Category: On The Board

Board Operations Welcome Aboard. . .Now What?
1995 Oct Welcome Aboard. . .Now What?

Tom Marcossan laughs when he remembers joining the board as treasurer when his building went co-op in 1986. "I was stupid. I didn't read the magazines available or take advantage of any organizations out there. We were the first board the b…

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Law & Legislation A Small Victory for Co-ops?
1995 Sep A Small Victory for Co-ops?

To be, or not to be [taxed]? That is the question. It appears that William Shakespeare had been posing the same question that treasurers and other board members of New York co-ops have been asking their accountants for the past five…

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Law & Legislation Derivative Lawsuits
1995 Sep Derivative Lawsuits

A cooperative is generally organized as a so-called business corporation, just like, for example, IBM or AT&T. Accordingly, shareholders of a cooperative have the same rights as shareholders in other New York business corporations to init…

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Shareholder Relations Can This Co-op Be Saved?
1995 Jul/Aug Can This Co-op Be Saved?

The collapse of the New York real estate market in the late 1980s left dozens, if not hundreds, of co-ops unable to pay or refinance their mortgages. Many sponsors managed to have their plans declared effective with only 15 percent of the u…

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Shareholder Relations Property Tax Reform
1995 Jul/Aug Property Tax Reform

The City Council has made protection of homeownersincluding co-op and condo ownersone of its highest priorities. We do this because we understand that home ownership fosters a sense of pride in home, community and city. Property owners …

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Shareholder Relations From Horror to Harmony
1995 Jul/Aug From Horror to Harmony

Neil Goldstein flashes a look of genuine surprise when a resident kisses him hello on the cheek in the lobby of The Harmony, an Upper East Side co-op where he is board president. Other residents trot by with friendly waves and call out, How…

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Law & Legislation Reacting to Sponsor Default
1995 Jun Reacting to Sponsor Default

tarting in the mid '70s and continuing through the latter part of the '80s, New York City was engulfed in the co- oping craze. As prices spiralled upward, owners of residential property were cashing in by converting buildings from rentals…

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Board Operations The Role of the Treasurer
1995 May The Role of the Treasurer

The co-op and condo community has been shocked by recent disclosures concerning inappropriate and/or illegal activities by real estate managing agents, their employees and the various industries selling supplies and materials to co-ops and …

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Law & Legislation Big Trouble at Big Six
1995 Apr Big Trouble at Big Six

Trust. It's a word often heard when board members and shareholders of Big Six, a 982-unit co-op complex in Woodside, Queens, talk about their former managing agent, Richard Stone, and what they think went wrong. Essentially, they say, we…

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Board Operations Working With Your Super
1995 Apr Working With Your Super

At eight o'clock on a weekday morning, you won't find Peter Grech hustling to catch a train or waiting in line for the bus. Nor will you find him snug in his bed, dreaming the morning away. Grech is a resident manager for the Alfred, a 224-…

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