Q I am the vice president of a board in a 10-unit co-op located in Queens with an unoccupied residential basement apartment that was originally a live-in super’s apartment. We, the board, are exploring the possibility of renovating it an…
Q Should a real estate developer be involved in construction projects in his or her building or is it more feasible to let an independent general contractor with no ties to the developer do the actual construction works? —Cu…
Q My co-op is about to engage in a multi-million dollar energy upgrade project. The board president has decided to not allow me—a newly elected member of the board— and any shareholders access to review the documents on this project. How…
Q If a building decides to adopt a transfer tax, can they impose a tax when an apartment is sold to an outsider but exempt from the tax when selling to an insider? The apartments that have been combined with other apartments, (three …
Q Three shareholders organized the development of 861 square feet of unused courtyard space behind their building, after having surveyed the building for interest (57 percent of shareholders responded—of which 70 percent were in favo…
I currently run my family’s construction business and have been doing so since I left management business over four years ago. Recently, I was asked to renovate an apartment for a client in a luxurious East Side apartment building. The b…
Q Our building is seriously considering replacing our present cable television with a satellite dish system. Cablevision installed TV cables and equipment in our hi-rise residential condo building several years ago, and has continued to…
Q My parents are both in their seventies and have begun setting their financial affairs in order. They have put whatever assets they own, such as cars, stocks and bonds, into their family trust in order to simplify their estate and avoi…
Q Our 60-unit, self-managed co-op changed its bylaws about ten years ago to allow parents to sublet from their children and vice versa. The bylaws were changed with the condition that the flip tax would continue with any transfer of the…
Q I live in an older co-op that has eight large roof-terraces from 300 to 500 square feet. We have experienced leaks emanating from these terraces, over the years, to the apartments below. No one is able to use the terraces except the …