Page 3 - NY Cooperator November 2019

COOPERATOR.COM THE COOPERATOR — NOVEMBER 2019 3 TABLE OF CONTENTS EleVator ReFUrBisHMent No matter how well constructed and carefully maintained, no mechanical system lasts forever – and that goes for elevator cabs and equipment just as much as it applies to roofs or boilers. At some point, your building’s vertical transportation comes to the end of its useful life, and the inconvenience of refurbishment and replacement becomes a reality for residents. If you live on a lower fl oor – say the fi rst, second, or even the third story – the inconvenience may not be too severe. If you live in a building with multiple elevators, it’s unlikely that more than one will be taken out of service for upgrading at a time. PAGE 1 Maintaining Air QUalitY Any time you have hundreds or even thousands of people living in close quarters – in a multifamily co-op or condo building, say – certain challenges inevitably will arise. One of the bigger ones is how to maintain the fl ow of fresh, hygienic air into the build- ing and provide for the out-venting of stale air, fumes, and odors. PAGE 1 FirePlace SaFetY and Maintenance Some lucky New Yorkers can come home from work on a cold winter’s night and warm their feet by a roaring fi re while drinking a hot toddy. A working fi replace is a coveted amenity for many, adding a dash of vintage charm to prewar apartments or a touch of luxury in sleek newer buildings. But hot toddies aside, maintaining a fi replace in your apartment is no small task. From regular cleaning to proper vent- ing, taking care of a working fi replace is a serious responsibility – and crucial for the safety of both people and property. PAGE 1 Yale Robbins Publisher Henry Robbins Executive Vice President Joanna DiPaola Associate Publisher Hannah Fons Senior Editor Darcey Gerstein Associate Editor Pat Gale Associate Editor Shirly Korchak Art Director Anne Anastasi Production Manager Victor Marcos Traffi c Coordinator Alan J. Sidransky Staff Writer Rick Levin Director of Sales The Cooperator is published monthly by Yale Robbins Publications, LLC, 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner associations. POSTMASTER: Send address changes to The Cooperator, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Publications, LLC 2019. All rights reserved. Application to mail Periodicals postage rates is pend- ing at New York NY. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us at: cooperator.com/subscribe cooperator.com InHeriting Co-oP SHares Say you and your spouse own a single-family home. You’ve got two grown kids and a couple of grandchildren. When the time comes, assuming your will and other end- of-life documents are in order, seeing to it that your property and assets are passed along as you wish is a fairly straightforward process – a home is real property, aft er all, and laws of succession were practically invented to assure the transference of such property to one’s heirs without a lot of hassle. PAGE 14 ON THE WEB... Managing ConFlicts PAGE 6 PaYing OFF UnderlYing Mortgages PAGE 6 Pre-Winter Maintenance PAGE 6 IndUstrY PUlse/Calendar PAGE 4 Q&A PAGE 5 MarKetPlace PAGE 18