New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

NEW YORK CITY

The neighbors thought the smell came from rotting human remains — that's how bad the odor was that emanated from the locked apartment. An anxious co-op board ordered the super to break in and, to everyone's relief, it was only a cat —  one that, apparently, had been left unattended for some time and had been using the entire apartment as its litter box.

Median prices for Manhattan condominium apartments have increased more than 55.4 percent over the past decade, from $804,000 to $1.25 million. Townhouses have spiked less, rising just 33 percent, but the dollar amounts are way higher: $2.7 million to $3.59 million. Ah, but with a townhouse, there's no condo board, and no one telling you that you can't lease a portion of the place, so there's potential rental income to help offset the higher price tag. And you save on the monthly common charges, though you might well find yourself spending about the same on upkeep. Condos, on the other hand, have apartments above street level, which are generally safer and quieter, and often amenities like a gym or a roof deck. And there are subtler points to consider as well — all ably delineated by Leigh Kamping-Carder in "Ask an Expert: Condo or Townhouse — Which Is A Smarter Buy?," the latest installment in BrickUnderground.com's weekly roundup of authorities on various subjects.

Here's a scary scenario: Sales take a nose dive in your condominium because potential buyers fail to qualify for mortgages. Or worse, existing unit-owners are unable to refinance their mortgages or take out home equity loans. With mortgage giants Fannie Mae and Freddie Mac tightening lending rules, condos are bumping up against hefty reserve requirements that, unless met, will kill deals.

Housing discrimination against gays, lesbians and other LGBT people might be expected, sadly, in some other parts of the country. But in New York City in 2014? It still happens enough that at least one real-estate broker, Tama Robertson of Coldwell Banker Bellmarc, has made such clients her specialty. And as a married lesbian who had faced co-op board discrimination herself, she empathizes. As one client says of her in The New York Times, "We were both speaking from a common unspoken understanding that the most important thing was to be in an open and affirming neighborhood."

Alan Gorelick, the former executive vice president of the Manhattan property-management firm Saparn Realty, pleaded guilty yesterday to stealing $2.6 million from approximately 30 buildings he used to manage. He was convicted in Manhattan Supreme Court of second-degree grand larceny, criminal possession of a forged instrument and scheming to defraud.

For those in landmarked districts or buildings, tales of endless paperwork and stacks of forms can stop a board from doing needed renovations. But as with all things historical, time has a habit of changing things — even in the workings of the Landmarks Preservation Commission. Early last year, the LPC changed the way certain applications were submitted and reviewed, and released a document outlining the streamlined process and offering assistance with filing an application. What does this mean for condo and co-op boards?

Habitat talked about this last year in a story about how co-ops and condos all have unwritten rules about the privacy of your building's security-camera footage, key-fob data and other standard electronic measure — and how unwritten rules are dangerous and prone to abuse. It's a lesson that never gets old, as attorneys Dean Norris and Jeffrey Reich reiterate in the latest installment of BrickUnderground.com's "Ask an Expert" column: "Who's Allowed To Watch My Building's Security Camera Footage?"

How do you cope with living between your co-op board president and your co-op board treasurer without accidentally getting yourself evicted? Pretty easily, according to the pseudonymous Pamela, writing in BrickUnderground.com’s “Living Next To” column. Although the standard complaints arise — noisy dogs and, ahem, “recreational” smoke — the writer admits that living near the co-op’s authorities does have perks, like no riotous parties or unauthorized renovations on her floor. Guess the pros outweigh the cons in this situation.

Ask the Engineer: Why Does the DOB Turn Minor Repairs into Major Ones?

Written by Stephen Varone and Peter Varsalona on June 12, 2014

New York City

A reader asks: I am on the board of a prewar co-op on the Upper West Side. We authorized a contractor to do some minor masonry repairs, which could be performed without rigging, in order to stop a leak on the 16th floor. The repairs were small enough to not require filing with the New York City Department of Buildings (DOB) and amounted to less than $10,000. However, just after we started work, a DOB inspector stopped us and said we were required us to file a site-safety plan. We have been told by a site-safety company that because the work is within 20 feet of the street, we need a sidewalk shed. This is crazy! Please explain.

Noise and smoke complaints are two of the most common woes in co-ops and condos, as two put-upon shareholders lament in The New York Times' Ask Real Estate column. The first letter-writer says marijuana smoke from a hard-to-pinpoint location is worsening his wife’s asthma, while the second (scroll down to read) insists a new elevator is the cause of a constant whining and grating sound. Ronda Kaysen consults experts for both situations and offers tips on who to contact and what can be done. 

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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