Insurance is always a "hot-button" topic among co-op corporations and condo association boards. Since insurance is an annual expense that is not mandated by a union contract or a city tax assessment, many boards regularly "shop" their cover…
New York City is currently enjoying a period of prosperity and low crime rates. However, no matter how safe a building appears to be, it is important that the board doesn’t relax building security. If a building isn’t adequately secured, it…
One might assume that the insurance policies carried by a building would cover any mishaps that would affect residents. This, however, is a misconception. A co-op corporation or condo association takes responsibility for the structural aspe…
Many New York City co-ops have garages leased to the sponsor dating back to the co-op’s conversion. Though these garages, described by one judge as "a veritable gold-mine," throw off riches mostly to the sponsor, a little-known federal stat…
Building house rules are the "Thou shalt not’s" of the co-op and condo world. Unlike the proprietary lease or bylaws, which cover operational and administrative matters, the house rules cover behavior of the residents–you know, the types of…
Manhattan’s Upper East Side, at least in the prime real estate areas, is chock-full of parks and greenery, but lacks a convenient subway line. Wall Street area residents, on the other hand, have great subway accessibility–but not much of an…