Many co-op and condo buildings rent out their ground-floor space to commercial tenants—retail shops, restaurants, grocery stores, doctor’s offices, and so forth. While the commercial/residential arrangement has many benefits on both side…
Insurance and Mold Litigation A Toxic Pill to Swallow By Alan R. Lyons and Mary Ellen Shuttleworth While panic and alarm are not warranted, the time is now for real estate owners, developers, lenders and borrowers to…
Every right-thinking homeowner knows that carrying the proper insurance is a vital part of owning a home. For most people, buying a home is the biggest financial investment they will ever make—especially in today’s high-priced market, an…
It’s important for cooperative corporations to have enough insurance to cover any unexpected problems that may arise, and one of the most crucial policies in any corporation’s insurance portfolio is directors and officers insurance, mo…
When it comes to insuring a co-op or condominium community, a belt-and-suspenders philosophy could prove the safest – and perhaps, most advantageous – choice. Getting that extra coverage means going beyond the basics of property and li…
As a financial professional who has served metropolitan New York's cooperative community for over 25 years, I must say that this is probably the most challenging time in recent history. Everywhere we turn, rapidly escalating costs coupled w…
Any transfer of ownership of a cooperative unit will require the cooperative corporation to cancel the old stock certificate and issue a new one. Many see this step as a simple clerical task, and often it is the managing agents that keep th…
Everybody complains about money. It doesn't matter if you're a millionaire or just getting by from paycheck to paycheck--everyone is on the lookout for money saving possibilities. The same holds true for co-op and condo owners and share…
While there's certainly no shortage of affluent co-op and condo buildings in New York City, it's a fact that a significant proportion of buildings are home to residents of more modest means--buildings for whom large capital improvement proj…
Today's economy is one, which has economists using words such as "perplexing" and "conundrum." Making predictions as to what the economy will do next week is difficult--trying to predict what will happen six months or a year down the road i…