New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

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UPPER WEST SIDE

The 250-unit Normandy, located at 140 Riverside Drive on Manhattan's Upper West Side, recently phased out its old-style bulbs. For co-op board president Bennett Lincoff, convincing the other board members it was a good idea was easier than screwing in a light bulb. The fact is, according to energy experts and building managers, if you still have incandescent lighting in your building's public spaces, rather than compact fluorescent light bulbs (CFLs) or light-emitting diodes (LEDs), you're probably wasting money.

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, police name an accomplice in the Penn South co-op embezzlement, and one Financial District condo board gets sued over cell-phone antennas while another hopes Denny's won't grand-slam into their luxury building. In other lawsuit news, a Murray Hill co-op board misses a deadline in a discrimination lawsuit. Note to self: Don't hire that lawyer. Plus, see how all the changes in the co-op / condo tax abatement play out with LLCs and trusts — trust us, you want to know. And Bruce Willis buys hard on the Upper West Side.

The Apple Store, located on Broadway and 68th Street, is a glass box: beautiful, elegant, and refined – less a computer shop, more an experience. To the north of it sits the Bel Canto, a 76-unit condominium that towers over the store. Neighbors, sure, but when representatives from the two buildings began talking, they didn’t swap stories about Macs or PCs. The topic was real estate, specifically Local Law 11. The issue seemed simple: the 27-story Bel Canto needed to repair its façade, and it needed permission – a so-called “access agreement” – to work over the roof of the five-story Apple Store.

How hard is that?

Very, it turns out. “It took us three years of negotiations to come to an agreement,” recalls Andrea Bunis, the president of Andrea Bunis Management. And after three years of talk, “they only gave us about 90 days to do the work.”

Far beyond being a trend, gyms, also known as health clubs and fitness centers, are becoming as ubiquitous as lobbies and elevators. You'd be hard put to find a single new-construction condominium that doesn't have one, and many older cooperatives and condos, anxious to stay up-to-date, are weighing the option so as not to look like dumbbells. "If you don’t have one, you’re at a competitive disadvantage," says Deanna Kory, a senior vice president and associate broker at Corcoran Group Real Estate. "There are people who look at two similarly sized apartments who will be swayed to the building with the gym — often."

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, an Upper East Side co-op owner with pot-smoking friends wishes the board would just chill out, dude. Plus, a dearth of condos makes it harder to buy the one you want, the mighty Thor Equites vanquishes a condo board, and no-FEMA apartments.

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, Congress and the president save the mortgage-interest deduction, buildings in the flood zone, including co-ops and condos, may be required to buy flood insurance, Spielbergian producers sell their co-op and Manhattan apartment prices about to go up.

Now it was time to talk to the dame's mouthpiece. Adam Leitman Bailey had made a name for himself writing books about real estate, like Finding the Uncommon Deal (2011). He had a pretty swell set-up, down on Broadway near the courthouses. He was the kind of guy that judges called, "Your honor."

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week's riddle: In a no-dog building is a pet pig livestock? Plus, the federal Interstate Land Sales Full-Disclosure Act (ILSA) takes a homeowner-protection hit, we tell you where can you buy a co-op apartment for just $250 to $1,800, and The Rushmore condominium swears it meant to be finished by 2009 and that 2008 promise? Just a typo! And for co-op and condo boards, we have news about collecting monthly charges in the aftermath of superstorm Sandy.

Insurance Headaches Arise When Proprietary Lease Is Worded Certain Way

Written by Melanie Keenan, Secretary, 215 West 105th Street on December 20, 2012

215 W. 105th Street, Upper West Side, Manhattan

The downturn in the economy could be leading to a rise in legal disputes between co-op and condo owners — even over the payment of relatively low insurance deductibles caused by leaks, fire, shabby construction and other kinds of damages to a neighbor's apartment — especially when neither tenant is directly negligible or in violation of the house rules.

I'm close to this story, because it happened to me. I've lived in my co-op for some time, and have dutifully served on the board.

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a New York City co-op board that refuses to recognize Hanukkah? That'd be mashugana if it weren't so disturbing. Plus, another high-rise hooker, recovering from superstorm Sandy, a co-op flood wall in Yonkers and city inspectors have become unglued in Co-op City. And for co-op and condo boards that want good lobby art but can't afford it, two boards have creative solutions.

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