New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

NEW YORK CITY

Cash sales of co-ops and condos in New York City have dropped to the lowest share in nearly two years.

Another "final" set of rules offers relief for buildings with legal, physical or financial constraints.

"Beneficial owners" must be reported to the federal government by Dec. 31, 2024.

New law restores ability to take out 30-year mortgages, preserving apartment values.

Non-renewals are driven by claim history, building violations and non-compliance with risk minimization.

A co-op board loses a lawsuit after rejecting a purchase price as too low.

Manhattan, the Bronx and Staten Island to join Brooklyn and Queens in fight against greenhouse gases.

The Fed's half-point cut in the benchmark interest rate will be felt next year.

$4 million budget and $20 million grant allocated to beef up enforcement efforts.

The Department of Buildings has released a new guide for large residential buildings to clarify how to calculate and report carbon emissions in order to comply with Local Law 97, and to explain how properties can challenge their Article 320 designation and request extensions for carbon emission reporting.

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