What Are the Common Insurance Claim Mistakes in Multi-Family Buildings? One Issue Involves Selecting Coverage

By Cooperator Studio 5 April 2018 Insurance

Edward Mackoul of Mackoul & Associates talks about insurance mistakes.

When it comes to selecting a multi-family building insurance premium, the natural tendency is to go with the least expensive option. But cheaper doesn't always mean better or even proper. Insurance expert Edward Mackoul outlines the common mistakes associated with insurance coverage for multi-family buildings.

Share Twitter Facebook Pinterest LinkedIn Tumblr Email

Minimizing the Impact of Major Renovations

Big Projects Don’t Have to Mean Big Hassles

Human hand hold banner, placard with word Yes, No. Test question, choice, dispute, vote concept

Board Approval

Decide—Don’t Discriminate

Young African-American woman ringing intercom with camera near building entrance

Replacing Intercom Systems

Not as Easy as it Seems

News

11/11/2026 Co-op and Condos United of NY convene at North Shore Towers to keep co-ops affordable - NREJ

Co-op and Condos United of New York (CCU), a coalition of co-op and condo owners from across the five boroughs that represents the interests of the more than one million New York homeowners who live in this type of housing, hosted a town hall at North Shore Towers to discuss unfunded mandates, such as Local Law 97 (LL97), rising taxes and other policy issues threatening the affordability of the essential housing stock. Building on momentum following recent rallies at Southbridge Towers, Bell Park Manor, and Hilltop Village, the event brought co-op leaders and residents together to address the political issues creating financial burdens for co-ops and condos.
Read full story

11/6/2026 This $16 Million N.Y.C. Condo Comes With a Key to Gramercy Park - Robb Report

New York’s Gramercy Park has been locked to the public since the 19th century, but we have found a way in. One Manhattan condo not only gives you a front-row view of the famously private park, but also a key to get inside.
Read full story

10/26/2026 10-Story Mixed-Use Condo Quietly Kicks-Off - Urbanize New York

Construction activities are slowly beginning at 65 West Broadway, a site long dormant since the demolition of the previous structures occurred back in 2014. Fencing and sidewalk shed are now in place on the busy corner in Tribeca. Prosper Property Group has teamed up with American Subsidiary of South Korea's HM Group to lead the eventual 10-story, 24 unit condo project, which is being built by Prosper's affiliate First Standard Construction.
Read full story

10/20/2026 NYC sees biggest wave of homes for sale in four years - New York Post

It’s a seller’s sprint in the Big Apple. New York homeowners flung open their doors in September, putting 4,951 properties up for sale across the five boroughs, according to a new StreetEasy report. That’s the biggest monthly haul since the spring of 2022 and a 7.6% jump from a year earlier.
Read full story

10/19/2026 Billionaire ‘who built Beijing’ seeks expansive air rights for Upper East Side condo - Crain's

A real estate mogul and one of the world’s most celebrated female entrepreneurs who last year paid $63 million in cash for an Upper East Side assemblage where she plans to develop luxury condominiums is now seeking air rights from nearby landmark properties to build even bigger.
Read full story

10/16/2026 The Plaza Hotel Is Closing for 4 Years—Here’s What That Means for Its Condo Residents - Realtor.com

Next year, New York's iconic Plaza Hotel will close for renovations—and it's unclear what that means for the owners of its 181 luxury condo units. But the building's lead broker says he isn't worried it'll affect residents much.
Read full story

10/13/2026 Forget rooftop pools: Inside the first luxury condo that comes with a doctor on call 24/7 - New York Post

Forget the golf simulator and the pet spa. The hottest perk in luxury real estate is a doctor who commutes by elevator. When Frida Kahlo Wynwood Residences opens in Miami’s arts district, owners won’t have to hunt for a physician, sit in a waiting room or even put on shoes.
Read full story

10/7/2026 NYC developers shunning entry-level buyers — pushing city’s house prices even higher - New York Post

In Manhattan, a $1 million condo counts as “entry level” — and developers are building dramatically fewer of them. The supply of the city’s most affordable new-development condos is projected to plunge 74% through 2029 compared with the past decade, according to a new report from Corcoran Sunshine Marketing Group obtained by The Post.
Read full story

10/5/2026 A Judge Has Temporarily Blocked New York City’s Pied-À-Terre Tax - Robb Report

New York City’s new tax on pricey second homes has hit a roadblock just as homeowners were figuring out whether they would have to pay it.
Read full story

9/30/2026 The pros and cons of buying a co-op sponsor unit: No board approval required, but you'll pay a premium - Brick Underground

If you're looking to buy a co-op in New York City, the term "sponsor unit" may have caught your eye while scanning listings. This type of co-op apartment offers several advantages, including the ability to skip the board approval process—a huge relief for many buyers.
Read full story

9/24/2026 What New York buyers, sellers and boards need to know about the 2026 condo financing overhaul - Housing Wire

