New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide



On Our Radar


By Rebecca Poole, Director of Membership & Communication


PROPOSED STATE LEGISLATION: Establishing an abatement and exemption from real property taxes for capital improvements that reduce building carbon emissions in cities with a population in excess of 1 million people (S.943A / A.5050)

CNYC strongly supports this proposed legislation that would enable cooperatives and condominiums to receive tax credits for capital projects undertaken to reduce carbon emissions. Projects eligible for the abatements would include: (a) replacement, repair or installation of new systems for heating or cooling, including domestic hot water; (b) installation of solar, green roofs or other mechanisms to offset use of energy from the electricity grid; (c) replacement or installation of insulation in walls, roofs, flooring, eaves and around pipes;  (d) replacement or installation of thermostats to control temperature and building management systems; (e) installation of energy efficient appliances, fixtures or lighting; (f) repair, replacement and  modification of electrical systems, and/or wiring associated therewith, and (g) any other  categories of work established by the board that results in a net reduction in greenhouse gas emissions for the building. Design, engineering and preparation work would be considered part of each project. Per the current proposed legislation, projects undertaken after Dec. 31, 2021 would be eligible, and there would be a five-year moratorium on increasing assessed values as a result of such work. You may lend your support to the legislation, introduced by Kevin Parker in the Senate and Edward Braunstein in the Assembly, by following the links.


PROPOSED RULE: Artwork on Temporary Protective Structures (Sidewalk Sheds)—Proposed by Department of Buildings—to take effect Sept. 1, 2023

The proposed rules require approved artwork be installed on all temporary protective structures (sidewalk sheds), unless buildings opt out. The artwork installation would require approval, may slow down the speed with which sheds can be erected, may cause potential liability if the artwork becomes detached, and require a daily check to ensure the artwork is secure. As wire-mesh panels are now required on sheds in place of the solid wood panels, this artwork would be stretched over the mesh, which was intended to bring in additional light. The NYC Special Riggers Association opposed the proposed regulations due to insurance and safety concerns. CNYC also submitted testimony, requesting that the rules require buildings to “opt in” to having the artwork rather than requiring them to “opt out” at the time of filing the permit. We recognize the desire of the city to improve the look of sheds, but in a time when Facade Inspection and Safety Program costs are increasing exponentially, we do not believe it is right to require additional expenditures to install artwork, unless it is the building’s choice and there are incentives in place. If the proposed rule is adopted, CNYC will provide information on how buildings opt out.



The increase in flooding in New York State prompted the passage of legislation this summer that requires landlords to disclose the flood history (from natural floods) of all residential property being leased to tenants. Implementation requires a notice stating whether all or any part of the leased premises is in (1) a Federal Emergency Management Agency (“FEMA”) designated floodplain, (2) a Special Flood Hazard Area, or (3) a Moderate Risk Flood Hazard Area. It also requires inserting the following language into leases: “Flood insurance is available to renters through the Federal Emergency Management Agency’s (FEMA’s) National Flood Insurance Program (NFIP) to cover your personal property and contents in the event of a flood. A standard renter’s insurance policy does not typically cover flood damage. You are encouraged to examine your policy to determine whether you are covered.” Owners must state if they experienced damage from flooding and the extent of those damages. Cooperatives are advised to attach the required notices to proprietary leases as part of the purchase application process. Accordingly, it will now be included in CNYC’s Model Proprietary Lease and Shareholders Agreement and discussed at our class in December.  Finally, cooperatives and condominiums should ensure lessors attach the information to all leases/subleases. Buildings are encouraged to consult their attorneys and/or managing agents for more information.

INSURANCE (NY Labor Law 240)


New York Labor Law 240 imposes strict liability for worker injuries resulting from falls from height, and enables injured workers to pursue claims through general liability programs where damages greatly exceed those recoverable under a workers’ compensation program. The statute has resulted in rising claims and judgments and a sharp increase in insurance premiums. In turn, fewer construction companies can afford the required insurance, bringing up the cost cooperatives and condominiums face when undertaking projects by decreasing competition. Furthermore, carriers representing cooperatives and condominiums are demanding more oversight by buildings when reviewing the insurance submitted by shareholders/unit-owners performing alterations. We recommend discussing this topic with your insurance broker and having plans in place for how to request insurance from all contractors working in your building. 



NYC is at the forefront of co-op and condo advocacy, safeguarding the financial viability and way of life sought by New York City cooperative and condominium owners. We are dedicated to ensuring decision makers understand and consider the impact proposed legislation and regulations will have on you. We’ve served on a multitude of City committees. We consult advisors and work with other City, State and Federal organizations on your behalf. Our efforts have yielded many long-term results that continue to save buildings money and protect their self-governance. 

CNYC Classes and Discussion Groups

Beyond our advocacy, CNYC provides regular classes, discussion groups, and an annual conference. This fall we will hold a Four Part Series of classes on LL97, specifically designed for buildings that are not on target to reach 2024 or 2029 carbon emission thresholds. The classes, pushing “Sustainability with Affordability” will give boards the tools they need to develop feasible plans to comply with LL97, or to meet good faith effort requirements. Visit our webpage for more information or to register.

We welcome your feedback and input. You can reach us at or (212) 496-7400 for clarifications, or to provide comments on the proposed changes.

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