New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021

HABITAT

CHELSEA

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, condo-owners don't want a visit from St. Vincent, the ex-wife of the Intuit software chairman loses out in a co-op sale, and the government wants home appraisals to be more transparent. And co-op board members can see one of their own taking the next step and running for office.

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, Seward Park Co-op shareholders protest the suburbanization of the Lower East Side, a church rattles a co-op's walls, and there are, like, 10,000 LEED-certified buildings in the U.S now. Is your co-op or condo one of them? Why or why not? Please discuss. Plus, an Upper West Side arborcide, mandatory volunteerism at a self-managed co-op, and a condo owner wants to turn his place into a bed-and-breakfast. Kate Winslet, on the other hand, is looking for a more long-term rental of her Chelsea condominium.

Chelsea Mourning: A Co-op Board Member Bemoans Bad Neighbors

Written by Curtis Houlihan, Secretary, 329 West 21st Street Corp. on August 21, 2012

329 W. 21st Street, Chelsea, Manhattan

When I bought a one-bedroom co-op in Chelsea in 1994, I could feel the doors of affordability close right behind me. Just a year later, my apartment would have sold for twice as much, which would've been way out of my modest price range. Today, it's worth seven or even eight times what I paid. Like a lot of folks who rode the Chelsea real estate wave, I feel like I won the lottery.

But there's a serious downside to all this "wealth" creation, and that is when your longtime neighbor cashes out for retirement in Florida or Panama, and the new buyers — who are genuinely wealthy — begin to move in.

One of the most important things co-op boards and condominium associations want from their property managers is new initiatives — ideas to help improve and upgrade your buildings, or to proactively solve problems. Fortunately, managers say that offering new ideas is a no-brainer — and a necessity if they want to be competitive with their colleagues.

As spotlighted in N.Y. Habitat’s "Silhouette" column in June 1982, the cooperative at 22 West 26th Street was billed as "one of Midtown's last and best loft conversions," with open-plan apartments and views of the Empire State Building and the World Trade Center. Less than 50 percent of the industrial buildings on the block at the time had been converted to residential use, and local zoning preserved much of the gritty feel that drew buyers to New York City's Flatiron District.

... how door staff can help or hinder your co-op / condo sale, a new condo with amenities aimed at Orthodox Jews, and Seward Park becomes "Sewer Park," according to a lawsuit. For condo and co-op boards, we've news on rising water bills and advice on co-op subtenants and condo arrears.

... Manhattan condo prices tells the rest of the country's real estate to sit down and shut up, and we'll tell you the condo where Ricky Martin's going to be living on East 85th Street.

... a Brooklyn co-op ponders the cost of repairs now that its building has been landmarked and a buyer gets blindsided by a seller not honoring a deal — wait till you read why. And a real-estate attorney explains how co-op boards may just have saved New York City real estate.

...crazy co-op neighbors, real estate license violations are now available online and condos are cool in Queens. And for co-op boards and condo associations, we've news of new tax-reform bills in Albany and more.

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.

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