Q We’re in the process of purchasing two studios in a small brownstone co-op. Our plan is to combine them into one apartment. How will reducing the number of dwellings in the building affect the overall co-op in terms of taxes, mortgage…
Q I’m currently the vice president for our co-op, a 334-unit community on Long Island. We’re having difficulties with two of our board members. One has been on the board for five years, and has been very destructive. For example, this b…
Q Our board president was given a violation for doing electrical work without a permit and blamed the superintendent for reporting the work to the New York City Electrical Board. She asked the board for the reimbursement for the cost o…
Q Our co-op board has been sued by a shareholder. We’ve notified our directors and officers (D&O) liability carrier of the lawsuit, and our carrier has in turn appointed a defense counsel to defend us against the lawsuit. Do we as a boar…
Q Our building (which is comprised of 17 one-bedroom units) is heated by a hot water gas boiler with baseboard radiators. The radiators are NOT individually controlled. The building is about 30 years old, and the boiler will soon need …
Q I am a rent-stabilized tenant in a co-op building. I was a tenant in the building before it became a co-op, and have had numerous problems with the owners. Currently at the top of my list is a discrepancy over my security depos…
Q At our recent annual meeting we were shocked to learn that a single shareholder had, without any discussion, filed a complaint with the NYC or NYS over the absence of a ramp or some other special equipment (lift or elevator, possibly)…
Q I have been an apartment owner in a Woodside cooperative since 1985. Presently, we shareholders are faced with the problem of an overly controlling board. I am looking for an explanation, in layman’s terms, of ARTICLE III, title…
Q My co-op has a balloon mortgage that will burst in approximately 5-6 years if not refinanced. We were told that the lender will not allow a refinancing for at least another year, if not longer, and has refused to do one for the past …
Q Our board selected a Nominating Committee, which chose only the current board members as candidates. Six additional residents wanted to run, but their names were left off the ballot. The committee claims it selected the best for the …