We did not used to have this but now, it seems, we do.
Basic UWS pre-war coop with no amenities. part-time doorman.
How normal is this?
the building has a debt-to-income ratio requirement of 19%; the combined monthly mortgage and maintenance costs should not exceed 19% of a buyer’s gross monthly income.
Does anyone have experience with a roof top solar farm as a revenue source.
Hi. My father was a Connecticut resident when he died. He had 2 Coops apartments in Manhattan, NYC. In his last will he left his children (My siblings and I) his shares in the two coops. We don't know where he saved his certificates of shares. We are dealing with the probate process in Connecticut.
What do we need to do to ask the Coops Boards to issue Certificate's duplicates ?
What will the Boards require?
Can the Boards refuse to issue the certificates duplicates or reject us as new shareholders?
What can be done if the Board of Directors of a Mitchell Lama Coop violates the new Mitchell Lama Reform Law 6412 and inform shareholders of 782 units that until they have a directive from HPD they can swim around the law?
That will continue to use proxies to achieve a quorums not use names of Directors on the minutes when they vote on coop business . Thank you
The unit above me has a brown spot on their ceiling. They are new owners and have asked the manager to check the matter. He told them he would but has not made any arrangements for an inspection. I have lived in this building for 25 years and the roof has never been replaced. they have repeatedly asked for someone to check this out but are being ignored. What would the next step be?> Join the conversation Comments (1)
Lately, some of my shareholders who are looking to refinance and at least one new purchaser have approached the board with requests to increase insurance coverage limits. What I don't understand is, the increased coverage amounts are minuscule. For example, one ReFi requested an increase in Fidelity Bond (theft and embezzlement) from $435K to $450K. Another was for a D&O increase for some similar small amount.
Has anyone on here been hit with these kinds of requests? If so, how did you handle them with your shareholders, and also with the offending.... errrr... requesting banks? If you said or did something that worked and caused the bank to forego their increase request, please post it on here so the rest of us can benefit.
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