set a new downtown price record - NY Post

The top of this century-old parking garage is looking for an $85 million buyer. The forthcoming penthouse pad sits atop 125 Perry St., Mansion Global reported. And if it sells for that sum, it could break the record for the most expensive ever sold in downtown Manhattan.
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10/27/2025 The tradition behind why so many NYC buildings are missing this floor - NY Post

Superstition may be irrational — but in New York City, it’s a bit of a tradition. Just ask Bravo titan Andy Cohen, who recently handed over the keys to his West Village duplex for $10.5 million.
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10/24/2025 Six UES Buildings Set for Demolition as Chinese Mega-Developer Plans New Luxury Condo - East Side Feed

Chinese real estate developer Zhang Xin is expanding her U.S. portfolio with plans for a new luxury condominium development on the Upper East Side.
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10/21/2025 Billionaires' Row skyscraper where J-Lo and A-Rod lived is covered in CRACKS and could be abandoned after developers insisted on white concrete facade - Daily Mail

Its bizarre proportions rise unnervingly for 102 floors above New York City's toniest streets. And now building safety experts say there is good reason to be unsettled by 432 Park Avenue, a super-tall but ultra-skinny condo tower filled with 125 apartments on Manhattan's 'Billionaires' Row.'
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10/17/2025 How Do New York City Property Taxes Work in Condos and Co-Ops? - Mansion Global

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q. I'm new to New York City. How do property taxes work in condos and co-ops, as opposed to a standalone house elsewhere in the country?
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10/14/2025 An iconic NYC landmark is becoming an apartment building — with records revealing luxury perks - NY Post

The Flatiron Building is certainly one of New York City’s most recognizable landmarks — but information regarding its highly anticipated condominium conversion has been kept far from the public eye. Now, however, some details on the hush-hush development are coming to light.
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10/7/2025 Explosion causes collapse at NYCHA Bronx apartment building - ABC News

There were no reports of injuries after an explosion in the Bronx caused a partial collapse of a high-rise apartment building on Wednesday morning. It happened at NYCHA's Mitchel Houses on Alexander Avenue in the Mott Haven section just after 8 a.m.
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10/6/2025 Manhattan’s luxury housing market is booming and bucking national trends — but for how long? - New York Post

While luxury housing markets from Dallas to Miami are struggling to keep pace, Manhattan’s high-end sector is one of the few bright spots. Sales of the borough’s priciest homes surged in the third quarter, even as nationwide numbers slid to their weakest summer in more than a decade. Yet a slowdown in the month of September — and the looming uncertainty of New York’s mayoral race — suggests the city’s luxury surge may not be on unshakable ground.
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10/3/2025 Flatiron Building condos will have enormous great rooms, unique layouts, and prices from $10.95M - 6sqft

More details have been revealed for one of New York City’s most anticipated new developments. The Flatiron Building at 175 Fifth Avenue is being converted to condominiums after over a century as a commercial property. With the offering plan officially accepted by the New York State Attorney General’s office last month, new information on prices, floor plans, and amenity spaces is now public. In the offering, apartments at the 22-story landmarked Beaux-Arts tower start at $10,950,000 for a three-bedroom, with the most expensive listed at $50 million for a five-bedroom.
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9/30/2025 $19.75 Million Central Park Condo in World’s Skinniest Skyscraper Tops NYC Luxury Sales - Realtor.com

The top residential sale in Manhattan last week is in the world's skinniest skyscraper, The Steinway Tower on Billionaires Row.
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9/29/2025 Entertainment lawyer for Madonna, Live Nation lists Plaza condo for $48M - Crain's

An entertainment lawyer who has worked with Madonna, Michael Bolton and Men at Work is looking to hit a high note in selling his Plaza District apartment.
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9/25/2025 Can condo conversions be a good pathway to homeownership? - New York Amsterdam News

In New York City, buying a home is a daunting process. There are down payments, negotiations, inspections, unexpected fees, closing costs, and much more, and that’s in the midst of simply trying to find a home in one of the most expensive housing regions in the world. But condominium conversions have emerged as an option for renters that could be a promising solution to maintaining affordable housing stock in the midst of a housing crisis.
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9/22/2025 Every condo at this former Central NY school comes with a perk: a $200K state subsidy - Syracuse.com

The 21 brand new condominiums that just went up for sale at the former St. Matthew’s School in East Syracuse come with unusually low prices — from $136,433 to $164,688.
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9/15/2025 The New York neighborhoods with the smallest (& largest) condos - AOL

While NYC condos have a median size of 921 square feet, at the neighborhood level, median sizes range between 631 and 2,045 square feet.
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9/11/2025 Elad Group details condo conversion plans for Midtown South office building - New York Business Journal

A century-old structure in the heart of New York City is getting a new lease on life, as plans emerge to convert its office spaces into more than 100 condominiums.
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9/9/2025 $22 Million New York City Condo Tops Most Expensive Sale of the Week and It Comes With Daily Catered Breakfast - Realtor.com

Luxury can bring along perks, and the most expensive condominium sold in New York City for the week ending Sept. 7 comes with daily catered breakfast. The condo at 111 West 57th Street was listed for $22 million, reduced from the original $27.5 million price tag when the building started marketing floor plans in June 2016, according to the Olshan Luxury Market Report.
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9/4/2025 Dylan Dreyer re-lists NYC condo with $500k reduction weeks after split from husband - Hello!

Dylan Dreyer and her husband, Brian Fichera, appear to be at odds over the fate of their $2.5 million New York City home amid their ongoing separation. The former couple first listed the property in January, signaling their impending split. However, reports indicate that the TODAY Show star temporarily pulled the home off the market last month, despite the divorce moving forward. Now, just weeks later, the property is back on the market – this time with a significant $500,000 price cut, bringing the new asking price to $1.99 million.
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9/2/2025 Inside Taylor Swift’s Multimillion-Dollar Real Estate Empire - Elle Decor

Taylor Swift may be best known for her impressive music career, though with eight homes across four states, she may be adding “real estate mogul” to her repertoire pretty soon. The 35-year-old pop megastar—who recently completed her record-breaking Eras tour—is worth an estimated $1.1 billion, according to Forbes, $150 million of which she has invested in real estate.
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