CooperatorNews New York, The Co-op & Condo Monthly

New this week

Proposed Legislation Seeks to Increase Transparency in Co-op Denials

It's Not Us...it's You

Once again, a push to pass legislation requiring co-op boards to disclose their reasons for rejecting would-be sharehold…

Celebrity Homebuying

Brokering the Rich & Famous

Q&A: Subleasing a Co-op

Popular Co-op-Sponsored Street Fair Resumes on Hester Street This Spring

Seward Park Partners With New Event Operator

Transparency & Community Governance

Are Co-ops & Condos Really Democracies?

Management

Board Style & Management

Hands-on vs. Hands-off

Condos and co-ops are unique in their management structure, of which there are two levels: the board of the association …

Management

2021 January

Self-Management in Stressful Times

Some Communities Go it Alone—Others Outsource

2021 January

Inspection Timetables

Maintaining Maintenance, Keeping Your Building Healthy

2021 January

Management in Crisis:

How the Pandemic Changed an Industry

2020 November

Virtual Governance

How Co-ops & Condos Hold Meetings Distantly

Finance

Home Office Expense?

Don't Deduct That Just Yet

As we all know - and are probably sick of hearing at this point - the past year has been a time like no other. Many of …

Finance

NYC Residents Pay $5,633 in Annual Property Taxes

City Ranks Sixth Highest in the Nation

Anatomy of a Condo Loan

One Building's Case Study

Using Reserves to Cover a Cash Shortage

Two More Views on a Possible Financial Lifeline

2020 July

The Price is…Right?

Adjusting Valuations for Pandemic’s Impact

On The Board

Getting Residents Interested in Board Service

Overcoming Apathy

While residents generally like the idea of community that living in a condominium or co-op provides (that’s why many opt…

2021 March

Board Style & Management

Hands-on vs. Hands-off

Airbnb vs. COVID-19

Governors, Boards & Residents Support Short-Term Rental Ban

2020 May

Social Distancing in Co-op & Condo Buildings

Living Apart, Together

2020 May

We’re All in This Together

One Co-op’s Response to the COVID-19 Crisis

Technology vs. COVID-19

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

It’s become axiomatic that over time, technology gets smaller, more efficient, and more capable of multiple increasingly…

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

Managing Multifamily Buildings

What Are the Biggest Challenges?

Neighbor Noise

When Enough is Too Much

Noise is an acknowledged part of urban life - particularly apartment living. Some of it - traffic, garbage collection, …

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

Conflict in Client Communities

What's the Manager's Role?

Maintenance

Adjacent Construction Risk Management

The Building (or Demolition) Next Door

Cities reshape and reinvent themselves regularly and organically. Old buildings become obsolete for a variety of reasons…

Managing Exterior Repair Projects

Advice from a Legal Pro

2020 November

Climate Change & Building Maintenance:

The Chicken & the Egg

2020 November

Cleaning Through COVID

Maintaining Sanitation—and Sanity—in Multifamily Housing

NYC to Explore Using Drones for Facade Inspections

City Council Orders DOB Study

Adjacent Construction Risk Management

The Building (or Demolition) Next Door

Cities reshape and reinvent themselves regularly and organically. Old buildings become obsolete for a variety of reasons…

NYC to Explore Using Drones for Facade Inspections

City Council Orders DOB Study

2020 April

When Interior Renovations Become Exterior Issues

Coping With Construction

Window Deterioration

Recognizing the Main Culprits

Local Law 97

How Will it Affect Your Building?

Spring Maintenance

Warmer Days Ahead

Though 'winter' in these days of shifting, warming climate tends to involve more chilly rain and slush than the snowdrif…

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!

Pest Issues in Multifamily Buildings

What Are the Toughest Ones to Address?

Organizations

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

REBNY Launches First-of-its-Kind Fellowship Program

Group Aims to Cultivate Diversity in the Real Estate Industry

BTEA Announces COVID-19 Resource Center

Online Center to Provide Up-to-Date Information for Contractors

Design

Luxury Lobbies

Sought-After Amenity...or Artifact?

Snow, Salt, & Scent Design

Preparing for Inclement Weather - and Moods

What's Happening in Design

Adapting Common Spaces to the New Normal

Seeking Safe Outdoor Spaces

Roof Decks Become Even More Valuable During COVID

Fitting in Fitness

How to Get the Most out of an In-Building Gym

Insurance

Insurance Coverage vs. COVID-19

Co-ops & HOAs May Be Left Holding the Bag

The NY Policy Holders Protection Act

What's it to You?

A Hard Market

Understanding the Current Insurance Cycle

The Claim Conundrum

When to File vs. When to Pay

Warranties and Service Agreements

What You Should Know About Coverage

News

4/13/2021 Family sues over death of war hero crushed in Soho crane accident—New York Post

The family of an Army war hero and father of four who was fatally crushed in a Manhattan crane accident two years ago has filed a wrongful death suit over the incident, new court papers show.
Read full story

4/12/2021 NYC mayoral candidates weigh in on changing unfair property tax system that burdens poor and middle-class neighborhoods—New York Daily News

For years, New York City’s property tax system has come under fire because homeowners in poor and middle-class neighborhoods often pay more than people who own more valuable homes in tonier parts of town.
Read full story

4/12/2021 NYC Co-Op Boards Would Have to Explain Why They Deny Buyers, Under New Bill—The Wall Street Journal

