There are two major aspects to any renovation project in a co-op–one is getting approval from the co-op board, the other is getting approval from the Building Department. Getting only one approval is not enough. In other words, just because…
Like a firm handshake or solid eye contact, certain things can turn first impressions into good impressions. For a building, the look of a lobby can make or break its reputation, both among residents and visitors. To catch an approving eye,…
As the clock ticked down on December 31, 1999, the world could not help but watch with at least a little trepidation. But when the ball dropped in Times Square and the new year officially arrived, nothing happened except a huge celebration.…
In many co-ops and condos it is the managing agent's responsibility to work with the board, superintendent and maintenance staff, vendors and other building professionals to create a safe and satisfying living environment for shareholders. …
Back in 1995 I barely knew what the Internet was. No one knew that it would do more than anything to change homebuying process since the classified ad. Our little website experiment called corcoran.com has grown bigger than The Corcoran Gro…
New York City is in a constant state of flux. At no time was this better illustrated than during the recent New Year’s Eve celebrations. Photographs of Times Square celebrations past were constantly flashed across television screens, but wh…
So, it’s the holiday season again and everyone is feeling generous, even you. You seem to have gotten past your Scrooge-stage and feel like splurging on someone else for a change. You don’t mind going the extra mile for your neighbor or run…
Nearly 100 percent of New York City co-ops have an underlying mortgage of anywhere from a few thousand dollars to millions of dollars. If you own a co-op, having an additional multi-million dollar mortgage hanging over your head might sound…
The board of a co-op is required to perform an ongoing balancing act, weighing both the needs of the individual shareholders and the good of the whole. Nowhere is this more apparent than the controversial issue of subletting. While owners f…
To paraphrase Sy Syms, "an educated board member is a lender’s best borrower!" That concept underlies all of the articles I have written about co-op financing. Since my last article for The Cooperator ("Dial ‘M’ for Mortgage," December/Janu…