New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

BUILDING OPERATIONS


HOW NYC CO-OP AND CONDOS OPERATE

NYC co-ops and condos, like all residential apartment buildings, are bricks and mortar. They need care, maintenance, and money to pay for the upkeep. The goal, though, is not to make a profit, but to create an environment that owners want to live and invest in. How co-op and condo buildings do that in New York City is what you'll find here. 

Boards need to remain vigilant even as Local Law 18 curbs illegal sublets.

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Bills require load-bearing capacity study, double civil penalties, and more frequent inspections.

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Queensview Inc., a 726-unit co-op in Astoria, is saving up to $1 million on a $12 million facade and roof replacement project by consolidating the work, which will take two years to complete.

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A 100-unit prewar co-op in Crown Heights is undergoing extensive structural repairs due to deterioration, with a line of apartments needing to be demolished and rebuilt to restore structural integrity, while the board has set aside $25,000 to subsidize the rent for displaced shareholders.

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In a first, a Mitchell-Lama co-op has converted to an HDFC with a 50% flip tax.

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How to Address Resident Hoarding in Co-Op and Condo Boards: Strategies for Safety

Written by Jennine Cullen, Associate Attorney, Taylor, Eldridge & Endres on March 28, 2024

New York City

A board of a co-op or condo must first document the situation, seek emergency orders from the courts, and appoint a guardian to help facilitate a hoarding situation.

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Co-op and Condo Boards Face Challenges Accommodating Emotional Support Animals

Written by Carl Finger, Principal, Finger & Finger on March 14, 2024

Emotional support animals are protected under the Fair Housing Act and Americans with Disabilities Act, and boards should establish clear policies outlining the documentation required for ESA requests, while also ensuring prompt responses to requests and leveraging existing bylaws and lease agreements to enforce rules and regulations.

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Under the warranty of habitability, co-op and condo boards must make sure all intercoms work.

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The Trump brand has proven a drag on values for Manhattan condos.

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As co-op and condo boards struggle to prevent fires, city is enforcing new laws.

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Ask the Experts

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

Source Guide

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