According to a recent press release, at 11 a.m. on Friday, January 17, dozens of residential industry leaders, builders, property owners, affordable housing advocates and policymakers will convene across the street from the Brooklyn federal…
Co-op boards once had near absolute power to reject applicants for purchase of shares for almost any reason. Over the years, the courts and New York City have narrowed that prerogative in an effort to curtail housing discrimination. Effecti…
Q. Can an election for the purpose of electing board members be held if there is not a quorum? —Need a Primer A. “In order to conduct any business at a shareholder’s meeting, there must be a …
Q. Why are co-op board minutes so sparse that others who read them—shareholders, lawyers, brokers—have no real idea what goes on at meetings? Our minutes are routinely ‘sanitized’ to leave out any troublesome issues, any comments by vario…
Q. “I live in a building with storage lockers for cooperators on the ground floor and one storage locker on each floor. All the lockers are closed, so the contents are not visible. The building porters inspect the rooms in which the locke…
Positive cash flow is the lifeblood of any multifamily residential community, be it a rental building, co-op, condo, or HOA. However, because the latter three are nonprofit entities, maintaining consistent cash flow is even more critical to…
While some co-op and condo communities have tried social media platforms like Facebook, Instagram, TikTok, or Twitter/X as ways to build community spirit and facilitate better communication between neighbors, management, and even the board,…
Board approval has been part and parcel of buying into an NYC co-op since the housing model was introduced to the city in the late 1800s. Boards can demand troves of personal information from buyers and can approve or deny a purchase for ju…
Over the past several years, liability and excess liability insurance carriers have been exiting the New York marketplace. This trend has led to fewer options for securing proper coverage, and higher premiums for obtaining sufficient covera…
The past few years have seen a dramatic swing from the red-hot market for condos and co-ops nationwide to the more challenging conditions markets around the country are experiencing today. Some of the underlying factors for this shift are b…