What are the Basic Steps of a Reserve Study? Planning Your Community's Future

By Cooperator Studio 7 July 2016 Finance

Industry professionals talk about capital planning and budgeting for your community.

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News

11/13/2024 What co-op and condo boards need to know about the federal Corporate Transparency Act - Brick Underground

Time is running out for New York City condo and co-op boards to comply with a federal law meant to target money laundering.
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11/11/2024 N.Y. Woman Transforms Her Ordinary Condo Unit into a Medieval Castle: 'My Dream Home' - People

One New York woman is currently residing in her "dream home" — a replica of a medieval Irish castle! "I always dreamed of living in an old, dark wooden church, or, of course, an actual castle, but there are none to be had, so I decided to build one," Chris McNamee tells PEOPLE exclusively of her condominium unit on Long Island.
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11/7/2024 Who Owns the Block: Historic hotel hopes hybrid model spurs comeback - Crain's

One of the many hotels to be wrecked by the pandemic is attempting a comeback with a nod to a neighbor and the past.
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11/4/2024 The creative ways NYC’s avid cyclists store their bikes in their apartments - Brick Underground

New York City apartments can be so cramped some residents have trouble even fitting a bed inside. Yet somehow, the city’s most dedicated cyclists find room to keep their bikes inside (yes, multiple bikes).
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10/31/2024 A $40.5 Million West Village Condo Led Manhattan Housing Market Last Week - Mansion Global

Manhattan’s luxury real-estate market is seeing an uptick in activity, with 26 contracts signed for homes priced at $4 million and above during the week ending Sunday, according to Monday’s report from Olshan Realty.
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10/29/2024 Qatar splurges on plush $9.8M Greenwich Village condo — in latest NYC real estate power move - NY Post

The deep-pocketed Qatari government has expanded its already vast NYC real estate portfolio with the acquisition of a $9.8 million condo in the heart of Greenwich Village. Located at 64 University Place, the luxurious 2,600-square-foot residence is a small but significant addition for the Middle Eastern nation, known for its substantial investments around Manhattan.
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10/24/2024 NYC Lost $6.5 Million to Incorrect Tax Breaks for Condos, Co-Ops - Bloomberg Tax

New York City’s Department of Finance improperly gave tax breaks to hundreds of condo and co-op owners that didn’t qualify for the benefits, according to a new audit by city Comptroller Brad Lander.
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10/23/2024 Rudy Giuliani Is Ordered To Hand Over $6.5 Million New York Apartment to Georgia Election Workers He Defamed - Realtor.com

Disgraced former attorney Rudy Giuliani has been ordered by a judge to hand over his $6.5 million Manhattan apartment to two Georgia election workers who successfully sued him for defamation. Giuliani, 80, who previously served as a lawyer for presidential candidate Donald Trump, has been instructed to turn over his New York City home and all of his valuable possessions to Ruby Freeman and Shaye Moss, to whom he owes $148 million in damages.
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10/22/2024 3 key reasons why the owner vs. renter ratio matters when buying a NYC condo or co-op - Brick Underground

If you’re looking to buy a New York City condo or co-op, you might find yourself unknowingly considering a building where investors own—but don’t occupy—many of the other units. But that means you and your attorney have a lot to consider before you sign on the dotted line.
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10/14/2024 Exclusive: Hugh Jackman Makes Second Attempt to Sell ‘Spectacular’ Triplex Condo for $39 Million—One Year After Shock Divorce - Realtor.com

Hugh Jackman is making a second attempt to sell his $38.9 million “masterpiece” New York City apartment, two years after his first attempt to offload the triplex property failed.
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10/11/2024 Insurance honcho unloads High Line condo for about what he paid - Crain's

A global insurance executive has left the High Line. The three-bedroom at the Zaha Hadid building traded for $7.8 million.
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10/8/2024 Loft for Sale in a New York Building That Featured in ‘The Devil Wears Prada’ - Mansion Global

This grand loft-style condo is in a SoHo building, on Crosby Street in New York, that had a starring role in the 2006 film “The Devil Wears Prada,” serving as the sexy downtown bachelor pad of the fictional designer James Holt.
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10/4/2024 Rudy Giuliani Cuts Nearly $1 Million off His New York Condo - Mansion Global

In a rush to offload his Manhattan home, Rudy Giuliani has dropped the asking price by nearly $1 million. The former New York mayor is at risk of losing the Upper East Side condo, among other assets, to settle a defamation lawsuit filed by two Georgia election workers.
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10/3/2024 Why Owning (and Buying) a Florida Condo Has ‘Turned Into a Nightmare’ - New York Times

Ten years ago, Howard and Sheila Konetz bought themselves a Florida dream: an 1,820-square-foot condo in a leafy gated community north of Miami, complete with access to a country club, tennis courts and swimming pools. The $478,500 purchase would usher them into blissful semiretirement, they thought. With enough cash in the bank, the couple didn’t need a mortgage and downsized from their house in Miami Beach.
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10/2/2024 Food Network chef selling NYC home in iconic building with ‘million-dollar view’ - NY Post

Food Network champ, TV personality and cookbook author Chef Priyanka Naik is listing her Kips Bay home for $1.35 million. The one-bedroom, one-bathroom corner unit is located at VU New York, a new construction luxury building featuring views of the Empire State and the Chrysler Buildings.
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9/27/2024 Warwick Hotels honcho snaps up a condo by Central Park - Crain's

Richard Chiu, who founded the hotel group in 1980 in Midtown, paid $17 million.
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9/26/2024 Reality TV star broker Fredrik Eklund snags $3.35M NYC condo: ‘This will be one of downtown’s ‘it’ buildings’ - NY Post

Reality television star and real-estate broker Fredrik Eklund has purchased a $3.35 million condo at 64 University Place, according to city Department of Finance records filed this week. The under-the-radar, new-construction building comes with 28 units and sold out, off market, sight unseen “pretty immediately,” said Eklund, a top broker with Douglas Elliman.
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9/25/2024 Midtown’s first FHA-eligible luxury condo hits market - Real Deal

The Perrie, Midtown Manhattan's first new-development condo eligible for FHA mortgages, welcomes buyers who can't put 20 percent down.
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9/23/2024 They tried to evict her emotional support parrots. She won $165,000. - Citizen's Voice

For almost 20 years, a group of parrots and their owner lived at the Rutherford, a co-op apartment building in the ritzy Gramercy Park neighborhood of Manhattan. For almost as many years, the neighbors complained.
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9/19/2024 NYC’s waterfront is transforming into luxury leisure space, one park and condo tower at a time - Fast Company

The construction fences recently went down around Domino Square, the final public space to be completed in the $2.5 billion transformation of the Domino Sugar Refinery into an 11-acre mixed-use neighborhood. Designed by Field Operations, Domino Square is a striking, oval-shaped plaza in the Brooklyn neighborhood of South Williamsburg that is surrounded by redbud trees, pin oaks, and two types of pines, plus white and lavender flowers that will eventually cascade down Cor-Ten steel planters.
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