Category: Building Operations

The key to proper financial management of a co-op begins with the presence of a strategic plan. This plan should include, at a minimum, a projection of necessary capital improvements; and a forecast of revenue and expenses over a ch…

 Following the nationwide mortgage crisis, there is a lot of concern across the  country about communities being faced with the prospect of foreclosure. Many  states have enacted legislation relating to how to handle properties in  arrears…

 Consider the following all-too-common scenario: your condominium association has  one delinquent unit owner who owes three months of common charges totaling  $915.00 before late fees. Statements have been sent without response, and  telep…

Phone hacking. Password hijacking. Virtual identity theft. With new technology comes new challenges, and online security threats are chief among them. When it comes to protecting and insuring the privacy of one's residents, it's impera…

 Two research and development projects are currently underway in Manhattan where  the New York State Energy Research and Development Authority (NYSERDA), the  state agency that promotes energy efficiency, is supporting the development and …

 Most boards of co-ops and condominiums spend a lot of time negotiating the terms  of their contracts with general contractors; however, it is often  subcontractors who do most of the work. Sometimes the Boards are not even aware  of how m…

 So, did your building comply with the new benchmarking requirements that were a  part of Mayor Michael R. Bloomberg’s Greener, Greater Buildings Plan? Local Law 84, new legislation passed in 2009,  required all of the city’s private build…

 If it weren't for the man-made boundaries, Bayside, situated on the northeastern  edge of Queens, could be considered a Long Island town. Its manicured lawns;  sometimes tasteful, sometimes gaudy home design; and the profusion of white  k…

 The concept of 'greening' has become so firmly entrenched in our national  discourse over the last few years, it's hard to imagine a time when recycling,  clean energy, and reducing our carbon footprint were novel ideas with just a  few v…

 Most cooperatives and condominiums in New York City traditionally own both the  building and the land around it. There is, however, a real estate scenario  where the cooperative (and in rare instances, the condominium) owns the  building,…