CooperatorNews New York, The Co-op & Condo Monthly

New this week

An Innovative Idea for LL97 Compliance

Distributed Energy Resource Developers

With the clamor and confusion around compliance with Local Law 97 (LL97) requirements, co-op and condo communities acros…

Selling A Home as a group of diverse home buyers reaching for real estate success in a seller market as a symbol for buying a house and affordability challenges to residential ownership.

Study: NY Metro Housing Stock is 3rd Oldest in U.S.

National Housing Shortfall Between 1.5 & 7.3 Million Units

FHFA, HUD Announce New Credit Scoring Models

Move Will Modernize Mortgage Processes While Balancing Risk

Big fish eats small fish, food chain or takeover business concept vector illustration

Management Consolidation

Implications for Shared-Interest Communities

Study: NYC Homeowners Pay $6,669 in Property Taxes Annually

Bills Still Climbing Across Much of the U.S.

Management

Strategic Reserve Management

Tending Your Building’s Nest Egg

With construction costs rising and a dense framework of municipal mandates to navigate, the fiduciary duty of co-op and …

Management

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2026 March

Management Trends Every NYC Board Should Watch

2026 February

Changing Management

Tips for Navigating the Transition

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2026 January

Wash Day

Multifamily Laundry Management

Red car paked in underground garage with lots of vehicles

2026 January

LL126 - Garage Inspections & Repairs

What’s Included, When, and Who Pays?

Finance

Fees Wooden Blocks On Increasing Coins Stacks

Funding & Fiduciary Responsibility

Setting Proper Maintenance Fees

Increasing residents’ monthly fees is never popular, but with insurance, labor, materials, utilities, code compliance an…

Finance

Reston, Virginia, USA- march 1, 2020: Freddie Mac office in Reston, Virginia, USA. Freddie Mac is a public government-sponsored enterprise (GSE).

Mortgage Rates Decrease to Lowest Level in Over a Year

Freddie Mac Releases New Survey

Cartoon illustration of man moving his home by carrying it on his back

NY Metro Mortgage Delinquency Rate Lower Than U.S. Average

Southern States Face Dire Numbers

Study: Middle-Class NY-NJ Metro Families Pay 3rd Highest Taxes in U.S.

Only SF Bay Area is Higher

Midtown Co-op Residents Face 450% Monthly Fee Increase

Long-Term Ground Lease Triggers Chaos

On The Board

Property Management Tales and Takeaways

The ever-changing, often unpredictable nature of their industry requires professional property managers to be adaptable.…

New Alteration Agreement Form for Condos Adopted

Standardization Will Help Boards Modernize & Reduce Risk

Insurance policy document concept, Businesswomen checklist insurance document online, Transportation, Travel, Cargo, Family, Healthcare, Financial Information and conditions, benefits from insurance

2026 January

Insurance Coverage in the New Year

It’s Expensive Out There

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2025 December

The Board Package

Balancing Power With the Law

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2025 July

Just a Minute

Maintaining Your Board’s Records

CooperatorEvents Expo New York Returns - In Person - to a NEW LOCATION!

The Must-Attend Event is Back - at the Javits Center!

On Thursday, October 28, 2021, board members, managers, building owners, and co-op and condo residents from around t…

2020 December

Technology vs. COVID-19

Co-ops & Condos Use Tech Tools to Beat the Virus

2020 October

Supporting Essential Building Workers

How to Show Your Staff You Care

Conflict in Client Communities

What's the Manager's Role?

Managing Conflicts

How Managers Make Peace

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Free Speech vs. House Rules

Balancing Both in Contentious Times

The First Amendment of the US Constitution guarantees the right to free speech and expression - but how does that right …

Neighbor Noise

When Enough is Too Much

Communicate...and Then OVERcommunicate

Tips for Getting Residents Involved, Engaged, & Informed

Helping Older Neighbors During the COVID-19 Pandemic

4 Things You Can Do

March 20, 2020

Vulnerable Residents

Safety for All

Maintenance

New York, NY, USA, 12-05-2023 New York City night time street scene with scaffolding parking garage entrance and pedestrians. Editorial use only.

