July 08, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, following the Independence Day holiday, we look at neighborhoods on the rise in Brooklyn, Queens and Manhattan. Plus, an expert tells you about refinancing your co-op — and, for boards, another explains all about financing your super's apartment. And two TV / film notables sell their places: the late Celeste Holm's Central Park West abode gets bought, and The Simpsons' Hank Azaria, the voice of Apu, Moe, Chief Wiggum, Comic Book Guy and more puts his Soho condo — Cindy Sherman's old place! — up for sale.
November 19, 2012
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, there's no bigger news for boards than of the legislative mess in Albany that will send co-op and condo property taxes sky-high unless Gov. Cuomo and company take action. On the Upper East Side, a co-op board sues a sponsor that won't let go even after 24 years, a doorman charges a management company with allowing racist rants, there's power from the sun in Sunset Park and much more.
Written by Sheryl Nance-Nash on June 06, 2013
Worried about guns in your building? Steve Rosenstein is. As board treasurer of a Brooklyn co-op, he maintains and updates the purchase application for unit sales in his building.
"After [the shootings at] Sandy Hook, I started thinking about adding a question or two about gun ownership to the application," he says. "I can tell you definitely that boards are starting to ask questions about guns and firearms as part of co-op admissions and habitability." With gun violence in the news, it may be time for your board to consider gun control.
June 10, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, Airbnb brings financial support to the case of Nigel Warren, fined $2,400 for illegal hoteling. Read the company's justification for why landlords, co-ops and condos should allows streams of strangers to turn residential buildings into hotels. The best part? Airbnb writes this on the company's "public policy" blog — never once mentioning that overturning New York's illegal-hoteling restrictions would give its business explosive growth. Yep, they're just looking out for the little guy, that's all.
Plus, is a co-op board backing bullies in Park Slope? Sure seems that way from the photographs of a Yuppie's obscene hand gestures toward an 88-year-old woman, her 53-year-old daughter and the grandkids at 808 8th Avenue in Brooklyn. Plus, Judge Judy sells her co-op, and the condominium board of a landmarked building sues to keep a Denny's restaurant out of it.
May 06, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, sponsor abuses stir up the latest call for a co-op ombudsman in the Attorney General's office, a Queens condo board changes apartments' locks to keep owners out during Sandy repair — commandeering one home for a construction office — and West Village co-opers sue to keep away bicycle clutter. For condo and co-op boards, we've the latest hoteling lawsuit. Plus: Condopedia! Which we're sure is as accurate as regular Wikipedia.
Written by Tom Soter on April 24, 2013
Unlike many board directors, Jeannie Hutchins finds the demands of leadership stimulating. "I think it's a challenge to try to be fair to everyone, and to look at all the paths and find the one that is the most democratic," she says.
Hutchins has certainly had her hands full over the past two years. During that time, as president of the 70-unit co-op at 30 Ocean Parkway in Brooklyn, she has been overseeing a demanding exterior and interior renovation of her building. "I found this project very interesting. It was a headache - it was no picnic - but it was very educational for me."
April 22, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a Brighton Beach condominium goes from lawsuits to protests over a public toilet its residents say is in the wrong place — blocking their ocean views. Plus, the noisy saga of 199 Bowery continues; a condo buyer who pulled out of a deal not only lost the deposit but owes $577,000 in legal fees; and looking to buy? Dont' overlook The Bronx! Plus, for condo and co-op boards, we've a Sandy-related lawsuit, a lawyer's thoughts on absentee ownership and more.
April 15, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. Quite the tabloid week this week, as police tell more about the Penn South embezzlement, as international money-laundering sends a Chelsea condominium apartment into auction, and as a suspect is arrested in a Co-op City killing. Plus, a bathroom may block views, a "maintenance-free" co-op and are Manhattan apartment prices up or down?
April 08, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. Yet another restaurant, yet another building fighting it: Like the planned Denny's in FiDi and a still-unnamed Mexican place in Tribeca, the Atlantic Terrace co-op in Brooklyn (left) wants to say arrivederci to Tony Roma's. Plus, a shareholder's riled in Riverdale and we remember the Rembrandt, New York City's first co-op. And co-op / condo boards won't want to miss the lawsuit alleging a scam of Weekend at Bernie's proportions!
Written by Frank Lovece on April 05, 2013
J-51 may be the nicest letter-number combination in all of New York City's co-op and condominium tax statutes: a property-tax exemption and abatement for renovating your apartment building. But what happens when the Department of Finance miscalculates and gives you more than you're due? You have to pay it back with interest, right? Not necessarily. Here's how a co-op in Brooklyn managed to keep an extra $153,000.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
A free digital resource for co-op/condo board directors. Published twice a month. Read now on all digital devices.