In New York City, certain cooperative apartment buildings can receive substantial revenue by selling unused air rights. While potentially very lucrative, capitalizing on these opportunities requires navigating unique challenges, from antiqu…
In our current environment of steeply rising costs, it’s more important than ever to safeguard your reserves to ensure that your association has sufficient funds available for immediate and future capital projects. Unfortunately, many ass…
Self-managed communities large and small can save a considerable amount of money by eschewing third-party management and handling their day-to-day business in-house. This means the board must assume the tasks and responsibilities that commu…
Within any community, there will be disagreements. In shared interest communities, unfortunately those disagreements can sometimes lead to litigation. That litigation can take many forms: shareholder or owner vs. co-op or condominium, or v…
Every co-op, condo, and HOA resident has a stake in what happens in their community. Each decision—from financial oversight to building improvements—impacts everyone collectively. That’s why holding and attending annual board meetings is so…
The NYC City Council recently passed changes to Local Law 11 (LL11), which Mayor Adams recently signed into law. LL11 requires that all exterior walls of buildings taller than six stories—not just those facing the street—be professionally i…
The Department of Buildings announced that it is extending to June 30th the 2025 Benchmarking (LL84) deadline for all property owners required to submit energy and water use data for the calendar year 2024. The deadline was previously set f…
May 1 marks the deadline for an array of compliance reports NYC co-op and condos must submit to the city; Local Laws 97, 84, and 88 reports are all due on May Day. But according to tech-driven property management firm Daisy , the Departm…
It may seem counterintuitive, but the person who wins a seat on their co-op or condo board is often not simply the most popular person to throw their hat into the ring. Before the votes are cast at the annual meeting, candidates eyeing boar…
It takes many vital components working in unison to enable a residential multifamily building to function effectively: a management team to help things run smoothly, committed, engaged board members who volunteer their time, and residents w…