What's Your Biggest Management Challenge? Property managers talk about some of the toughest things they face in the course of serving their client communities.

By Cooperator Studio 16 January 2016 Board Operations

Toughest problem or challenge you have faced as a property manager

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News

6/4/2025 New York Launches Innovative Condo Conversion Law - Affordable Housing Finance

A new law has opened the door for owners of certain large mixed-income housing developments to partially convert to condominiums in order to protect at-risk affordable housing units in New York City.
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6/3/2025 New York state budget greenlights more condo conversions, new housing vouchers, but no down payment assistance - Brick Underground

Some New York City renters could gain a path to buying their apartments under legislation passed in the whopping $254 billion New York state budget last month. The budget lowers the number of renters or would-be-buyers that would need to agree to convert some newer, large apartment buildings from rental to condo. It’s one of a handful of initiatives—including a new statewide housing voucher program—that could have major impacts on NYC housing in the coming years.
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5/30/2025 VITA Launches Sales on 9th Avenue as NYC’s Largest Passive House Condo - W42ST.nyc

A new 12-story condo is rising on 9th Avenue — and it’s making big claims. VITA, now launching sales between W37th and W38th Streets, is billed as New York’s largest passive house development, with 121 energy-efficient units aimed at buyers seeking luxury with a lighter footprint.
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5/28/2025 Bravo’s Andy Cohen finds a buyer for his unique $12 million West Village condo - Market Watch

Bravo legend Andy Cohen has found a buyer for his one-of-a-kind New York City condo. Cohen’s fellow reality TV star and close friend Ryan Serhant of “Owning Manhattan” announced on his Instagram stories on May 19 that the sprawling Manhattan property is under contract, eight months after it hit the market.
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5/27/2025 In New York, a $370,000 Renovation Gave an Awkward Living Space Better Flow - Wall Street Journal

Joe McGuier and Megan Prime, co-founders of JAM, a Brooklyn-based architecture and interiors studio, rarely try to talk clients out of a big project. This couple couldn’t decide between apartments in two Fifth Avenue buildings. One had two smaller, but more modern units that JAM would gut and combine into one apartment, the other was a prewar condo that was large, but poorly laid out. McGuier didn’t hesitate to steer them to the simpler project in the prewar building. “The single apartment was already quite spacious, but it had this awkward living-dining room-entry,” he says. “We told them if we combine these rooms, you’ll have an amazing space with six windows overlooking the park.”
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5/23/2025 New York Launches Innovative Condo Conversion Law - Affordable Housing Finance

5/22/2025 New York’s Wealthiest All Want to Live Downtown Now - Wall Street Journal

Nearly a decade ago, financier Harsh Padia and his wife, Purvi Padia, spent $29.1 million for an apartment in Manhattan’s West Village, paying top dollar for a duplex at the 150 Charles Street condominium. In March of this year, they sold the unit for $60 million, more than twice what they paid and a record figure for downtown Manhattan.
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5/15/2025 Condo owners sue over New York skyscraper they say is riddled with ‘thousands of severe cracks’ - CNN

Apartment owners at a luxury New York skyscraper are suing the building’s developers over a “far-reaching fraud” in which they allegedly hid structurally significant defects — including “thousands” of severe cracks on the tower’s facade.
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5/12/2025 220 Central Park three-bedroom trades for $36.5M, a 36% profit - Crain's

Vornado’s contribution to Billionaires Row continues to show strength in the resale marketplace.
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5/9/2025 Manhattan and Brooklyn see rise in number of signed contracts for co-op, condo sales - Crain's

The number of contracts signed for sales of apartments in Manhattan and Brooklyn rose year over year in nearly every price category, according to a new report from Douglas Elliman and Miller Samuel.
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5/7/2025 Marc Holliday Pays $8.4M For Condo In SL Green's Armani Project - BisNow

SL Green Realty only built 10 apartments in its ultra-luxury Giorgio Armani Residences project on Madison Avenue, and its CEO is one of a select few buyers.
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5/5/2025 Luxury Condo Owners Accuse Builders of Hiding Dangerous Defects - New York Times

The condo board at a troubled 1,400-foot luxury tower on New York City’s Billionaires’ Row is accusing developers of “deliberate and far-reaching fraud” by failing to disclose early cracks in the facade that it says could lead to dangerous structural issues.
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5/2/2025 Carnegie Hall lists artistic director's former UES home for $5.5M - Crain's

Carnegie Hall is hoping the apartment purchased for its top executive will strike a chord with a buyer.
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4/29/2025 Regulations Pose Challenges for Condos and Co-ops - New York State Bar Association

In my time acting as outside general counsel to cooperative and condominium boards, I have become increasingly convinced that the job has been getting harder and harder. Admittedly, this feeling could be just a variation on the so-called Socratic paradox that the more I learn about the role, the more I realize what I do not know.
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4/28/2025 Meet Vita, the N.Y.C. Condo Development Designed to Reduce Energy Consumption by 90% - Robb Report

“Vita is unlike anything experienced to date in the New York City market,” John Gomes, a co-founder of Eklund Gomes, said in a statement. “This is a project that doesn’t just raise the bar—it completely redefines what it means to live well in the city. The seamless incorporation of Passive House principles alongside beautifully curated interiors and amenities illustrate why Vita is the future of luxury living.”
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4/23/2025 Inside an $8 Million Condo on the 29th Floor of New York City’s Iconic Woolworth Building - Robb Report

The Woolworth Building in Tribeca, designed by skyscraper-pioneering architect Cass Gilbert, stands alongside Emery Roth’s Beresford and Ely Jacques Kahn’s Sherry-Netherland as one of New York’s most distinguished residential landmarks. After holding rank as the world’s tallest building from 1913 to 1929, the terracotta and limestone tower saw its top 30 floors converted into luxury condos after it was sold to a developer in 2012. We got a peek inside the building’s epic five-story penthouse back in 2021 (which is still for sale), and now we’re going to check out a three-bedroom spread that spans half of the 29th floor.
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4/21/2025 Naftali Group Launches Sales at NYC Residential Project - Multi-Housing News

Naftali Group has launched sales at The Willow, a 69-unit luxury boutique tower in Manhattan’s Gramercy Park neighborhood. Compass Development Marketing Group is leading the sales and marketing efforts, with prices starting at $1.2 million for a one-bedroom unit.
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4/18/2025 Residents of ritzy NYC condo the Apthorp — where ‘Only Murders in the Building’ filmed — cope with months-long gas outage - NY Post

They’re steaming mad about these hot plates. Residents of the ritzy historic Upper West Side condo, the Apthorp, have been without gas for months — and they’re furious at building management for giving them paltry electric cookers to cope, The Post has learned.
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4/14/2025 Northwind Group, BHI Provide $170M for NYC Condo Project - Multi-Housing News

Northwind Group and Bank Hapoalim B.M.’s U.S. branch BHI have originated $170 million in construction financing for 200 W. 88th St., a luxury condominium project led by Nortco Development in Manhattan’s Upper West Side.
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4/10/2025 Gallerist Lists New York Duplex for $14 Million - Mansion Global

An art connoisseur’s gallery-like Manhattan duplex has hit the market asking $14 million. The plush pad of Swiss art collector and gallery owner Dominique Levy was listed Friday, asking $2.5 million less than what Levy asked the last time the home was on the market in 2017.
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