Sidewalk Sheds—Expensive Eyesores

Sidewalk sheds are a frequent sight—and frequently a point of contention—across all five boroughs. Put up to facilitate …

2026 May

Local Law 126–Garage Inspections

Preventing Structural Failures

A residential ceiling showing severe water damage with bubbling, discoloration, and stains, likely caused by a leak. The affected area highlights the urgency for repairs to prevent further structural issues. Ideal for illustrating water damage restoration, home repair services, or property maintenance needs.

2026 April

The Battle Against Leaks

Recognize, Locate, Eliminate

Carpet chemical foaming, rubbing and cleaning with professionally disk machine. Concrete floor regular cleanup. Cleaning service.

2026 March

The Post-Winter Glow-Up

Simple Spring Cleaning Tips

New York, New York, USA at New York City Hall in the morning time.

2026 March

Local Façade Law Overview

Different Cities—One Goal

Sidewalk Sheds—Expensive Eyesores

Sidewalk sheds are a frequent sight—and frequently a point of contention—across all five boroughs. Put up to facilitate …

2026 March

Local Façade Law Overview

Different Cities—One Goal

Block of historic buildings along Duane Street in the Tribeca neighborhood of New York City NYC

Preparing for Façade Work

Steps to Take Before the Scaffold Goes Up

Hoboken, NJ, USA: A meticulous house restoration project featuring a striking brownstone entrance and a stunning building facade renovation.

Access Agreements Bill Awaits Hochul's Signature

New Law Aims to Bring Clarity to a Gnarly Process

New York, USA - April 24, 2022: Exterior of New York's Petrossian restaurant is housed in the historic Alwyn Court Building on Manhattan's West Side

2025 March

Exterior Repair & Maintenance in Historic Buildings

Good Old Things

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20% Of NY Metro Households Have Pest Problems

Aging Housing Stock Partly to Blame

The U.S. has long suffered from an inadequate supply of housing. From a slow recovery in new construction after the Grea…

Spring Maintenance

Warmer Days Ahead

What about the environmental impact of LED Lighting? How much energy does it save?

Lobby Decor

To Furnish, or Not to Furnish?

What Are the Most Effective Steps Boards Can Take to Fight Pests?

Hint: Keep it Clean!

Organizations

Building Pros Form Manhattan Vendors Group (MVG)

Consortium Aims to Connect Vendors Serving Co-ops & Condos

IREM Announces Diversity & Inclusion Succession Initiative Leaders

Program Fosters Leadership & Recognition of Underrepresented Groups

32BJ SEIU President Issues Statement on Pandemic & Police Brutality

"Our Members Find Themselves in Double Jeopardy"

IREM Establishes COVID-19 Relief Fund

27 Chapters on Board So Far

REBNY Launches Coronavirus Resource Hub

Connecting Members and Non-Members Alike

Design

Close-up of hands cutting upholstery fabric with large scissors while restoring vintage furniture in a workshop.

Updating Your Lobby Furnishings

Reupholster, or Replace?

Common Area Design

Balancing Form & Function

Mailbox & Package Room Design

More Than Just Boxes & Keys

Spring Awakening

Sprucing Up for the Season

Aesthetic Rules

Balancing Community Value with Individual Rights

Insurance

Businessmen balance himself on percentage signs. Central bank money policy for inflation or interest rate, balance between profit and loss, financial challenge or risk, economic recovery concept.

Rising Insurance Premiums

High Costs Force Tough Decisions for Boards

Adequate Community Insurance Coverage

How Much is Enough?

Insurance Premiums Skyrocket

90% of Multifamily Communities Report Paying More - What's to Blame?

Financial, Physical, & Operational Health

How Does Your Association Measure Up?

