The economic life in most co-op buildings ticks along in a pretty ho-hum manner. That is, until the board of directors wants to do something out of the ordinary. Such is the case in Tom Bettridge’s Brooklyn co-op, where the board wants to morph its current administrative fee into a real flip tax. But can it muster enough votes to do so? Listen as Bruce Cholst, a partner in Anderson Kill, and Arthur Weinstein, a solo practitioner in New York, offer advice on ways to overcome shareholder apathy and how to come to terms with that fundamental democratic issue of whose ox is being gored.
Thinking of buying a co-op or condo? Already bought, and not sure how co-op/condo life and rules work? Learn all about purchasing a place and living in your new community. It's not like renting, and its not like owning a house. What's it like?