New York's Cooperative and Condominium Community

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LEGAL/FINANCIAL


HOW LEGAL/FINANCIAL PROBLEMS ARE SOLVED BY NYC CO-OPS AND CONDOS

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.

New cash infusion from the state will keep co-op affordable until 2052.

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Court orders $1.1 million set aside to cover sponsor’s missteps.

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Nearly 4,000 boards are facing a decision that will put them in a “pickle.”

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Prevailing Wage Affidavit Deadline Pushed to April 15

Written by Bill Morris on February 07, 2022

New York City

Boards must pay prevailing wages to qualify for a cherished property tax abatement.

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When abatements end, taxes are sure to go up — but how much and how fast?

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A chink appears in the sturdy armor of the business judgment rule.

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Archaic assessment formulas and annual caps have led to massive disparities in tax burdens.

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Boards must weigh payroll cost increase against tax benefits for residents.

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Public hearing yields a promise from sponsors that co-ops will be exempt.

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Gov. Kathy Hochul signs bill designed to preserve affordable housing.

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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

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