2013 July
Focus on... Budget & Finance

 While natural disasters have impacted the United States for countless decades—from The Great San Francisco Earthquake of 1906 to 2005’s Hurricane Katrina—these catastrophic events are seemingly occurring with a more severe frequency.  For…

 While the vast majority of one-time projects and long-term service contracts  involving vendors and service providers and their co-op, condominium or HOA  clients go smoothly and either conclude or continue without incident, a small  perc…

 The foundation of any properly run condo association or co-op building rests on  residents paying their monthly maintenance fees on time and in full, with no  delays or delinquencies. However, in the wake of the recession, with many  shar…

 If you want to find out about the history of a town, region or country, head to  a museum or look it up on the Internet. If you want to find out about your  family’s history, look at your photo album, whether it’s in a book or online. And…

 Out of nowhere, someone is regularly using the parking space you have had for  years. And strangers are appearing regularly in your building’s hallways, though you’re not sure where they belong or if they should even be there. Strangely, …

 There are a number of things that make shareholders unhappy in a co-op or condo,  but chief among the complaints is when the board just doesn’t seem to hear their concerns or doesn’t do its duty to keep shareholders informed of board meet…

 It's a sad fact that the artisans and craftspeople who created some of the most  beautiful, distinctive interior and exterior architectural elements for New  York's residential buildings are an endangered species. The proliferation of  sl…

 While some affianced New York City couples insist on holding their weddings in  churches, synagogues or the Central Park boathouse, others opt to keep the  nuptials much closer to home—in some cases right down the hall, in the courtyard, …

 While a lot of the day-to-day business of running a co-op or condo building  happens in the management office or on-site at the level of maintenance and  staff management, meetings—board-only and resident alike—are the forum where importa…

 After nearly twelve years in office Mayor Michael R. Bloomberg is poised to  leave office on December 31st of this year. One of his last acts as mayor of  immediate and possible long-term impact is adoption of a final budget for the  upco…

 When you were a child, you probably tuned into the PBS show Mister Rogers  Neighborhood, where a homespun sweater-clad Fred Rogers often sang “Won’t you be my neighbor?”  Mr. Rogers might be singing a different tune today if he wer…

 While it remains under the radar, Inwood is a hidden gem that continues to  attract an increasing number of musicians, actors, artists and young  professionals in search of affordable housing and a vibe of being away from New  York City w…

Q I am currently interested in purchasing a co-op apartment. However, my mortgage  broker advised that since the co-op has issued both common and preferred stock,  that it does not technically qualify as a co-op under the IRS 216 ruling, …

Q “The current president has mailed proxies to owners indicating he would vote on  their behalf and included information that stated “the proxy-holder will cast votes as he/she determines” for the annual board election. The current presid…