October 21, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, The Plaza puts the pedal to the mettle, as the storied hotel-condominium sues to get rid of a CitiBike rack. Also suing: Corporations fighting Joan Rivers' condo nemesis Elizabeth Hazan (see last week's News Roundup), and Yoko Ono, who says her West Village co-op board is walking on thin ice. We've renovation plans a board won't like, the latest on mortgage rate-locks, and superstorm Sandy woes persist in The Rockaways, Coney Island and elsewhere.
October 07, 2013
Recent news affecting co-op and condo buyers, sellers, boards and residents. The aftermath of superstorm Sandy lingers, Concourse Village workers may strike and a co-op / condo board-member group meets with mayoral candidate Joe Lhota. Plus, lot o' news for boards this week, as one court ruling partly limits the Business Judgment Rule and another says a particular type of Airbnb rental isn't illegal hoteling. And experts answer a board member's own plea: "What Can I Do About the Tyrants on My Co-op Board?"
September 30, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week there's a lot of news for boards in particular, with a growing wave of scammers falsely claiming disability in order to have dogs in a no-pet building, with the latest on publicly naming residents in arrears, with the expansion of no-smoking buildings, and with converting a club space to an apartment for resale. Plus: families buying multiple apartments together, broker-free sales and Judge Judy (above) buys in Sutton Place.
Written by Frank Lovece on August 30, 2013
It's hard enough for condominium associations to go after unit-owners in arrears for their common charges. It's even harder when the unit-owner "gives away" the apartment to somebody outside the country who moves around and doesn't give a forwarding address. And since courts don't recognize it when you serve court papers to the "former" unit-owner — who still lives there — what can a condo board do? Are you out of luck? Is this the magic-trick loophole, the get-out-of-jail-free card, that prevents a board from taking someone in arrears to court?
Maybe so, at least judging from a case still in its early stages involving The Spencer condominium in the Lenox Hill neighborhood of the Upper East Side.
September 02, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, for some reason, we're big on board-specific news: boards suing developers and residents, a board president squeezing "donations" from building vendors for a political bid and a board turning amateur cop and firing employees it suspects of thievery — hindering the investigation by actual cops. A George ZImmerman board, as it were. Plus, exclusive co-ops learn to compete for buyers and an alleged illegal hotelier has people arrested who complain! Man, late August is crazy!
April 29, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, the case may have involved a rental landlord, but a court approved "heavy surveillance" to build evidence of an illegal tenant. Condo and co-op boards dealing with illegal hoteling, take note. Elsewhere, the chickens come home to roost and the co-op board says they have to relocate, and at $125 million, a co-op penthouse becomes the most expensive publicly listed home in New York City history. Plus: Co-op board presidents tell their horror stories!
June 18, 2012
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, we're all about to lose our tax breaks. Not a joke. And, what tax credits we're entitled to are being delayed this year. Plus: Dog spas and triathlon gyms are among the latest condo amenities, a court says a co-op may be entitled to keep the deposit when a buyer throws the admission interview, and dryer lint catches Robert De Niro's apartment on fire — check your own dryers, folks; again, not a joke. And in keeping with this theme, it's no laughing matter when Joan Rivers is your condo board president.
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
A free digital resource for co-op/condo board directors. Published twice a month. Read now on all digital devices.