For many co-op and condominium buildings in New York, making necessary repairs under the City’s many local laws requires cooperation from neighboring - often physically adjacent - buildings. You may need access to your neighbor’s roof, or a…
Every so often a scenario comes along in the otherwise fairly predictable world of New York co-ops that has the potential to upend long-standing norms. That may be the case for Carnegie House, a ground lease co-op at the corner of West 57 …
While experts predict an improvement in mortgage markets and builder outlook for the U.S. housing market in 2024, the number of new communities and existing home sales will be subject to a series of domestic and international issues. The ge…
After the deadly collapse of a parking garage building in lower Manhattan last year, the City of New York moved to prevent similar tragedies from occurring, undertaking the herculean task of inspecting every garage in New York City for crac…
According to a surprising recent report from consulting firm Construction Coverage ranking the ‘Hottest Real Estate Markets of 2024,’ the NYC metro market ranks 48th out of 52 large U.S. cities. “While 2023 marked a notably more subdued…
With most home moves occurring between April and September, now’s the perfect time for homeowners to start preparing to sell their homes, according to the Northern Virginia Association of Realtors® (NVAR) which recently released six tip…
As we move toward spring and summer, major capital improvement projects become the focus for many co-op and condominium communities. One of the largest projects your community may undertake is a roof replacement. Whether a high-rise, mid-ri…
After a long period of low rates marked by high levels of activity in financing, the dramatic climb in interest rates over the past two years has presented challenges for co-op buildings faced with refinancing their underlying permanent mor…
According to a recent study by consulting firm Construction Coverage, the cost of buying a home in the New York City market is nearly half again as expensive as renting one. Then findings confirm a trend that’s been ongoing for a …
In 2025, the first compliance requirements for Local Law 97 will become a fact of life for literally thousands of New York City co-ops and condos, and those who call them home. Local Law 97 is far-reaching legislation aimed at making New Yo…