Co-op / Condo News: Sponsor Sues Shareholders Just for Complaining
Madison Park, 1831 Madison Ave.
April 14, 2014 — Recent news affecting co-op / condo buyers, sellers, boards and residents. This might be a first: A rich developer is suing shareholders at the City-subsidized, middle-income co-op Madison Park Apartments just for complaining about what they called shoddy construction and repairs, including leaks dating to 2002. Since one of the defendants is a 68-year-old retiree on Social Security, we're guessing developer Donald Capoccia of BFC partners isn't figuring on them mounting an expensive defense. Gag me with a lawsuit.
Plus, a Central Park West condominium extends balloting time for an anti-smoking vote. Should it have? City Council members rail at the Fed for delayed Sandy relief funds. And we've reverse-mortgage realities, Airbnb telling people not to hotel illegally, and how to compile a great co-op board package.
Read all the latest co-op /condo news for buyers, sellers and board members in Habitat's weekly Monday News Roundup. Also included: Permanent archival links: If a link ever goes dead, you'll still be able to read the backup at WebCitation.org.
Co-op / Condo Buying, Selling, Living...
- "Harlem Homeowners Hit Back at 'Rich, Powerful' Real Estate Developer Who Slapped Them with $4.25M Lawsuit" because they wrote to politicians about the co-op's habitability issues, by Daniel Beekman (New York Daily News). See also 2011 Habitat article "Resident Fees for Building Amenities: How to Set Them Fairly" by that co-op board's president
- "City Council Members Vent Sandy Frustrations" at slow payout of relief funds, by Joe Anuta (Crain's New York Business)
- "How Do I Compile a Great-Looking Co-op Board Package?" by Leigh Kamping-Carder (BrickUnderground.com)
- "Reverse Mortgage Realities" by Lisa Prevost (The New York Times)
- "Smelly Halls / The Case of the Missing [Co-op Documents] / The Coveted Storage Locker" by Ronda Kaysen (The New York Times)
Co-op / Condo Board Issues...
- "Lights Out? Part Deux: Smokers Rights’ Group Stews Over Postponement of Smoking Ban Vote" by Chris Pomorski (The New York Observer)
- "For New York City Doormen, Some Closed Doors" at nonunion buildings, by Julie Satow (The New York Times)
- "Airbnb’s New Terms of Service Are About Taxes, Law Breaking and Evictions' by Jason Clampet (Skift.com)
WebCitation archives:
Harlem Homeowners • City Council • Co-op Board Package • Reverse Mortgage • Smelly / Missing / Coveted • Lights Out? • Doormen • Airbnb's New Terms