Written by Tom Soter on January 05, 2016
Philip Eng still remembers when the lights went out.
It was a Saturday afternoon in the summer of 2005. Eng had been living at the 318-unit Regent’s Park Gardens condominium in Queens for just three months, and at first he thought there had been a short circuit in his building. But then he found that the power was off in the development’s 13 other buildings as well. It stayed off for half a day.
Eventually Eng found out why: the condo’s Con Ed bills had not been paid for months. Further investigation revealed that the condo was basically broke.
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, it's all about balance: When co-op maintenance or condo common charges are too high, the middle class leaves. Too low, and you may not be able buy a boiler. We've another analysis of the new tax-abatement law, eco-friendly floors in Brooklyn, superstorm Sandy debris in Staten Island, and a newly landmarked co-op in Queens. And for boards there's got The Dakota lawsuit — as told by Vanity Fair! Welcome to the big time!
December 31, 1969
... a co-op board appears to renege on staff promises that new buyers can install a washer, a frustrated mom sues to evict her 58-year-old son from a Sutton Place co-op, and read what some deluded sellers are asking for their apartments.