New York's Cooperative and Condominium Community

Habitat Magazine October 2020 free digital issue

HABITAT

NEW YORK CITY

Low Interest Rates Come With New Snags for Refi Shoppers

Written by Lisa Prevost on October 26, 2020

New York City

Want to refinance your co-op's mortgage? Get your ducks in a row.

According to a report released early this week by CityRealty, the average price of new development units in buildings such as One57 is expected to reach a record $5.9 million this year. Those "slumming it" in a regular old existing Manhattan condo can expect to pay closer to $2.7 million this year. That said, far fewer units are being built now than were build during the development boom of the mid-2000s; therefore, the number of closed sales is expected to increase more modestly than their prices.

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Lease renegotiations are just one strategy for co-op and condo boards.

By Oct. 31, boards must post their building’s letter grades for the first time.

Different Tools for Enforcing the Rules in Co-ops and Condos

Written by William D. McCracken on October 20, 2020

New York City

Boards need to use every tool in the box during the pandemic.

HUD claims Long Island condo discriminated against disabled resident.

Co-op and Condo Boards Bracing for a COVID-19 Halloween

Written by Kathryn Farrell on October 15, 2020

New York City

Some are banning trick-or-treating while others are cutting back festivities.

Some co-op and condo boards are balking at paying required expenses.

The Climate Mobilization Act puts city on top of the green wave.

Interest Rates Make This Refi Prime Time

Written by Lisa Prevost on October 05, 2020

New York City

There’s a catch: lower rates come with greater scrutiny.

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Ask the Experts

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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