New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021

HABITAT

MANHATTAN

Recent news affecting co-op / condo buyers, sellers, boards and residents. New York City Controller John Liu wants to hear from co-ops, condos and others who suspect the Department of Finance overvalued your building for tax purposes. Plus, a Queens co-op is putting up signs to try to prevent people parking legally on a public street, the Attorney General gives developers an extra six months to digitize their offering plans, and a co-op board goes after a widow and widower. And speaking of boards, a lawyer tells how to collect arrears by cutting off amenities.

... the Sheffield condominium's male prostitute is getting evicted, but not for, like, a month, and there's visiting-dog trouble at a Riverdale co-op. For co-op and condo boards, we have another case of going out of your way to make life hell for older residents, and an expert says a co-op board president can let his cousin sublet longer than other shareholders can.

... a new condo-hotel might go up in Brooklyn Bridge Park. And are you living next to the guy who wrote Ocean's Twelve and The Bourne Ultimatum?

... 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.

... tips on how to buy your child a co-op or condo. Say, George and Ira Gershwin's old place is for sale!

... a court rules against a Queens co-op that tried to evict an elderly couple when the asthmatic, severely allergic wife needed a disallowed air conditioner in order to, you know, breathe and live. Also: How to prep an apartment for sale, what to expect from brokers in 2012, and how condos are becoming like co-ops when it comes to admissions.

... co-op maintenance fees and condo common charges may soon spike, a co-op to avoid in the hot Harlem market and, of particular interest for board, the latest in kid-friendly amenities and what are multi-condominiums and can their funds be mingled?

... they're buying Brooklyn, some co-ops dig dogs, a building thinks a name will bring cachet, and 2 East 67th Street says, "Name? Who needs a name when our co-ops sell for $30 million?!"

... co-op residents on Park Avenue win a victory over liquor sales, a new high-end condo is offering income-restricted apartments via lottery, co-op boards may be becoming more open to hardship sublets, and is Susan Sarandon your new neighbor in Brooklyn?

... 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.

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