Insurance in the Multifamily Setting

Knowing Who Covers What is Key

News

6/2/2026 Luxury Development in NYC’s ‘Gritty’ East Village Quickly Sells Out as Last Penthouse Goes for $10M - Realtor.com

One of the last neighborhoods in Manhattan to retain some of the gritty allure of "old New York" is catching up in price point to swankier neighborhoods like the West Village and Chelsea. All 18 units ranging in price from $1 million to $10 million of an under-construction luxury development at 220 East 9th St. in the East Village sold out in 11 weeks, with the final unit going under contract just days ago.
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5/29/2026 $6M NYC condo to be forfeited by court order in the multibillion-dollar 1MDB sovereign wealth fraud - New York Post

The US government has obtained a judge’s order for the forfeiture of a $6 million luxury condo in the Flatiron district bought with money stolen from 1MDB, a Malaysian sovereign wealth fund at the center of one of the largest financial frauds in history, Gimme Shelter has learned exclusively.
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5/22/2026 Changes to lending rules from Fannie Mae and Freddie Mac alarm NYC condo buildings - Brick Underground

New York City condo buildings where buyers tend to rely on conventional financing face a looming deadline. New, stricter lending guidelines are going into effect with the potential to limit mortgage eligibility, shaking up many condo buildings across the city.
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5/20/2026 First look at Paragon, Long Island City’s first new waterfront condo in a decade - 6sqft

Here’s an exclusive look at the first new condo development built on the Long Island City waterfront in more than a decade. Developed by ZD Jasper and designed by Archimaera, the 23-story Paragon at 45-40 Vernon Boulevard incorporates the historic Paragon Paint Factory into the tower’s base.
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5/18/2026 This $22.5M maisonette offers townhouse privacy with classic Upper East Side co-op luxury - 6sqft

Known for their privacy and old-world Manhattan cachet, maisonettes often sound better in theory than in reality. But this massive 5,000-square-foot home at 2 East 70th Street on the Upper East Side, asking $22,500,000, delivers a reality that includes a private four-bedroom Fifth Avenue address, two floors of townhouse-style living, Central Park views, and all the perks that come with one of the city’s most coveted Rosario Candela co-ops.
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5/14/2026 Landmarked artists’ housing building on Billionaires’ Row is reborn as luxury condos - 6sqft

A landmarked building on Billionaires’ Row has been transformed into 47 luxury condos. Sales launched this week at Parc Beaufort, a 14-story tower at 140 West 57th Street originally built in 1908 as housing for artists. Led by the Feil Organization and MdeAS Architects, the conversion of the luxury condo preserved the building’s historic pre-war character while adding contemporary interiors by AD100 firm Stephen Sills Associates. Residences, ranging from studios to three-bedrooms, start at $955,000.
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5/12/2026 Another multimillion-dollar condo is selling at NYC’s famed Flatiron Building — as the highly anticipated conversion is nearly 33% sold - New York Post

Sales at the Flatiron Building certainly aren’t falling flat. Another unit inside the storied Manhattan edifice has entered into contract, according to Monday’s Olshan Luxury Market Report. The four-bedroom, 4.5-bathroom dwelling spans 3,889 square feet and asked $17.62 million for sale.
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5/6/2026 Renderings Revealed for Elodie At 439 East 77th Street on Manhattan’s Upper East Side - New York YIMBY

Renderings have been revealed for Elodie, a seven-story residential building under construction at 439 East 77th Street in the Lenox Hill section of Manhattan’s Upper East Side. Designed by ARC Architecture + Design Studio and developed in a joint venture between Salomon Cojab of Visabe Corp. and Jack Ezra Cattan of Urban Spring Capital called Grand Cru Real Estate, the 74-foot-tall structure will span 33,190 square feet and yield 16 condominium units with an average scope of 1,807 square feet.
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5/4/2026 The Pied-à-Terre Tax and Its Potential Revenues - Comptroller.NYC.Gov

A number of new taxes have been proposed this winter and spring to address the City’s structural budget gap. They range from a surcharge on high-income Personal Income Tax filers, to a partial recapture of the federal tax benefits accruing to Pass-Through Entity Tax filers, to higher rates for the City’s business income taxes, to higher real property transaction taxes on luxury properties at time of sale. One of the most likely, and possibly only, new tax revenue to be included in the FY 2027 State budget is a tax on pied-à-terre properties in New York City.
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4/30/2026 First look at The Morgan, an 18-story luxury condo rising on a tree-lined block in Murray Hill - 6sqft

