1997 Feb
Focus on... Management/Board Relations

Maintenance Clean Chutes and Ducts
1997 Feb Clean Chutes and Ducts

Michael Radomsky, on-site manager of a 16-unit prewar cooperative on Park Avenue, was hearing complaints from the residents about unpleasant cooking odors on the landings. To handle the building's problem, Radomsky put matters into the ha…

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Management Your New Management Company
1997 Feb Your New Management Company

Any major change takes some getting used to and hiring a new management company for your co-op or condo is no exception. Even though you're anxious to ring out the old, you can't help but be a little apprehensive about whether the new com…

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Buying & Selling Consider a Building's Fiscal Health
1997 Feb Consider a Building's Fiscal Health

One of the most important issues in deciding if a cooperative or condominium apartment is a wise investment is the financial status of the building itself. The key document that potential buyers should review is the annual financial state…

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Finance Tax Abatements Are Good News,
1997 Feb Tax Abatements Are Good News,

The City of New York, in its infinite wisdom, has classified properties into various categories. Class one properties consist of one-, two- and three-family homes and class two properties are multi-family residential properties including …

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Finance New Ruling on IRS 277
1997 Feb New Ruling on IRS 277

Cooperative housing corporations are not exempt from income taxation. Like any other taxpayer, a housing cooperative must pay tax on its taxable income, i.e., its gross income less allowable deductions. Not all amounts that would seem to …

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