Written by Ronda Kaysen on May 09, 2013
A major challenge when submetering a building is that workers must get access to each apartment. If crews have trouble doing that, it can delay the entire process, adding to the final cost. Installing submeters in 132 units, as was done at the Upper East Side co-op Tower East, can take two months, as resident schedules need to be accommodated and damage to paneling and walls might need to be repaired.
April 22, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a Brighton Beach condominium goes from lawsuits to protests over a public toilet its residents say is in the wrong place — blocking their ocean views. Plus, the noisy saga of 199 Bowery continues; a condo buyer who pulled out of a deal not only lost the deposit but owes $577,000 in legal fees; and looking to buy? Dont' overlook The Bronx! Plus, for condo and co-op boards, we've a Sandy-related lawsuit, a lawyer's thoughts on absentee ownership and more.
April 15, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. Quite the tabloid week this week, as police tell more about the Penn South embezzlement, as international money-laundering sends a Chelsea condominium apartment into auction, and as a suspect is arrested in a Co-op City killing. Plus, a bathroom may block views, a "maintenance-free" co-op and are Manhattan apartment prices up or down?
April 08, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. Yet another restaurant, yet another building fighting it: Like the planned Denny's in FiDi and a still-unnamed Mexican place in Tribeca, the Atlantic Terrace co-op in Brooklyn (left) wants to say arrivederci to Tony Roma's. Plus, a shareholder's riled in Riverdale and we remember the Rembrandt, New York City's first co-op. And co-op / condo boards won't want to miss the lawsuit alleging a scam of Weekend at Bernie's proportions!
February 25, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, State Senator Tony Avella tries to bring home the bacon ... or, rather, keep the bacon home, in a co-op issue involving a pet pig. Plus, for condo and co-op boards, New York City wins an illegal hoteling case, a co-op racial-bias lawsuit moves forward, and the boards of a Fifth Avenue co-op and a nearby condominium band together against a building proposed to rise between them.
Written by Ronda Kaysen on April 04, 2013
In February, a 105-unit condominium near Ocean Parkway in Brooklyn saw its insurance premium spike by 30 percent to $44,000. A 148-unit condo on the Upper East Side of Manhattan watched its bill jump 10 percent, to nearly $72,000. And a doorman co-op in Prospect Heights, Brooklyn, recently swallowed a 9 percent premium increase. Condos and co-ops across New York City are bracing for an expensive insurance market, as insurers raise rates for the first time in years.
No building seems immune. Even co-ops and condos that are fully insured and haven't filed claims are watching their rates jump by as much as 9 percent and their deductible limits rising. Other buildings are discovering that their carrier simply won't cover them anymore.
March 25, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, they do love their cigarettes in Queens, a Long Islander may face eviction for burning the wrong kind of firewood and Petey the Pig's "parents" are trying to sell their co-op apartment and fine a more swine-friendly place. There's a Harlem co-op / condo expo April 6-7. And where the wild things aren't is in the late Maurice Sendak's co-op, now up for sale. Plus, for condo and condo and co-op boards, we've advice on mediation.
March 11, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, Penn South goes south, and $190,000 went with it. Plus, New York officials want banks to release insurance money that's due superstorm Sandy victims, a co-op has constant drunken revelers in its garden, and does monthly maintenance ever decrease? And for condo and co-op boards, what do you do with a dog that bites? What about if the owner is a little old man?
Written by Ronda Kaysen on February 12, 2013
It was no surprise that 200 East End Avenue was vulnerable to superstorm Sandy: The garage had been flooded once before during a Nor'easter. But no one anticipated how much devastation the storm would wreak on this 17-story tower.
In the early hours of October 29, building superintendent Scott Falk thought the co-op would weather the storm with little damage. The property sits on the edge of Franklin Delano Roosevelt Drive and the East River just past it, so Falk and his staff evacuated the garage and secured the sloping driveway and service entrance with sandbags. The rain wasn't as heavy as forecast and by late afternoon, the streets were relatively dry.
Written by Ronda Kaysen on February 19, 2013
As he drove into the city from Long Island, Robert Mellman phoned environmental companies, hoping to get one onsite quickly to pump out the contaminated water. By the Orsid Realty property manager arrived, the building's electrician was there, working with Con Ed to cut power from the grid.
Thinking of buying a co-op or condo? Already bought, and not sure how co-op/condo life and rules work? Learn all about purchasing a place and living in your new community. It's not like renting, and its not like owning a house. What's it like?