If you’re buying, selling or sitting on the board of a condo in New York right now, there’s a good chance your building’s finances just became a lot more important to your closing timeline. Starting August 3, Fannie Mae is rolling out a significant update to how it reviews and approves condo projects for conventional financing. Together, the changes represent one of the biggest shifts in condo lending standards in years, and New York’s older, densely packed co-op and condo stock makes this market one of the most exposed.
Read full story

9/22/2026 Condo owners are getting trapped in homes they can’t sell — as HOA costs and financing woes pile up - New York Post

Condo owners across America are discovering that their supposedly affordable homes may come with an expensive catch: They can be extraordinarily difficult to sell.
Read full story

9/18/2026 This Filmmaker Loves Movie Homes So Much, He Built a Mini One in His NYC Condo - Dwell

Filmmaker Lee Leshen has more than a passing interest in famous on-screen houses that are just as iconic as the media they appeared in. He produced the 2024 documentary, The House From…, about what it’s like to live in a movie- or TV-famous house, like Home Alone’s Georgian Colonial, the Golden Girls Palm Beach Regency, or Walter White’s ranch-style home from Breaking Bad. So when he decided to buy his own piece of real estate in New York City after riding out the pandemic in a 250-square-foot West Village studio, he knew it was going to be a creative project, not just a regular renovation. "When I was thinking about my next apartment, I thought, What if you had a nice apartment in Toontown sprinkled with a bit of Pee-wee’s playhouse?" Lee says. "It was going to be more Acme-themed."
Read full story

9/16/2026 Former Hotel Bossert in Brooklyn Heights to become Ritz-Carlton condos - 6sqft

A former Brooklyn Heights hotel known for its glamorous past and A-list guests is entering its next luxury chapter. Marriott International, Inc. and SomeraRoad on Tuesday announced plans to turn Hotel Bossert at 98 Montague Street into The Ritz-Carlton, Residences, Brooklyn Heights, bringing the first branded residences to the borough. The project, which preserves the landmarked Renaissance Revival building, will add 62 condominiums and a ground-floor restaurant by Danny Meyer’s Union Square Hospitality Group.
Read full story

9/15/2026 Related sells long-marketed Hudson Yards penthouse in decent week for luxury sales - Crain's

A Related Cos. tower that was among the most anticipated (and hyped) of the last condo boom is still searching for buyers after a decade.
Read full story

9/10/2026 Brooklyn developer must repay $6M+ to condo buyers after illegal sales - 6sqft

A Brooklyn condo developer who cheated tenants out of more than $6 million in down payments must repay the money and is banned from selling property in New York for six years. Attorney General Letitia James last week announced that the state secured the funds from 425 Marcy, LLC, and its principal, Ezra Unger, who she said unlawfully sold units and collected down payments for apartments in Williamsburg before he was legally permitted to do so. Unger then illegally used buyers’ down payments for various expenses instead of keeping the money in escrow.
Read full story

9/8/2026 Co-op and Condos United rally for amendments to Local Law 97 - NYREJ

Manhattan, NY Co-op and Condos United of New York (CCU), a coalition of co-op and condo owners from across the five boroughs that represents the interests of the more than one million New York homeowners who live in this type of housing, hosted a rally at the Southbridge Towers Co-op in Lower Manhattan to raise awareness about the affordability crisis currently blighting the cooperative housing community. Building on momentum following a recent rally at Bell Park Manor, the event brought co-op leaders and residents together to address Local Law 97 (LL97) and the heavy financial burden it is placing on co-ops and condos.
Read full story

9/4/2026 What NYC Co-op and Condo Boards Need to Know About Corporate Transparency Act Exemptions - National Law Review

FinCEN has finalized a rule that permanently exempts most domestic entities from Corporate Transparency Act (CTA) beneficial ownership reporting requirements. As a result, cooperative corporations, condominium-related entities, and other community associations organized in the United States generally are no longer required to file Beneficial Ownership Information (BOI) reports with FinCEN, and their board members, officers, and directors generally are no longer required to provide or update personal beneficial ownership information in connection with those filings.
Read full story

8/31/2026 Resident at Long Island condo complex says he's "afraid for my life" after mudslide behind building - CBS

Recent rains have taken a dramatic toll on one condominium complex on Long Island. One of the unit owners says he feels in danger, living on the edge of a steep drop-off.
Read full story

8/27/2026 NYC’s Condo Pipeline Set to Shrink 11% Through 2029 - CRE Daily

New York City’s pipeline of new-construction condos for sale is set to shrink, with new condo launches projected to fall 11% through 2029, according to Corcoran Sunshine Marketing Group’s 2026 Pipeline report, as reported by Bloomberg. An average of 13,000 condo and rental units will come to market annually through 2029, down from a 13,400 average over the past decade. In total, about 52,000 combined market-rate condo and rental units are expected to launch across Manhattan and the studied areas of Brooklyn and Queens through the period.
Read full story

Show more news

Recent Articles

CooperatorNews at 45

CooperatorEvents New York Co-op & Condo Expo Returns to Javits November 17

Q&A: Short Term Rental

Q&A: No Pets vs. ESA Accommodations

Q&A: Fiduciary Duty