Advice for New Board Members Wise Words From Legal Pros

By Cooperator Studio 2017 February Board Member 101

Legal pros give some sage advice to new board members

Being elected or appointed to one's co-op or condo board is a big responsibility; these industry professionals have a few words of advice for those just embarking on the journey.

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News

11/26/2025 Art Collector Sells $28.38 Million Ritz-Carlton New York Condo—With All the Proceeds Going to Charity - Mansion Global

Philanthropist Roger Sant has found a buyer for his high-rise condo directly across the street from Manhattan’s Central Park, and the $28.38 million in proceeds will be donated to the Sant family’s Summit Foundation.
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11/24/2025 Inside a $12 Million N.Y.C. Condo With Views of the Statue of Liberty and Governors Island - Robb Report

Once they were wed, real estate developer Bill Caleo and interior decorator Megan Noetzel began searching for a primary residence in New York City that could accommodate their blended family with a total of four children from previous marriages. They wound up purchasing two unfinished units on the 26th floor of the then-new Quay Tower high-rise in the Brooklyn Heights neighborhood in 2020, and then set out to adapt the space to suit their specific needs.
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11/20/2025 Eliot Spitzer proposes taller Fifth Avenue condo tower - 6 sqft

Former New York Gov. Eliot Spitzer is seeking to increase the height of his proposed Upper East Side condo project, which would replace a 1970s-era rental building with 26 luxury residences. During a Tuesday Landmarks Preservation Commission public hearing, Spitzer proposed using City of Yes zoning reforms to raise his planned development at 985 Fifth Avenue from 19 to 20 stories, replacing a 25-story rental building approved for demolition in 2023. Other proposed changes include a textured limestone facade, a rear yard extension, and the removal of an adjacent public plaza.
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11/13/2025 New York Condo Real Estate Attorney Peter Zinkovetsky Details Tax Benefits Of Owning A Condo In NYC - Open PR

New York condo real estate attorney Peter Zinkovetsky of Avenue Law Firm (https://www.avenuelawfirm.com/tax-benefits-of-owning-a-condo/) released new guidance outlining the key tax advantages available to condominium homeowners in New York City. The advisory highlights how condo owners can leverage the Cooperative and Condominium Tax Abatement, STAR program tiers, senior exemptions, green roof incentives, and targeted deductions under current federal and city rules. The overview explains eligibility requirements, deadlines, and documentation standards, giving condo buyers and unit owners a clear roadmap to maximize savings with the support of a New York condo real estate attorney.
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11/11/2025 EXCLUSIVE: Ozzy and Sharon Osbourne’s L.A. Condo Hits the Market for $2.4 Million—3 Months After Rocker’s Death - Realtor.com

Ozzy Osbourne's stunning West Hollywood, CA, condo has hit the market for $2.375 million, less than four months after the rock 'n' roll legend died in his native England.
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11/7/2025 NYC landlord sues developer of nearby condo for $2.8M due to damages that displaced tenants for 2.5 years - NY Post

Don’t call it a block party. Roughly three years before a lavish penthouse at 16 Fifth Ave. recently listed for a breathtaking $45 million, construction kicked off at the luxury condominium where it’s housed. During the time in between, the high-end development deeply rankled a group of locals who live down the block. Not only were they displaced for more than two years due to damages to their own building from the nearby work, but the condo’s developer paid only to put them up briefly in a hotel after they were forced to flee.
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11/5/2025 How A$AP Rocky’s $11M NYC Condo Allegedly Turned Into an ‘Uninhabitable’ Nightmare for Neighbors— Who Just Sued - The Root

Rapper A$AP Rocky was seemingly having the best week ever. He just received the coveted Fashion Icon Award at the 2025 CFDA Fashion Awards on Monday (Nov. 3), and his heartfelt comments for his partner Rihanna during his acceptance speech went viral. But his week turned sour after his New York City neighbor accused him of being less than neighborly… and causing massive damage to their unit.
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11/3/2025 An $85M NYC penthouse atop a former parking garage could set a new downtown price record - NY Post

The top of this century-old parking garage is looking for an $85 million buyer. The forthcoming penthouse pad sits atop 125 Perry St., Mansion Global reported. And if it sells for that sum, it could break the record for the most expensive ever sold in downtown Manhattan.
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10/27/2025 The tradition behind why so many NYC buildings are missing this floor - NY Post

