New York's Cooperative and Condominium Community

HABITAT

MANHATTAN

Tight inventory and high mortgage rates portend sluggish sales in 2023.

Litigation mushrooms when third parties get dragged into the fight.

Voter turnout plus a carrot and a stick help co-op board sell a transfer fee.

Surprises happen, and boards should set money aside to handle them.

High-end condos selling much faster than their co-op counterparts.

Inertia is widespread even though Local Law 97 goes into effect just over a year from now.

Worker’s Death at Co-op Underscores Importance of Air-Tight Insurance

Written by Scott S. Greenspun and Jillian Menna on December 01, 2022

Upper West Side, Manhattan

Co-op and condo boards can leave nothing to chance during repairs.

With interests rates high and inventory low, tax breaks have become a plum.

Some boards are mulling changes to house rules as a quick fix.

Deferred maintenance and foot-dragging are no longer viable options.

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