The last three apartments in your luxury hi-rise condo were sold to a troika of Russian oligarchs, who all paid well above the asking price. But now those oligarchs are on the sanctions list, and have withheld their monthly maintenance fees…
Market wide, sales prices for co-ops and condos in Manhattan have been rising steadily year-over-year for the fifth consecutive year. That is according to the latest study, 2017 Manhattan Decade Sales Report , released by Douglas El…
Members of a condominium or co-op homeowners’ association (HOA) have a fiduciary responsibility to manage their community’s funds wisely, and to protect the financial interests of all owner/shareholders. Breaching this duty carries the real…
Updated December 27, 2017 New York property owners could get some tax relief from the state following the passage of the sweeping new Republican-backed tax law in Washington. Last Friday, New York Gov. Andrew Cuomo issued an emergen…
(Updated on 12/22/17 to reflect that President Trump signed the new tax bill into law) On December 22, 2017, President Trump signed into law a major $1.5 trillion tax plan that Congress had earlier passed, the first re-writing of o…
It was not a good year generally for Trump-branded condos during the first full year of Donald Trump's presidency, according to a real estate website's report. Bloomberg reported that the average sales price and average price per squ…
Homeownership in New York City is about to get easier for first-time homebuyers, while existing yet struggling homeowners are getting help in fixing their homes This past Monday, the city announced two new initiatives , Open Door …
Maintaining a residential cooperative or condo association does not come cheap. Shareholders and unit owners contribute regular maintenance payments, to be sure, but that only covers so much. What happens in the event of a rainy day? Well, …
Just a few months ago, according to various media reports, property manager Steven Dym of the Queens-based Gabriel Management Corp., was facing a lawsuit for allegedly taking approximately $22,000 from a client. The ultimate result from thi…
Creating and adhering to an operating budget is a delicate financial balancing act that boards, management, and staff do every year in buildings and associations all across the country. The object is to predict expenses, balance cash inflow…