Category: Board Operations

1995 Feb Judging Board Performance By Ed Serken

Like most business corporations, co-ops rely on a board of directors to oversee operations and make decisions for the benefit of all shareholders. What makes a co-op's board unique is that itsmembers are responsible not only for the corpora…

Board Operations

1995 Dec/Jan Is Your Board Carrying Out Its Fiduciary Duty? By Bruce A. Cholst Esq.

One of the most distressing issues confronting board members is how to comply with their fiduciary duty to shareholders and unit owners. Although misconceptions abound as to the precise nature and scope of this obligation, a breach of the f…

News

2/18/2025 3 Parrots, 1 Shared Wall, 2 Ruptured Lives - New York Times

How noise complaints in a Manhattan co-op led to a $750000 legal settlement and shattered a friendship.
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2/10/2025 The Daily Dirt: Bill seeks to breathe some life back into condo conversions - Real Deal

The 2019 Housing Stability and Tenant Protection Act changed the rules around rental to condo/co-op conversions. Before the law, existing tenants had to agree to buy 15 percent of the units for the conversion to move forward. The HSTPA bumped that threshold to 51 percent. The number of conversions quickly plummeted.
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2/5/2025 The Leaning Tower of New York - New Yorker

At the end of the fifth season of “Million Dollar Listing New York,” which aired in 2016, Fredrik Eklund, a Swedish adult-film actor turned real-estate broker, was in the grips of a professional crisis. He was desperate to become the listing agent for a new condominium project called 1 Seaport, and had spent weeks fanatically courting its developers at the Fortis Property Group.
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1/29/2025 Is the stigma of a Trump-branded condo waning in Manhattan? - Real Deal

During Donald Trump’s political rise, his brand took a big hit from left-leaning New Yorkers disgusted by his politics and rhetoric. In his second term, many seem less troubled by the association.
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1/27/2025 At a Deluxe Dining Room on the 100th Floor, a Chef Toils in Obscurity - New York Times

As the chef at 10 Cubed in New York City, Nduvo Salaam prepares dishes that blend his African-Caribbean roots with classic French technique on the 100th floor of Central Park Tower — one of the tallest residential buildings in the world.
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1/22/2025 Macaulay Culkin has sold the NYC loft he bought as a teenager for $7.75M - NY Post

Macaulay Culkin was famously lost in New York — and now he’s just sold a home in New York. The former child star has officially parted ways with his longtime Manhattan loft, selling the Noho property he bought as a teenager for $7.75 million, according to records filed with the city register on Tuesday.
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1/16/2025 Is Kamala Harris Planning Move to New York? VP’s Husband Doug Emhoff Spotted Touring $20K a Month Apartment as Donald Trump’s Inauguration Looms - Realtor.com

Vice President Kamala Harris could well be planning a post-inauguration relocation to Manhattan. Her husband, Doug Emhoff, was seen touring a luxury $20,000-a-month apartment on New York’s Upper West Side, sparking speculation that the couple will trade the White House for the Big Apple.
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1/14/2025 Sci-fi screenwriter lands West Chelsea condo for $11M - Crain's

Award-winning movie maker Akiva Goldsman, who has helped create Star Trek spin-offs, has beamed down in West Chelsea.
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1/10/2025 Many Manhattan councilmembers silent on bill requiring co-ops to explain rejections - Gothamist

For many New Yorkers who want to buy homes, co-op boards are anxiety-inducing — with the endeavor of going before one the culmination of a lengthy and pricey process. Potential buyers face infamously invasive questioning and financial reviews reminiscent of tax audits.
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1/9/2025 NYC Condo Owners May Bear Costs of Landmark Green Building Law - Bloomberg

As deadlines approach for Local Law 97, residents face fee and rent increases. Lawmakers are considering tax exemptions to ease the burden.
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1/3/2025 How to Know if the Developer Will Deliver a Quality Home, and Other Insights From a NYC Real Estate Lawyer - Mansion Global

As the managing partner at the New York real estate law firm Starr Associates LLP, Samantha Sheeber is well-informed about the city’s current housing market and has a perspective on its trajectory in the years ahead.
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1/2/2025 Ty Pennington Starts 2025 With Swanky New NYC Condo - Entertainment Now

Three months after listing his New York City condo for $2.65 million, HGTV star Ty Pennington has a new place to call home in the Big Apple.
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12/24/2024 A Super-Rich Spending Spree Boosts New York Luxury Housing - Bloomberg

Even as New York City’s overall residential market had a mediocre year, its ultra-luxury end soared to nearly unprecedented heights.
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12/18/2024 This $1.25M NYC condo boasts unparalleled views of the city’s most popular Christmas attraction - NY Post

For $1.25 million, a lucky buyer can avoid Midtown’s notorious Christmas crowds and see the neighborhood’s most glittering attraction right from the comfort of their own home.
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12/17/2024 What a second Trump presidency could mean for NYC buyers and sellers - Brick Underground

President-elect Donald Trump’s policies could hike construction and renovation costs for New York City condo, co-op, and townhouse buyers and sellers, while easing the tax burden of some New Yorkers under proposed changes to federal taxes.
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12/13/2024 Daniel Neiditch Unveils Atelier Condo's Exclusive Concert Series Featuring Lincoln Center Artists - Newswire

Daniel Neiditch, a visionary leader in luxury real estate, has seamlessly merged his passion for classical music with the refined elegance of the Atelier Condo, one of Manhattan's premier residential towers. Situated along the Hudson River and steps away from Hudson Yards, the Atelier boasts a striking design, combining contemporary aesthetics with unparalleled amenities. Its award-winning lobby, adorned with 20-foot ceilings and gleaming white marble pillars, exudes a timeless grandeur, setting the tone for the building's extraordinary offerings.
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12/9/2024 These were Manhattan’s 10 priciest condo projects this year - Real Deal

Naftali Group's 255 East 77th led the pack of projects filed this year, with 62 apartments projected for a $531 million sellout.
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12/6/2024 One High Line penthouse sells for $47M - 6sqft

The most expensive Downtown deal of the year belongs to One High Line in Chelsea. According to public records, a penthouse at the Bjarke Ingels-designed condominium on West 18th Street sold for $47 million last month. Last June, the apartment entered contract after asking $52 million. According to CityRealty, Penthouse 36 is the most expensive apartment to sell at One High Line to date; another penthouse at the building asking $49 million entered contract in January but has not closed yet.
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12/2/2024 Extell’s Lincoln Square condo tops Manhattan’s luxury contracts - Real Deal

Unit 52E at 50 West 66th Street was the priciest of 19 homes asking $4 million or more to find buyers last week.
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11/27/2024 Condominium owners turn to increasingly complex lawsuits in push for building renovations - Costar

As condominium developers add more amenities to their buildings to win over buyers, disputes over repairs are becoming increasingly complex, and can lead to lawsuits.
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