2003 Jul
Focus on... Budget And Finance

Finance Avoiding Pitfalls
2003 Jul Avoiding Pitfalls

While many New Yorkers have navigated the process of applying and interviewing for - and eventually buying - a co-op or condo, securing a mortgage can be a complex, sometimes, lengthy process in which professional advice is recommended and…

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Finance Thank Your Lucky STARs
2003 Jul Thank Your Lucky STARs

In 1998, after receiving a "bill" for zero dollars and zero cents for the prior year's school taxes, some New York State property owners wrote checks to the government in that amount. They were convinced that a clerical error had been mad…

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Finance Timing It Right
2003 Jul Timing It Right

Sometimes a board has no choice about when to repair or replace some building feature or piece of equipment. If the boiler goes on the fritz in January, for example, it has to be fixed - period. Other projects, like interior design and ren…

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Finance When Apples Equal Oranges
2003 Jul When Apples Equal Oranges

A taxpayer normally recognizes gain or loss realized on the sale or exchange of property. However, pursuant to Section 1031 of the tax code, there is no recognition of gain or loss on the exchange of property for like-kind property. …

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Neighborhoods Manhattan's Crown Jewel-Keepers
2003 Jul Manhattan's Crown Jewel-Keepers

One hundred and fifty years ago, the New York State Legislature passed a bill designating land in the heart of Manhattan as a great central park. Today, the 843 acres that was saved from being swallowed up by developers is now treasured pu…

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Design Rooftops and Root Cellars
2003 Jul Rooftops and Root Cellars

Many buildings have square footage hidden away that could be converted to residential use. Hallways, rooftops, unused garbage rooms, basement closets, abandoned water tank rooms - all are potential additions to an adjacent shareholder's ap…

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Board Operations No Ifs, Ands....Or Butts
2003 Jul No Ifs, Ands....Or Butts

It's not easy to be a smoker in New York City these days. It has become commonplace to see office workers in front of skyscrapers lighting up, or to hear announcements prohibiting smoking in theaters and other public venues. And now, under…

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Finance Refinancing Your Cooperative
2003 Jul Refinancing Your Cooperative

In today's low interest rate environment, refinancing is the top agenda item for many cooperatives. However, while the current interest rates would seem to guarantee a "win-win" situation, a savvy board must take into account more than ju…

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Interior Keeping Your Cool
2003 Jul Keeping Your Cool

I'm often asked what a person can do to keep their air conditioning unit working properly. AC units are complicated pieces of machinery, but there are many things a homeowner can do to keep their unit running and avoid making expensive ser…

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Interior Air Conditioner Maintenance
2003 Jul Air Conditioner Maintenance

In order to keep your air conditioning unit running efficiently, here are some tips to keep its maintenance in tip-top shape. "¢ Do clean your AC unit often. "¢ Do keep the unit slightly pitched to the outside of your window or b…

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