The viability of the 421-a tax abatement was up in the air last month as the New York State Senate passed sweeping reforms via a rent regulation bill which has caused quite a stir in the real estate community. After pushback from …
After a lengthy foreclosure and bankruptcy process lasting nearly a decade, the auction of the site known as One Bennett Park, located at 29 Overlook Terrace in Upper Manhattan, will be auctioned. The auction was recently announced by New Y…
You could blame the new mansion tax for last week's flat Manhattan's luxury residential sales.performance. According to Olshan Realty's luxury market report for Manhattan properties $4 million or above, there were only nine propert…
Buyers who were looking to acquire homes before the city's new mansion and transfer taxes went into effect on July 1 was a factor in increased Manhattan co-op and condo sales during second quarter 2019. According to the latest Manhattan ma…
Q. My family and I live in a six-story condominium in Manhattan. We own the top two floors (5 & 6), which amounts to 22 percent of the building. The elevator has been out of service for two months. The board members seem to be in no hurry…
Q. I purchased my co-op four years ago with a master bath that had been remodeled seven or eight years ago by a previous owner. It appears that water/moisture is seeping into the foyer wall on the opposite side of the shower stall and is …
The board of a building or community association has a fiduciary duty to uphold its community’s governing documents, act in good faith, and advance the interests of the community at large. Occasionally, boards fail to carry out this duty – …
There are few things upon which most people agree, but a general dislike for paying more today for something that cost less yesterday is pretty universal. This goes for taxes, consumer goods, healthcare, and of course for monthly maintenanc…
The importance of saving for a rainy day is a lesson we all learn as children. Just like we as individuals should put away a little something for that ‘just-in-case’ moment, co-op corporations and condominium associations must also keep res…
Property managers wear many hats and have job descriptions covering everything from bidding out capital projects to mediating spats between neighbors -- so how do individual managers determine what needs to be done, and when? In this clip, …