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Perhaps one of the most difficult aspects of the recent recession was the sudden evaporation of credit from major banks and lending institutions. The logic behind it was understandable: too much easy credit had led, in part, to the col…
Tsunamis, earthquakes, tornadoes—these are just a few of the devastating disasters that have made headlines already in 2011 and the emergency situations that resulted many never thought possible. As the past year’s calamitous …
The day-to-day costs of running a multifamily residential building are significant. There’s the fuel oil, electric, cleaning supplies, equipment maintenance and service calls for repair and upkeep. Then there are the insurance costs, la…
As the recession has lingered on since 2008, co-op and condo buildings throughout the city—from luxurious downtown buildings to middle-income and lower-income walkups—have found more of their residents in arrears with their monthly fees.…
During the real estate boom of the last decades, many new condo buildings used to use extravagant amenities as a tool for new buyers. Marble-top counters, exercise rooms, Jacuzzis, free cars for buyers, childrens' playrooms, computer lo…
Owners of New York City co-ops or condos with parking garages in or adjacent to their building are blessed in so many ways. The ability to drive right into your building without the aggravation of hunting down a parking spot provides a …
No matter if they're overseeing a towering high-rise or a sprawling suburban association, co-op and condo boards usually have their fair share of problems to be solved and emergencies to be defused. Talk to enough people who have dealt…
Imagine a quiet oceanfront community with powdery, white sand beaches, wonderful restaurants, a thriving cultural scene, and all of this less than an hour away from Midtown New York City. Look no further than Long Beach. Long …
Q My question is, since Co-op City (in the Bronx) determines carrying charges based on household income, if there's a change in the household income whereby one of the occupants is unemployed shouldn't there be a downward modificatio…
Q We have a president in a cooperative building that has secret meetings and does everything possible to force his ideas on the membership. He is seemingly vindictive and tells owners if they don’t like it they can move. What can we d…
Q Can the person running for a board position make his own proxy ballot and cast votes for other people? —Electorally Concerned A “The simple answer to both of these questions is likely yes!” says attorney Marc H. Sch…
Earlier this year, Mayor Michael R. Bloomberg presented his Fiscal Year (FY) 2012 Executive Budget and an updated four-year financial plan. The mayor outlined the plan, which costs $64.7 billion and would balance the budget with a clai…