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With any sort of multifamily housing arrangement comes the possibility of a certain amount of conflict between the various involved parties: shareholders, board members, management, and sponsors. In theory, a key role of a board of directo…
Even though subletting is often frowned upon by boards and sometimes forbidden outright, that doesn't stop shareholders all over the city from renting out their co-ops. Shareholders may sublet as a means of making money on an apartment tha…
Serving on a co-op board or condo association certainly has its advantages. Not only does the position give shareholders a chance to have more say in how their community is run, it helps add to their knowledge and understanding of what goe…
Of all the members of a co-op building's board, the treasurer is in a unique position to uphold the fiduciary responsibility of the corporation, similar to that of a chief financial officer in the corporate world. Basically, "the tre…
Most of the time, "communication" and "openness" are watchwords for boards and management. Clear, transparent communication between boards, managing agents, and shareholder/owners should be right up there with "location, location, location"…
Every five years, the boards of co-ops and condominiums are forced by law to consider how to execute repairs to their exterior facades. Unless there is a known dangerous condition, not too many buildings consider the issue well in advance …
The environmental benefits of "green" buildings have never been questioned. The reduced intake of resources and the reduced output of waste accomplished through environmentally sensitive building reduce the negative environment impact of …
When describing Gramercy Park to someone who's never been there, certain words immediately spring to mind. Historic, posh, and elegant would be good words to start with. "Star-studded" and "exclusive" might be useful, too. For the …
Since my column in June of this year, there have been some significant cooperative and condominium cases that have been given little publicity. The most interesting case, may be the West Gate House case which brings the infamous Jennifer R…
Among the thousands of multifamily buildings in the metro New York area, it is a consistent lack of intelligent maintenance practices that prevent buildings from attaining high performance and energy efficiency. While expensive inves…