While there's certainly no shortage of affluent co-op and condo buildings in New York City, it's a fact that a significant proportion of buildings are home to residents of more modest means--buildings for whom large capital improvement proj…

Today's economy is one, which has economists using words such as "perplexing" and "conundrum." Making predictions as to what the economy will do next week is difficult--trying to predict what will happen six months or a year down the road i…

In New York City, many co-ops and condos use a practice called a "flip tax" in order to boost building revenue. As most co-op and condo owners know, a flip tax is a fee paid to the building, either by the purchaser or seller, each time an a…

Back in 1955, when the flight to the suburbs was going full blast and many city neighborhoods were deteriorating from lack of money and municipal attention, the Mitchell-Lama bill, named after State Sen. McNeil Mitchell and New York Assembl…

Historically, co-op buildings have had the market cornered on board-mandated restrictions, strict bylaws, and procedural red tape, while condos have been more black-and-white: co-op shareholders own shares, and condo owners own real estate.…

As part of a New York City Housing Development Corporation (HDC) project, Maple Plaza in East Harlem was constructed in the late 1990s in hopes that the building would help anchor redevelopment efforts in the neighborhood. The eight-story, …

Several years ago, the only television shows on buying and selling real estate were late-night or Sunday morning agonizing, yet tantalizing, infomercials touting get-rich-quick products. These shows taught viewers that by simply buying t…

For decades, the most desirable residential buildings were those with visible security systems, liveried door staffs, concierges, elevator operators, keyless locks, state-of-the-art intercom systems and video cameras. Over the course of the…

With annual meeting season upon us lots of shareholders contemplate leaving the sidelines behind to join the ruling class. Before you decide to cross over, be forewarned that the grass isn't always greener on the other side. To help you mak…

On May 5, 2005, Mayor Michael R. Bloomberg proposed a $49.7 billion budget plan for Fiscal Year 2006 that closes a once $4 billion budget gap and continues to invest in education, housing, human services, public safety and economic developm…