Category: Building Operations

Imagine this. Your contractor has finally completed the renovations to your bathroom - taking three months rather than the three weeks he promised. The wallpaper, special order wall and flooring tile match perfectly, and although you excee…

There was a time not long ago when New Yorkers could throw just about anything away and not give it a second thought. But in the late 1980s, the federal government enacted strong environmental legislation, including the closure of many land…

If you had to name the single most valuable individual to your co-op or condo, who would it be? Certainly, your board president, managing agent, corporate counsel and accountant are key players. But boards and residents should never underes…

There are countless war stories told by real estate brokers of deals that fell apart because the buyer felt that the building's financial statement contained negative information. There is no question that it is essential to review the fina…

Could your building use a facelift? Have you contemplated better-fitting windows, new carpet or an updated elevator, but the board's answer was always "There's not enough cash." From renovation and moving fees to renting out roof or basemen…

Professional residential management is a service industry, and some service providers perform better than others. To evaluate how your property's management measures up, it's necessary to assess both how the company functions as a whole …

Last summer, a financially beleaguered 47-unit cooperative at 30 West 90th Street in Manhattan made news when it converted to condominium status. That was not the first time a co-op converted to condo. A Teaneck, New Jersey co-op underwent …

Cost of living increases can be felt everywhere, from the theatre to the supermarket to the gas station. So it may come as a surprise to many co-op and condo residents that one place you don't have to expect an increase is in your monthly m…

When cable television became widespread in New York City around 1980, it revolutionized the way we watch TV by bringing a dizzying selection of programming to our living rooms. With seemingly endless choices, the terms "couch potato" and "c…

Thinking about your co-op or condo as a financial entity doesn't produce the same warm feeling as thinking about it as a home; but the fact remains that it is a financial entity in which you and your fellow shareholders or unit owners hav…