Written by Paula Chin on February 26, 2018
Longacre Gardens finances major projects without a hit on shareholders.
Written by Paula Chin on February 13, 2018
“If you’re not suing your municipality, you’re not doing your job.”
White Plains co-op settles lawsuit filed by disabled applicant.
Written by Marianne Schaefer on June 21, 2017
Tired of patching its roof again and again, a co-op decides to replace the roof and cooling towers.
December 02, 2016
Condo’s treasurer used building funds as his personal “piggy bank.”
May 06, 2016
HUD slaps White Plains co-op with discrimination charge.
Written by Tom Soter on November 04, 2015
They said it couldn't be done. But to Joe Camastra that's all the more reason to try to do it. "They said the building slab wasn't conducive to carrying weight. I said, 'No problem. I heard everything you had to say. But I am going to build a park.'"
Now, five years later, Camastra watches as workmen put the finishing touches to a park built over a partially underground garage at the Claridge, one of two 100-unit buildings that make up one cooperative in White Plains. For the last 16 years, the co-op, with an annual budget of approximately $3 million, has been run by board president Camastra, 75, who will never get a prize for modesty (although he could get one for getting things done).
Written by Jason Carpenter on February 18, 2014
The history of bad blood between boards and holders of unsold shares or unsold apartments — often called "sponsors" though they might be not the original co-op sponsor or condo developer anymore — dates back to the rental-building conversion boom of the 1980s. Sponsors were the building owners who converted to cooperative status, with units sold to the public. However, in most cases, they would keep a number of apartments and retain majority control of the boards. As a result, they would have the largest say in rules, regulations, and spending for their buildings. This goes on today with new construction and some condominium developers.
And the first step for condo and co-op boards that want an effective working relationship with a sponsor? It's understanding how sponsors think.
Written by Bill Morris on January 16, 2014
The insurance company and the board were soon wrangling over their widely divergent cost estimates, the scope of the work, what was covered under the policy and when the settlement would be delivered. Eager to get the job moving forward, the co-op board announced it was going to begin repairs in July 2009, seven months after the fire, with the money offered by the insurer — but would continue to fight for a larger settlement. Here, a bit of luck worked in the co-op's favor.
Written by Bill Morris on January 14, 2014
It all began on a cold December afternoon in 2008 at The Broadlawn, an elegant Jazz Era compound that houses 121 co-op apartments in White Plains, N.Y. Workers were repairing the slate roof and repointing the brick façade, and, though the contract stipulated that no acetylene torches were to be used on the job, one worker with the subcontractor was using a torch to speed the drying of mortar before the crew knocked off for the weekend. The flame ignited the roof. Soon the blaze was spreading out of control and a dark black cloud was boiling into the cold winter sky.
This is the story of that devastating fire, which wound up testing the residents, educating them and, finally, making their co-op stronger than ever.
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?