Q I am a shareholder in a Lower East Side tenement co-op. The building was originally 6 floors with 4 apartments on each floor. In 1985, we formed a corporation and purchased the building from the landlord who had us purchase a money m…
Q At a general meeting of our condominium, a proposal for a flip tax/transfer fee on the sale of a unit failed to get enough votes. Subsequently, the board of managers decided to impose a transfer fee of five months maintenance charg…
Charged with managing their properties’ expenses, boards of co-ops and condo complexes place a high priority on controlling energy consumption. In some regions, multi-family properties are being aided by local utilities and incentive pr…
Not so long ago, having a security system required drilling through the walls of your cooperative or condominium building and involved installing many spools of wire attached directly to a bulky keypad. Sophisticated and Secur…
Today’s SoHo is synonymous with world class dining, prestigious art galleries, chic clothing stores, luxury boutique hotels, trendy lounges, picturesque cobble stone streets and stunning cast iron architecture. The Lower Manha…
Fire in the home can be an absolutely terrifying and life-altering occurrence. In 2010 alone, there were 1,331,500 fires reported within the United States, causing more than 3,000 civilian deaths, 17,720 injuries, and $11.6 billion in …
In today’s turbulent economic times as so many of us try to regain our financial footing, the question of how to balance the bottom line and still take care of all that needs to be done in a co-op and condo building remains a difficult …
The last few years have been stressful and uncertain for many in the real estate game—developers have had to adjust projections and expectations for certain projects. Likewise, sellers and brokers have had to acclimate to a market that,…
Organizing and keeping a co-op or condo’s books and other records is, on the surface, not that different than keeping a budget for one’s home. But there are many important differences—filing deadlines, tax requirements, reports…
It’s been a long time since cable modems were the gold standard in Internet connectivity—or at least it seems like it’s been a long time. Telecommunications as a field has been developing at a dizzying pace, and multifamily buildings—bo…