Most of us don’t like to spend a lot of time contemplating our so-called “final wishes”—we’d much rather leave planning our wills and executing our estates for another day. Uncomfortable as the subject is for many people however, it’s …
It is a fairly common situation: The managing agent of a 30-unit condo calls the building’s legal counsel and asks whether the building is required to hire or retain a resident superintendent. Sometimes the building wants to rent or se…
Some of the world’s most valuable real estate exists in New York City, and the wealth doesn’t end with residential buildings and office space. In a city with so many people and so little space, a place to park your car can be priceless…
They’re the smallest pieces of the co-op puzzle. The one item without which the whole endeavor could not function. Just like in a Fortune 500 corporation, the shares in a co-op reflect value, and can be highly sought-after prizes—depen…
With all the luxury condos going up in New York City today, many people still maintain a soft spot for the city’s prewar apartment buildings. You’ll see them all around town—on Central Park West and Fort Washington Avenue in Manhattan;…
The dreaded phrase “maintenance increase” is two words that most co-op owners may not want to hear, but sometimes it is necessary for a building’s board to make the unpopular decision of raising fees. With rising operating costs, fuel …
Q I’m curious! What is a fair sublet fee for a small Brooklyn co-op? Is it just a percentage of the maintenance, or decided upon by some other formula? —Brooklyn Shareholder A Michael Manzi, an attorney at Balber Picka…
Q We’re in the process of purchasing two studios in a small brownstone co-op. Our plan is to combine them into one apartment. How will reducing the number of dwellings in the building affect the overall co-op in terms of taxes, mortgage…
Q I’m currently the vice president for our co-op, a 334-unit community on Long Island. We’re having difficulties with two of our board members. One has been on the board for five years, and has been very destructive. For example, this b…
Spring is here, and with it comes a lot of renovation—especially of homes, weekend homes and co-ops. With all that work comes inevitable disputes between homeowners and their architects, interior designers and contractors. For many yea…