February 17, 2014
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a 63-year-old woman in a Fifth Avenue co-op has had the same Maytag washer in her apartment for 20 years with permission and without trouble. Now the co-op board won't approve a replacement unless it's one of three hoity-toity brands. Well, lah-de-dah ... Maytag's not good enough for 'em? Let's go to court! And court may be where Trump Village West board president Igor Oberman might wind up, since a New York City Department of Investigation report accuses him of less-than-ethical things. Plus, Co-op City has an asbestos problem. Or does it?
February 03, 2014
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week: Remember that deaf grandfather a couple of weeks ago in Battery Park City, where the condo board disapproved a service dog? Yeah, that dog died, but the man has another one and the board's not pursuing eviction. However, the homeowner is still pursuing an anti-discrimination lawsuit. In better news for boards, the U.S. Senate is delaying an increase in the cost of mandatory flood insurance — and speaking of which, some New York City property managers are encouraging serious disaster-prep at their buildings. Plus, it's the latest amenity: personal shoppers! Which they still don't have at Billy Joel's former co-op, now up for sale.
January 13, 2014
Recent news affecting co-op / condo buyers, sellers, boards and residents. Lots of board news this week, as a condo board in Tribeca files a lawsuit to keep a Crunch gym out of its building, and the co-op board of Co-op City fails to have its residents pass a five-year cable-TV lock-in with Cablevision. Experts answer whether a co-op board can force out a registered sex offender, and whether a building might gain air rights anew after selling them years ago. Plus, co-op prices go down, condo prices go up, and Drew Barrymore buys an apartment.
June 24, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, half of Albany is up in arms and the other half is sticking its hand out over 421a tax abatements for luxury condominiums. Meanwhile, the attorney general slaps the wrist of a developer banned from selling any condos at all. Plus, a big change at Co-op City and a big sale in Greenwich Village, as Mary-Louise Parker (right) sells her Washington Square co-op. Plus: Advice for your co-op board admissions interview.
November 25, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, the saga of Oceana may be nearing its end, as a judge halts construction on view-destroying boardwalk restrooms. Elsewhere, a condominium's residents get displaced by fire, Co-op City mulls Cablevision, and there's some legislative movement, finally, to thwart scammers who pretend to be disabled so they can have pets in no-pet buildings. Plus, Carly Simon sells her co-op, we've tips for co-op admission interviews — hopefully not like this one from Saturday Night Live — and apps, not fobs, may be the keys of the future.
November 04, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a luxury building is actually chintzy, its non-union doormen argue. And a Staten Island board seems rather cheesy, if the parking-space perks its members gave themselves is any indication. A court puts the brakes on a co-op's attempt to be rid of a Citi Bike rack. And a condo-owner in Chelsea gets concrete results — from a construction site dripping it onto his patio. Plus, for condo and co-op boards, an attorney finds yet another novel way of dealing with unit-owner deadbeats.
Written by Jennifer V. Hughes on October 29, 2013
The concept has been used in New York City since the 1980s, but shared savings agreements have only recently begun gaining traction with co-op boards and condominium associations as a way to finance green projects. It involves finance companies, energy consultants or contractor / vendors financing your green project with the promise they'll be repaid annually, with interest, through the subsequent energy savings. So when and why would such an arrangement be appropriate for your own building?
Written by Jennifer V. Hughes on October 08, 2013
You want to do a lighting retrofit in your garage or convert your boiler from oil to gas. Where do you get the money? If your building is the right size, you may want to try a shared-savings agreement.
"For us, it was a no-brainer," says Herbert Freedman, the managing agent of Riverbay Corporation, which runs the 15,000-unit Co-op City complex in The Bronx.
December 10, 2012
Recent news affecting co-op / condo buyers, sellers, boards and residents. A co-op board is rightly skeptical of a claim that no possible antidepression treatment even exists other than a dog. A starchitect's building in Brooklyn comes without a trash room, and the city says it's legal — but still tickets the condo for, well, not having a trash room. Manhattan condos are selling strong, but co-op bargains are to be had in the Heights. And for co-op / condo boards, a discrimination lawsuit still stands, but its lawyers don't.
June 03, 2013
Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, a co-op gets rid of a Citi Bike station — and we learn a co-op board elsewhere has banned shareholders from having bikes. A Bronx co-op owner tells a board horror story — and a board member asks how to get rid of a bullying board president. But on the positive side, Co-op City gets energy-efficient lighting — and Madonna's cut the price of her Harperley Hall co-op; now it's just $19.995 million!
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?