The first images have been revealed for a new 18-story luxury condo taking shape on a tree-lined block in Murray Hill. Developed by the Continuum Company and Aksoy Holding and designed by INC Architecture & Design, The Morgan at 38 East 35th Street will include contemporary residences ranging from studios to three-bedrooms, along with select duplexes and penthouses. The developer has also launched a teaser website for the building along with the newly released renderings.
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4/29/2026 A Superluxury Condo Sold for $87.7 Million. Will NYC’s New Pied-à-Terre Tax Apply? - The City

A Billionaires’ Row penthouse that sold for $87.7 million. Sting’s pad overlooking Central Park, bought for $65.7 million. A Trump Tower apartment owned by Donald himself. These properties might seem like exactly the type of real estate that stands to be hit with a newly proposed “pied-à-terre” tax, which takes aim at high-priced homes that aren’t people’s primary residences.
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4/27/2026 Willdan Wins $27 Million Contract to Redesign and Implement New York City Accelerator Program - Business Wire

Willdan Group, Inc. (NASDAQ: WLDN) announced today that it has been awarded a $27 million, three-year contract with the New York City Mayor’s Office of Climate & Environmental Justice to redesign and implement the NYC Accelerator program. This program helps building owners and stakeholders reduce greenhouse gas emissions, comply with Local Law 97, and advance the City’s sustainability and green jobs objectives.
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4/23/2026 A Superluxury Condo Sold for $87.7 Million. Will NYC’s New Pied-à-Terre Tax Apply? - The City

4/21/2026 Battery Park City Authority tells court it can’t move forward with Lower Manhattan flood protection work without condo access - AmNY

The state authority behind a $2 billion Lower Manhattan flood resiliency project says a condo owner’s refusal to let it into their building could derail the coastal flood risk management system it’s working to build along the southern tip of Manhattan.
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4/16/2026 Fitness studio inks long-term lease at Gramercy condo building - Crain's

A fitness studio with three locations across New York City has signed a long-term lease in Gramercy.
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4/14/2026 This $16.4 Million N.Y.C. Condo Comes With Sprawling Views of Central Park - Robb Report

When property developer Daniel Grollo and his family relocated from Melbourne, Australia, to New York City in 2012, records indicate he acquired a multi-unit combination apartment on the 21st floor of the Trump Parc building overlooking Central Park for $14.25 million. Records show the following year he dropped $700,000 on a small adjacent unit, and in 2016, ponied up another $2 million for two more small units on the same floor, bringing his total outlay to just under $17.1 million.
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4/10/2026 HGTV design couple has their newest project — a boutique NYC condo that will also be their home - NY Post

Bob and Cortney Novogratz are moving to a modern penthouse in “Dimes Square,” Manhattan’s ever-trendy micro-nabe between the Lower East Side and Chinatown, Gimme Shelter can reveal. But first, they have to build it.
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4/8/2026 Undivided Launches Condo Rating System to Bring Transparency to NYC Luxury Market - CityBiz

Undivided, a boutique New York City residential brokerage specializing in luxury condominiums, has launched the Undivided Value Index, a proprietary building scoring framework designed to give high-net-worth buyers structured, independent analysis of NYC condo buildings before they purchase.
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4/6/2026 New look at Fifth Avenue’s tallest residential tower, 262 Fifth Ave - 6sqft

New renderings of Fifth Avenue’s tallest residential building were released this week as sales kick off at the condominium. Developed by Five Points Development and designed by Meganom, 262 Fifth Avenue is a 52-story tower in Nomad with only 26 full-floor and duplex residences. In addition to new images, the developer launched a teaser website for the building and announced a new sales team from Sotheby’s International Realty.
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4/3/2026 Co-ops and Condos United of NY launches to establish advocacy for homeowners - New York Real Estate Journal

A coalition of co-op and condo owners from across the five boroughs have formed Co-ops and Condos United of NY, a grassroots advocacy group charged with representing the interests of the more than one million New York homeowners who live in this type of housing. Co-ops and Condos United of NY has been established to ensure the voice of this critical community is not left behind. Co-ops and Condos United aims to ensure that this significant constituency has a strong, coordinated voice in legislative and policy discussions at both the city and state levels.
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