2022 NY Fall Expo Seminar: Amending the Lease and By-laws vs. Passing House Rules - How Smart Boards Govern Sponsored by: Smith, Buss & Jacobs LLP

By Cooperator Studio 31 October 2022 Seminars

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News

8/6/2026 Aggressive HOAs are running out of money and foreclosing on more residents than ever before - New York Post

America’s homeowners associations are running out of money — and patience. Amid rising insurance premiums, drained reserve funds and increased safety measures in the wake of the Surfside condominium collapse, the country’s hundreds of thousands of homeowners associations are cracking down on delinquent residents.
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8/4/2026 NYC extends pied-à-terre tax exemption deadline by 4 weeks amid confusion - 6sqft

New York City has given homeowners who received notices that they may be subject to the new pied-à-terre surcharge an extra four weeks to apply for exemptions, following criticism over the rollout of the notices. Mayor Zohran Mamdani and Department of Finance (DOF) Commissioner Richard Lee on Saturday announced the deadline extension, which gives eligible property owners until September 18 to submit exemption applications for surcharges on their non-primary residences. The city began notifying eligible property owners late last month, and the rollout came under heavy criticism from some homeowners who said they received notices despite not qualifying for the new tax.
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7/31/2026 Kings Capital snaps up vacant NoLita lot with plans for boutique condo building - Crain's

A Chelsea-based real estate firm has purchased a development site in Manhattan’s trendy NoLita neighborhood with plans to turn the property into a boutique condo building.
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7/29/2026 Co-op and condo group makes affordability pitch to NYC’s affordability mayor - Gothamist

Rents are not the only thing driving up housing costs for New Yorkers. The Council of New York Cooperatives and Condominiums says rising prices for insurance, fuel and maintenance are threatening to push residents out of some of the last bastions of affordable homeownership in New York City: co-ops and condos.
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7/27/2026 Property Dispute Forces Redesign of $2B Flood Wall for Battery Park City - The City Reporter

Part of an embattled flood protection project in Lower Manhattan will need a redesign after local condo owners and a state entity couldn’t reach a deal on access to private areas during construction — keeping public space closed for longer and delaying a climate resilience effort that’s been in the works for more than a decade.
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7/24/2026 Which NYC neighborhoods top the most expensive list of the year thus far? The devil is in the details. - amNY

Buying a home in the city is more expensive than ever with a citywide median sale price of $825,000 compared to the same time period last year, according to an analysis of residential real estate sales released Wednesday by Property Shark.
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7/22/2026 How a leaky toilet spiraled into a NYC apartment left in ruins and a 9-year lawsuit seeking $750K in damages - New York Post

It all started on a soggy Sunday afternoon in June 2017 — and has since grown into a rather crappy ordeal. Gary Paul was sitting on the toilet in his Upper West Side studio co-op apartment reading the paper when he claims he noticed brown dirt oozing down his bathroom mirrors. Looking up, he said he saw the crown molding splitting. Then came the sound: water rushing inside the walls, running down the pipes.
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7/20/2026 Inside the 500-Foot Boutique Condominium Coming to New York’s Greenwich Village - Robb Report

A new residential tower rising just off Fifth Avenue is set to reshape the Greenwich Village skyline—much of it has remained under wraps, but Robb Report just got a first look. Developed by Legion Investment Group and EJS Group, the aptly named Greenwich Spire at 11 West 13th Street will measure a lofty 500 feet tall but offer just 34 residences, adding a layer of exclusivity.
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7/16/2026 Harlem to get 11-story condo with 72 residences and a daycare - 6sqft

Plans to build an 11-story condominium in Harlem are moving ahead after the development team secured $45 million in construction financing this week. SCALE Lending, the debt financing arm of Slate Property Group, announced Tuesday that it issued the loan to Mass Development for the multifamily project at 264-272 West 135th Street. The ground-up building will feature studio to three-bedroom condos, half of which will include balconies, along with retail space, community facility, and resident amenities.
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7/14/2026 Manhattan luxury real estate market plummets after Mamdani pied-à-terre tax goes into effect - NY Post

Manhattan’s luxury real estate market ground to a halt last week, with just one trophy home asking more than $10 million entering contract — as brokers told The Post that anti-wealth rhetoric from Mayor Zohran Mamdani and the controversial pied-à-terre tax are spooking affluent buyers.
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7/10/2026 Developer of buckling NYC building facing $376M claims for ‘life-threatening’ shortcuts at celeb enclave - New York Post

MetroLoft, the developer behind the Manhattan high rise that suddenly buckled on Tuesday, is facing a $350 million-plus lawsuit at star-studded 443 Greenwich St., home to names including Rebel Wilson, Harry Styles and Meg Ryan over the last decade.
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7/8/2026 New York’s luxury new development market is on fire - The Real Deal

New York City's new development market continues to be a tale of two markets.
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7/2/2026 Inside the swanky midtown building near Billionaires Row where staff finally said enough and walked out - New York Post

Residents at a swanky Midtown West condominium near Billionaires Row are getting a crash course in DIY living this week after their building staff walked off the job, leaving million-dollar apartment owners to open their own doors and haul their own trash.
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7/1/2026 Gateside surrenders $44M units in luxury condo building to avoid foreclosure - Crain's

Real estate firm Gateside Corporation has surrendered two of its units in Lenox Hill’s luxury condo tower The Royale to stave off foreclosure.
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6/29/2026 Luxury NYC Co-ops Are Outselling Condos for the First Time in 4 Years - Realtor.com

For the first time since October 2022, elite New Yorker homebuyers opted for the co-op over the condominium, according to a new report.
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6/25/2026 $15M penthouse in a gold cupola high above Fifth Avenue heads to auction this month - 6 sqft

Just in time for those trillion-dollar IPOs, a unique trophy penthouse will be up for auction this summer. Set into the iconic golden cupola atop the Sohmer Piano Building at 170 Fifth Avenue, adjacent to the Flatiron Building, this renovated penthouse condo has pride of place on the New York City skyline. The commanding sky palace, spanning over 5,000 square feet on two floors with a private roof deck, is asking $14.9 million. In an upcoming auction, bids are expected to start between $6 million and $9 million.
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6/23/2026 New Brooklyn condo development lands $75M construction loan - Crain's

A ground-up condo development in Flatbush has received a big financial boost.
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6/18/2026 This Upcoming N.Y.C. Condo Will Offer Just 5 Apartments - Robb Report

Not everything in the Big Apple is all that big. Robb Report got an exclusive first look at 44 West 8th Street, a new luxury condo coming to Greenwich Village that will bring just five residences to the upscale Manhattan neighborhood.
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6/15/2026 NYC condo sues former ‘SNL’ band member who tore through building in a violent rampage — seeking a forced sale of his home - New York Post

An Upper West Side condo is seeking to force a former “Saturday Night Live” band member from the building — and, no, not for playing jazz too loud.
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6/12/2026 New York just extended the J-51 tax abatement. Here are five key details condo and co-op boards need to know - Brick Underground

Governor Kathy Hochul’s $269 billion state budget revived a crucial tax break aimed at helping co-op and condo buildings complete essential capital improvements. The J-51 tax abatement, which was set to expire at the end of the month, is now back with expanded eligibility and bigger benefits. “We hit a three run triple,” said attorney Bruce Cholst, a partner at Herrick, Feinstein who was involved in lobbying for the legislation.
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2022 NY Fall Expo Seminar: Amending the Lease and By-laws vs. Passing House Rules - How Smart Boards Govern Sponsored by: Smith, Buss & Jacobs LLP

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