A common phrase heard in many board rooms is that the board is protected under the law by the “business judgment rule.” This legal doctrine provides a judicial deference to a board’s decision if that decision is made in good faith and with…
The art and science of apartment sales has always involved a calendar for the best and worst times of the year to buy or sell an apartment. Conventional wisdom has typically held that the holiday season, from just before Thanksgiving throug…
Q. I’ve been a board member for five years. I got elected as treasurer and we had a board president that’s been president for several years doing all the board’s duties and got reelected again. I was assuming that I was supposed to recov…
Q. Since 2003, I have been a resident/owner of a condo in Riverdale. Last year, I became aware of the building’s eligibility for the NYC condo tax abatement program. No other owners in the building knew anything of the program. Most owner…
Q. I have been a shareholder for close to 20 years in a building that went co-op in the late 80s and whose bylaws and governance are still dictated in most part by the original offering plan/proprietary lease that was standard issue at th…
This summer and early fall, several massive storms struck the United States in rapid succession. Hurricane Ida cut a huge swath of damage from the Louisiana coast to New England. Record flooding, tornadoes, and sustained high winds damaged …
New York Governor Kathy Hochul’s Labor Day signing of four pieces of new legislation protecting and supporting workers gave those laws a lot of visibility. (Readers of CooperatorNews can find a summary of two of those four pieces of legisla…
Among the most unfortunate effects of the COVID-19 pandemic is the chill it cast—and is still casting—over social activities nearly everywhere, including in multifamily communities. So little was known early on about how the virus was sprea…
In light of the tragic condo building collapse in Surfside, Florida, earlier this year, condo and co-op boards, as well as rental building landlords, are taking a hard look at their building system inspection policies. While all mandatory i…
The forward march of innovation is constantly changing the face of nearly every industry—including residential real estate. To keep co-ops, condominiums, and other multifamily communities functioning optimally, we need to keep abreast of th…