Q&A Q&A: Can I Put Maintenance in Escrow?
2011 April Q&A: Can I Put Maintenance in Escrow?

Q I’m a co-op owner in Nassau County, where my elderly mother lives. I have written repeatedly to the management company regarding water leakage issues we have been having, but while the management company had a remediation expert e…

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Q&A Q&A: When a Shareholder Falls Ill
2011 April Q&A: When a Shareholder Falls Ill

Q My ex-[husband] owns his co-op but has become diagnosed as mentally incompetent after a stroke. He is in arrears on maintenance and the co-op is seeking to evict him. He will be homeless. Also if the co-op takes his apartment, wil…

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Real Estate Trends What's a Biennial Statement
2011 April What's a Biennial Statement

A fact that is often overlooked is that the corporate operations of most co-ops are governed by the Business Corporation Law (BCL). The Business Corporation Law is the main New York State law which governs how co-op corporatio…

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Real Estate Trends Is Your Building Wasting Energy?
2011 April Is Your Building Wasting Energy?

Steam heating using both single- and two-pipe steam radiators will continue to dominate the heating of a majority of buildings in New York City well into the present century. But how do we determine if an apartment building is energy e…

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Real Estate Trends False Billings and Kickbacks?
2011 April False Billings and Kickbacks?

 Building owners spend billions of dollars a year to construct and refurbish  their properties, yet many are unaware of the hidden costs some contractors  charge improperly. Building owners are often vulnerable to this kind of  corruption …

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Real Estate Trends Benchmarking Your Building
2011 April Benchmarking Your Building

On December 8, 2009, the City Council passed Local Law 84 as part of New York City’s Greener, Greater Buildings initiative. Article 309 of this law requires all residential and commercial buildings over 50,000 square feet and city build…

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Criminal Liability for Cooperatives
2011 April Criminal Liability for Cooperatives

Two state laws make the illegality of a tenant’s use of rented premises a matter of considerable concern to property owners of all kinds, including cooperatives. One empowers local prosecutors to bring eviction proceedings against both …

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Real Estate Trends Doing A Successful Makeover
2011 April Doing A Successful Makeover

If you are contemplating selling your home, you probably know that the residential real estate market in New York City has rebounded dramatically since last year. However, to ensure the most successful sale in any market, it’s important…

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Real Estate Trends Change in Chelsea
2011 April Change in Chelsea

For years, Chelsea was a highly industrial fringe neighborhood, a commercial center on the west side of Manhattan filled with stables, railyards and rowhouses, but today it’s a popular place for restaurants, nightclubs, retail shopping …

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Real Estate Trends Handling Bedbugs Effectively
2011 April Handling Bedbugs Effectively

Bedbugs are a fact of urban life, and a growing problem for residents in communal environments. As the bedbug epidemic mushrooms—1 in 15 New Yorkers had bedbugs in the last year, according to the New York City Department of Health—the l…

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