Category: On The Board

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

3/17/2026 $24.8M condo in NYC’s iconic Flatiron Building finds a buyer - New York Post

An 18th-floor residence asking $24.8 million in the Flatiron Building has found a buyer. Built in 1902, the famous, neighborhood-defining landmark at the intersection of Fifth Avenue and Broadway recently converted to 38 residential condos for the first time.
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3/12/2026 Mamdani unveils reforms to NYC’s sidewalk shed rules - 6sqft

While Mayor Zohran Mamdani may disagree with much of former Mayor Eric Adams’ agenda, the two align on one issue: removing New York City’s sidewalk sheds. Last week, the mayor announced a series of new initiatives aimed at removing longstanding scaffolding, with a focus on sidewalk sheds at public housing developments.
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3/11/2026 21-story condo conversion in Tribeca moves ahead - 6sqft

A former city office building in Tribeca that has been vacant for about a decade is one step closer to becoming a luxury residential tower. Manhattan Community Board 1 on Monday approved the expansion and conversion of 101 Franklin Street (formerly 250 Church), which will turn a 17-story 1940s building into a 21-story condominium with 72 apartments. The proposal heads next to the Department of City Planning.
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3/9/2026 Ex-chairman of Walt Disney buys $5M Tribeca condo - Crain's

An ex-Disney chairman has landed in Tribeca, paying $4.9 million for a condo there.
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3/5/2026 A $30M mint-condition NYC residence lists for the first time ever — complete with ‘His’ and ‘Hers’ living rooms - New York Post

A full-floor dwelling at the prestigious 845 Fifth Ave. co-op is on sale for the first time in nearly 60 years, looking nearly untouched from that long-ago era.
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3/3/2026 Billionaire British developer has sold his NYC townhouse for $55M after 6 days for sale - New York Post

British luxury developer Christian Candy and his wife, Emily Crompton-Candy, have sold their Upper East Side townhouse for $55 million after snapping up a condo along Manhattan’s Billionaires’ Row. The couple had purchased this stately limestone property in 2022 for $48 million, undertaking renovations before attempting to flip it for a sizable profit.
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2/27/2026 Dumbo penthouse closes for $16.25M, new record for Brooklyn sponsor condo - 6sqft

A full-floor penthouse at Dumbo’s tallest tower officially closed this week, setting a new record for the borough. Penthouse B at Olympia, a 33-story condo at 30 Front Street, sold for $16.25 million, becoming the highest price-per-square-foot ($3,297) deal ever for a Brooklyn sponsor condo. The home might look familiar; the condo was featured in Spike Lee’s 2025 movie “Highest 2 Lowest” as Denzel Washington’s fictional apartment.
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2/25/2026 New Empire Corp. to build 130 condos on $37.9M Kips Bay assemblage - Crain's

A Midtown developer plans to replace a quartet of low-rise buildings in Kips Bay with a 14-story condo tower, the latest project from a firm that's been active in the neighborhood for years.
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2/23/2026 New condo planned for vacant Chelsea lot next to the High Line - 6sqft

A vacant Chelsea development site once owned by the late New York City developer Brandon Miller has sold for $53 million and will become a new condo building. Adirondack Capital Partners on Monday announced that Toll Brothers purchased the roughly 12,000-square-foot parcel at 118 10th Avenue from Benny Barmapov, with plans to build an 85,000-square-foot condominium. Miller had previously planned a 10-story, 100,000-square-foot office building on the site, according to The Real Deal.
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2/20/2026 NYC’s oldest intact apartment building has listed for $15M - New York Post

A nondescript Gramercy Park walk-up is considered to be Manhattan’s oldest intact apartment building. And now, it’s for sale. The $15 million listing at 129 E. 17th St. would be the first time the historic property has sold in more than two decades, according to city records. Listing agent Haley Hasho of Exodus Capital represents the sellers.
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2/18/2026 This historic Syracuse factory just became 38 affordable condos — priced as low as $127,000 - Syracuse.com

Thirty-eight condominiums that each come with a $220,000 state subsidy are up for sale in a former Syracuse factory building that dates to the 1880s.
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2/11/2026 30-story condo will be the tallest building in Greenwich Village - 6sqft

The tallest building in Greenwich Village is moving forward. Construction financing was secured last week for a new luxury condominium at 11 West 13th Street, a planned 30-story tower with 34 residences that will rise well above the neighborhood’s next tallest buildings. Despite backlash from preservationist groups, which filed a zoning challenge with the Department of Buildings, the project is moving ahead, after developers Legion Investment Group and EJS Group secured $190 million in construction financing last week.
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2/10/2026 Luxury New York City Building Fuels Condo Sales—but Residents Will Have To Wait Until Next Year To Move In - Realtor.com

Frigid temperatures may be gripping Manhattan, but the luxury real estate market is anything but frozen. Trophy properties—valued at $10 million and above—led the wave of luxury contracts signed. In total, 36 properties went under contract for the week ending Feb. 8, with 13 being trophy properties, according to the Olshan Realty Luxury Report.
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2/6/2026 Manhattan’s luxury housing market is roaring back toward 2016 peak thanks to Wall Street bonuses - NY Post

Manhattan’s luxury housing market is quietly edging back toward its mid-2010s swagger after a decade marked by excess, collapse and recovery. And this time, the rebound appears to be powered by real money, not just empty supply. New data shows the borough’s priciest homes are nearly back to their 2016 highs, a milestone last seen during the condo boom that reshaped Manhattan’s skyline.
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2/4/2026 NYC’s top deals: Pontiac Land Group sells MoMa tower condo for $30M - Real Deal

There were 222 transactions totaling $354 million filed in New York City records from 4 p.m. on Friday, Jan. 30, through 4 p.m. on Monday, Feb. 2, 2026.
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2/2/2026 My NYC condo flooded during the winter storm — I wish I had these 3 items on hand - NY Post

They don’t make them like they used to. Moving into brand-new construction is always a bit of a gamble, but I never expected to deal with two floods in the first year of living in my Brooklyn condo. That is, until this week’s Polar Vortex swept through, exposing some serious flaws. Lesson learned.
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1/29/2026 Four condos at Madison Avenue building enter contract, one tops Manhattan luxury sales - Crain's

Four condos in the same Upper East Side residential building went into contract last week, with one emerging as the week's priciest deal across Manhattan, according to Olshan Realty's weekly luxury market report.
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1/28/2026 Jose Cuervo Heir Lists Versailles-Inspired Manhattan Condo for $75 Million - Mansion Global

An heir to the Jose Cuervo fortune has officially decided to part with his apartment at Manhattan’s 432 Park Avenue.
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1/27/2026 Inside the first home to list for sale at NYC’s famed Flatiron Building - NY Post

For the first time in 124 years, New Yorkers can call the Flatiron Building home. The historic conversion of New York’s most-photographed landmark into luxury condominiums culminated it its first-ever residential listing over the weekend, The Post has learned.
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1/26/2026 A cut above: why the Diamond Condo is NYC’s brightest gem - Real Deal

In the heart of NYC’s Financial District, a nineteenth-century gem has been cut and polished into the city’s most exclusive residence. The Diamond Condo, a converted ten-story former skyscraper, pays homage to old New York. Built in 1892, the structure once served as the Diamond Exchange, where nearly every precious stone entering the US was traded.
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