State lawmakers are proposing new rules that would require New York City co-op boards to state why they rejected a potential apartment buyer, seeking to end a longstanding practice that critics say facilitates housing discrimination.
Read full story

4/12/2021 UPDATE: Proposed Taxes on Mezzanine and Preferred Equity Financing and "Pied-à-Terre" Taxes Not Included in Final New York Budget Bill—National Law Review

Late on Wednesday, April 7, the New York State legislature passed the State’s budget for the 2021-22 fiscal year.
Read full story

4/9/2021 Sponsors and Holders of Unsold Shares: Everything Old Is New Again—Law.com

Recent decisions have revived the discussion about rights of sponsors and holders of unsold shares in residential cooperative corporations.
Read full story

4/9/2021 Bronx’s Co-Op City could get $100M for building repairs if HUD approves: Schumer, Bowman—New York Daily News

Co-Op City in The Bronx could free up $100 million for capital improvements and repairs at the decades-old housing development by pursuing a lucrative loan refinancing deal — but the Biden administration first needs to sign off it, according to a couple of New York lawmakers.
Read full story

4/8/2021 Fifth Avenue Co-Op of Philanthropist Jayne Wrightsman Gets $11 Million Price Cut—Mansion Global

The $50-million price tag on the classic Fifth Avenue co-op owned by legendary New York City arts patrons Charles and Jayne Wrightsman has been reduced to $39 million.
Read full story

4/8/2021 Mayoral Candidates Want to Convert a Tundra of Empty Offices, Hotels Into Housing—Commercial Observer

When Gov. Andrew Cuomo ordered offices to effectively shutter as the pandemic bore down last spring, New York City’s work habits changed inexorably and millions of square feet in commercial inventory suddenly sat fallow.
Read full story

4/8/2021 Townhouse vs. condo debate rages as NYC real estate rebounds—New York Post

It’s no secret that New Yorkers love to debate: Uptown or downtown? East Side or West Side? Ess-a-Bagel or Bagel Hole?
Read full story

4/8/2021 200 Amsterdam’s condos are back on the market—The Real Deal

After a year of court battles, the condos at 200 Amsterdam Avenue are back on the market.
Read full story

4/7/2021 Related’s 15 Hudson Yards lands $108M condo inventory loan—The Real Deal

After a rough year for luxury condo sales in Manhattan, Related Companies and Oxford Properties Group sewed up a loan for unsold condos at 15 Hudson Yards earlier this week, records show.
Read full story

4/7/2021 NYC Property Tax Overhaul Fizzles Out Amid Pandemic, Politics—Bloomberg Tax

Almost every year since 1992, the governor of New York has granted a request by New York City’s mayor and City Council to shave property tax bills for a sliver of wealthy residents.
Read full story

3/30/2021 L+M Development Exploring Purchase of Knickerbocker Village—Bowery Boogie

Knickerbocker Village, one of the largest residential complexes in the city, is exploring a possible sale to L+M Development Partners, several tipsters tell us.
Read full story

3/30/2021 NYC Program Offers Up To $40,000 Toward Your Down Payment Or Closing Costs For 1-4 Family Home CoOp Or Condo—EastNewYork.com

Although East New York and Brownsville are not yet seeing home prices in the $2 million range like in Bed-Stuy, the prices are absolutely increasing.
Read full story

3/30/2021 New Requirement For New York Landlords: Reasonable Accommodation Notice For Persons With Disabilities—JD Supra

A change in state law that takes effect this month now requires New York residential landlords to distribute disability accommodation notices to all current tenants by April 1, 2021, and to all new tenants within 30 days of beginning their tenancy.
Read full story

3/25/2021 Property Manager Accused Of Stealing $480,000 From Community In Area—Putnam Daily Voice

A property manager has been accused of stealing nearly half a million dollars from a co-op community in the area.
Read full story

3/25/2021 Should You Rent Out an Empty Apartment as Work-from-Home Space?—Motley Fool

Working from home has been a major culture shift for many people during the pandemic.
Read full story

3/23/2021 Extell Development Lost $206M in 2020—Commercial Observer

Extell Development Company, one of the city’s most visible luxury developers, reported a loss of $206 million in 2020, as a result of falling property values, higher financing costs, and the sale of some of its holdings and interests, according to its annual financial report on the Tel Aviv Stock Exchange.
Read full story

3/23/2021 Stunning Luxury Contemporary Condominium Conversion Combining Two Historic Pre-War Buildings in New York Announce Sell-Out—MultifamilyBIz

350 West 71stStreet, the luxury conversion that beautifully combined two historic pre-war buildings into one stunning contemporary condominium on the Upper West Side of Manhattan – today announced that the last remaining unit, a four-bedroom, three-and-a-half bathroom, has sold.
Read full story

3/23/2021 Con Edison & Partners Placing Solar Panels On NYC Housing Authority Developments—KPVI News

Twelve newly trained solar installers are placing panels on New York City Housing Authority developments to provide clean power at discounted rates for low- and moderate-income subscribers.
Read full story

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Recent Articles

Proposed Legislation Seeks to Increase Transparency in Co-op Denials

A Moratorium on the Moratorium?

Celebrity Homebuying

The Cooperator Events Presents: Do it Right, Make it Better - Enhancing Your Annual Virtual Meetings

Popular Co-op-Sponsored Street Fair Resumes on Hester Street This Spring