Many buildings have square footage hidden away that could be converted to residential use. Hallways, rooftops, unused garbage rooms, basement closets, abandoned water tank rooms - all are potential additions to an adjacent shareholder's ap…
One hundred and fifty years ago, the New York State Legislature passed a bill designating land in the heart of Manhattan as a great central park. Today, the 843 acres that was saved from being swallowed up by developers is now treasured pu…
A taxpayer normally recognizes gain or loss realized on the sale or exchange of property. However, pursuant to Section 1031 of the tax code, there is no recognition of gain or loss on the exchange of property for like-kind property. …
Sometimes a board has no choice about when to repair or replace some building feature or piece of equipment. If the boiler goes on the fritz in January, for example, it has to be fixed - period. Other projects, like interior design and ren…
In 1998, after receiving a "bill" for zero dollars and zero cents for the prior year's school taxes, some New York State property owners wrote checks to the government in that amount. They were convinced that a clerical error had been mad…
While many New Yorkers have navigated the process of applying and interviewing for - and eventually buying - a co-op or condo, securing a mortgage can be a complex, sometimes, lengthy process in which professional advice is recommended and…
Construction projects can certainly be traumatic but the difficulties inherent in residential renovation projects could be substantially minimized with professional oversight from a construction management firm. Using a CM in Your Reno…
Bad things happen to good buildings; it's a fact of life. From tyrannical sponsors to maintenance mishaps, there's plenty to go wrong - and when it does, your life can be made miserable. But sometimes a truly inspired manager can pull a ha…
Buying a new home is a very big decision that can be filled with excitement and fear, even if you're just moving across town. When you're coming to New York from another city, state, or even country, however, the task becomes much more cha…
The old axiom about New York City government is that it's a bureaucratic hell, an exasperating nightmare in which John Q. Public gets passed from department to department whenever a problem crops up and immediate assistance is needed. …