To self manage or not to self manage? It’s akin, in some respects, to the half-century old question of manual versus automatic transmission. Sure, the automatic is easier to drive, but the manual provides more control. And sometimes a co-op…
Board meetings provide the time and space for co-op and condo leaders to establish and direct building operations. "Every board has its own distinct group personality," observes Howard Schechter, a partner in the Manhattan law firm of Schec…
Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The managi…
Much has been written recently about the management industry indictments, the role of the managing agent and how to monitor management. Little has been said, however, about what it takes to make a board/manager relationship work. The mana…
Real estate brokers and developers have seen sales of condos and co-ops on Central Park North and in Harlem take off in the past year. On Christmas Eve of 1999, Saadia Lynch, a broker with Bellmarc Realty, a residential real estate brokerag…
It’s 3:30 in the morning and your upstairs neighbor can’t seem to get enough of the new Cher album. It’s not just the techno beat that’s getting to you, it’s the volume. It’s making your china collection rattle in its hutch and your teeth h…
All board members should be involved in the budgeting process of their building. However, board members come from a wide array of professional backgrounds, and often lack experience managing large budgets and do not know how to effectively …
The numerous, rapid conversions of the 1980s resulted in many cases of sponsor default in the early ‘90s. But as the number of building conversions slowed in the ‘90s, it seems that potential conflict between shareholders and the sponsor ma…
A good treasurer is crucial to the well-being of any co-op or condo. Unfortunately, the position is, without a doubt, one of the most challenging offices to hold. Carl M. Cesarano, CPA, a partner with Cesarano & Khan PC in Rego Park, Queens…
While the real estate market today is going strong, there are still buildings facing financial troubles. Many of these are victims of the collapsed real estate market of the late 1980s and early ‘90s. The market may have dropped after the c…