Do you sit on the board of your condo or co-op? If you do, are you sure that you and your personal assets are adequately protected when the board of directors and the association are sued? Most of us want to do the right thing, and ma…
There is power in numbers, as the old saying goes - and that goes double for co-ops and condo buildings that are pooling their collective resources to reduce insurance costs under an umbrella known as a Risk Purchasing Group. The idea…
Their towers and turrets loom over the treetops on Central Park's west side, casting long shadows over joggers, sunbathers, and dog walkers in the park below. They're some of the most impressive, most historically significant apartment buil…
The earliest apartments in New York City contained most of the elements of a private house, though often assembled in a manner far from functional. Service spaces in particular were seldom arranged or designed to save the time and energy o…
For building boards, management companies, shareholders, and unit owners, the issue of insurance often becomes complicated: how much insurance - and of what kind - does one's building, or even a shareholder/tenant, need? Is there such a th…
General Liability Coverage for an insured's negligent acts or omissions that cause personal or bodily injury to another person or damage to another's property. As loss ratios climb and new legislation like sidewalk liability and lead p…
A lot of factors go into determining the extent and cost of a building's insurance coverage: replacement cost, location, number of units, and claims history top of the list, but on closer inspection, there are plenty of ways to better posi…
With New York City rebounding from a sluggish economy and resulting budget deficit, Mayor Michael R. Bloomberg reached a budget agreement with the City Council that includes a $400 dollar property tax refund to city homeowners, who bore the…
"¢ Borrower must be age 62 or older "¢ No monthly payment is required "¢ Must obtain co-op board approval in most cases "¢ Proceeds can be used for any purpose "¢ No financial reports, credit history or medical reports …
The primary function of a board of a co-op or condo is to operate, maintain, repair and preserve the common property. The board also has a responsibility to maintain the value of the property. Most boards develop an annual operating b…