Superstition may be irrational — but in New York City, it’s a bit of a tradition. Just ask Bravo titan Andy Cohen, who recently handed over the keys to his West Village duplex for $10.5 million.
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10/24/2025 Six UES Buildings Set for Demolition as Chinese Mega-Developer Plans New Luxury Condo - East Side Feed

Chinese real estate developer Zhang Xin is expanding her U.S. portfolio with plans for a new luxury condominium development on the Upper East Side.
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10/21/2025 Billionaires' Row skyscraper where J-Lo and A-Rod lived is covered in CRACKS and could be abandoned after developers insisted on white concrete facade - Daily Mail

Its bizarre proportions rise unnervingly for 102 floors above New York City's toniest streets. And now building safety experts say there is good reason to be unsettled by 432 Park Avenue, a super-tall but ultra-skinny condo tower filled with 125 apartments on Manhattan's 'Billionaires' Row.'
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10/17/2025 How Do New York City Property Taxes Work in Condos and Co-Ops? - Mansion Global

Every week, Mansion Global poses a tax question to real estate tax attorneys. Here is this week’s question. Q. I'm new to New York City. How do property taxes work in condos and co-ops, as opposed to a standalone house elsewhere in the country?
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10/14/2025 An iconic NYC landmark is becoming an apartment building — with records revealing luxury perks - NY Post

The Flatiron Building is certainly one of New York City’s most recognizable landmarks — but information regarding its highly anticipated condominium conversion has been kept far from the public eye. Now, however, some details on the hush-hush development are coming to light.
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10/7/2025 Explosion causes collapse at NYCHA Bronx apartment building - ABC News

There were no reports of injuries after an explosion in the Bronx caused a partial collapse of a high-rise apartment building on Wednesday morning. It happened at NYCHA's Mitchel Houses on Alexander Avenue in the Mott Haven section just after 8 a.m.
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10/6/2025 Manhattan’s luxury housing market is booming and bucking national trends — but for how long? - New York Post

While luxury housing markets from Dallas to Miami are struggling to keep pace, Manhattan’s high-end sector is one of the few bright spots. Sales of the borough’s priciest homes surged in the third quarter, even as nationwide numbers slid to their weakest summer in more than a decade. Yet a slowdown in the month of September — and the looming uncertainty of New York’s mayoral race — suggests the city’s luxury surge may not be on unshakable ground.
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10/3/2025 Flatiron Building condos will have enormous great rooms, unique layouts, and prices from $10.95M - 6sqft

More details have been revealed for one of New York City’s most anticipated new developments. The Flatiron Building at 175 Fifth Avenue is being converted to condominiums after over a century as a commercial property. With the offering plan officially accepted by the New York State Attorney General’s office last month, new information on prices, floor plans, and amenity spaces is now public. In the offering, apartments at the 22-story landmarked Beaux-Arts tower start at $10,950,000 for a three-bedroom, with the most expensive listed at $50 million for a five-bedroom.
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9/30/2025 $19.75 Million Central Park Condo in World’s Skinniest Skyscraper Tops NYC Luxury Sales - Realtor.com

The top residential sale in Manhattan last week is in the world's skinniest skyscraper, The Steinway Tower on Billionaires Row.
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9/29/2025 Entertainment lawyer for Madonna, Live Nation lists Plaza condo for $48M - Crain's

An entertainment lawyer who has worked with Madonna, Michael Bolton and Men at Work is looking to hit a high note in selling his Plaza District apartment.
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9/25/2025 Can condo conversions be a good pathway to homeownership? - New York Amsterdam News

In New York City, buying a home is a daunting process. There are down payments, negotiations, inspections, unexpected fees, closing costs, and much more, and that’s in the midst of simply trying to find a home in one of the most expensive housing regions in the world. But condominium conversions have emerged as an option for renters that could be a promising solution to maintaining affordable housing stock in the midst of a housing crisis.
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9/22/2025 Every condo at this former Central NY school comes with a perk: a $200K state subsidy - Syracuse.com

The 21 brand new condominiums that just went up for sale at the former St. Matthew’s School in East Syracuse come with unusually low prices — from $136,433 to $164,688.
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