HABITAT
NYC co-ops and condos face legal and financial challenges that have to be solved. Whether it's a question of how to raise more money, how to deal with angry owners, or the best ways to work with a building's accountant or lawyer, co-op and condo board directors have to make decisions. The collection of articles here will help your co-op or condo board navigate these waters.
Distorted rates are not always tied to home values or levels of risk.
East Village Co-op Cuts Fossil Fuel Use by 80% Through Hybrid Electrification & Heat Pump Install
Written by Kathryn Farrell on June 23, 2024
The International Tailoring Company Building has achieved a triple-play with hybrid electrification, reducing fossil fuel use by over 80%, reducing annual energy use by 57%, and making apartments more comfortable.
Co-op in West End Avenue Finances Riser Replacement with Innovative Payment Plan
Written by Kathryn Farrell on July 03, 2024
A luxury West End Avenue co-op is using an interest-free contractor payment plan to fund a nine-month, multimillion dollar riser replacement project, allowing the work to start immediately and stretching the monthly assessments nine months beyond the expected completion date.
Historic deal preserves affordability under a 99-year regulatory agreement.
Denying access based on religious observance may be considered discrimination.
Water rates increased by 8.5% due to a budget maneuver by Mayor Eric Adams.
Co-op boards have the right to enter into confidential settlements with employees.
Debate centered on Carnegie House, a co-op facing a stiff land-lease rent increase.
Court Curbs Condo Board's Power on Repair Mandates
June 07, 2024
Court rules that windows are part of individual apartments and not common elements.
Board Decisions on Repair Projects Require Strict Adherence to Governing Documents
Written by Michael Savino, Partner, Braverman Greenspun on June 06, 2024
Co-op and condo boards must consult the governing documents before approving repair projects, as failure to do so could result in a lawsuit for breach of fiduciary duty.
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