While experts predict an improvement in mortgage markets and builder outlook for the U.S. housing market in 2024, the number of new communities and existing home sales will be subject to a series of domestic and international issues. The ge…
Every so often a scenario comes along in the otherwise fairly predictable world of New York co-ops that has the potential to upend long-standing norms. That may be the case for Carnegie House, a ground lease co-op at the corner of West 57 …
According to a surprising recent report from consulting firm Construction Coverage ranking the ‘Hottest Real Estate Markets of 2024,’ the NYC metro market ranks 48th out of 52 large U.S. cities. “While 2023 marked a notably more subdued…
After the deadly collapse of a parking garage building in lower Manhattan last year, the City of New York moved to prevent similar tragedies from occurring, undertaking the herculean task of inspecting every garage in New York City for crac…
It appears that a federal program aimed at assisting low- and moderate income shareholders in Mitchell-Lama and other subsidized co-op properties through a New York State agency is coming back to complicate, rather than simplify, residents’…
Q. There has been a leak in my line in my co-op. I have reported the leak, three of my neighbors have also reported leaks. The co-op board has had the super make repairs, and he plasters and paints around the leak. There is a mold smell i…
The national housing market for 2023 will likely be remembered as one of converging challenges, especially for the multifamily sector. A recession possibly looming, ballooning interest rates, steady inflation, global instability, and a stri…
Cooperative corporations and condominium associations are collectives of shareholders and owners, respectively. Both are governed by a board, the members of which are typically elected by those same shareholders and owners. Immediately fo…
At the heart of every shared interest community is the person who makes it run. That person is known by many names: superintendent (or just ‘super’), building engineer, resident manager, community manager. Their duties and responsibilities…
As we move toward spring and summer, major capital improvement projects become the focus for many co-op and condominium communities. One of the largest projects your community may undertake is a roof replacement. Whether a high-rise, mid-ri…