The New York City Department of Buildings (DOB) recently published proposed rules for implementing Local Law 97 (LL97), landmark legislation initially passed in 2019 aimed at limiting the city’s carbon emissions. These limits are the center…
Lead paint has remained a critical health hazard in New York City for decades, especially among young children. To combat this, the City has implemented rigorous lead testing and remediation abatement laws, imposing significant penalties fo…
In its never-ending battle against rats and other vermin, New York City continues to refine its rules and approach to handling the mountains of garbage produced by more than 8 million people on a daily basis. The latest skirmishes concern s…
While many NYC building owners and managers have committed to reduce energy waste in their properties, promote efficiency, and strive for a greener city and planet, the sweeping nine-bill Climate Mobilization Act passed in May of 2019 and t…
With filings for Local Law 97 and other related energy and environmental regulations looming, many co-op and condo boards may have questions about completing the filings properly and on schedule. While it’s best - crucial, in fact - that yo…
Over the past four years, home affordability in the United States has rapidly deteriorated. A combination of home price growth, increases in mortgage rates, and income gains that have failed to keep pace has made it significantly harder for…
The Background In a recent case, the Community Associations Institute (CAI) and several community associations sought a preliminary injunction against the enforcement of the Corporate Transparency Act (CTA). The CAI argued that requiring t…
The past few years have seen a dramatic swing from the red-hot market for condos and co-ops nationwide to the more challenging conditions markets around the country are experiencing today. Some of the underlying factors for this shift are b…
As we step into 2025, the new Administration's actions are already reshaping housing policy. The recent White House announcement to temporarily pause agency grants, loans, and other financial assistance programs highlights the importance of…
Deadlines for benchmarking reporting for all apartment buildings - co-ops, condos, and rentals alike - has been postponed from May 1, 2022, to May 31, 2022. The postponement gives building and property owners more time to accumulate and org…
According to the Foundation for Community Association Research’s Community Association Fact Book 2023, 30% of the U.S. population currently resides in a condominium community, housing cooperative, or homeowners association, with numbers of …
2025 is a critical year for compliance with Local Law 97, which seeks to reduce New York City’s carbon footprint to zero by 2050. This year marks the beginning of the five-year period from 2025 to 2030, in which key requirements must be met…
It’s been a dramatic few years for the condo and co-op market, swinging from red-hot to rather difficult, with most regions nationwide feeling at least some of the effects. Some of the factors underlying the shifts are rooted in pre-pandemi…
The New York City Department of Buildings (DOB) has released its 2021 Covered Buildings List for benchmarking compliance. All properties on this list must submit a benchmarking report of their 2020 utilities data by May 1, 2021. As a …
No. 4 heating oil must be phased out of all New York City buildings sooner than expected, and property owners who fail to comply with the new regulations could face hefty fines. A City Council vote last month approved a bill mandating …
Back in 2021, Congress passed the Corporate Transparency Act (CTA), a federal law requiring most corporations, LLCs, and other such entities to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The …
Several new environmental rules are in the pipeline for multifamily co-op and condo communities in New York City. One, Local Law 157 relates to natural gas detectors, and the other, Local Law 88, as amended by Local Laws 132 and 134, requir…
Local Law 157 was passed to prevent tragedies like the 2014 East Harlem and 2015 East Village gas explosions. By requiring the installation of natural gas detectors in all residential units with gas appliances by May 1, 2025, the law intend…
As the push to reduce our carbon emissions and maintain livable conditions intensifies, sustainability has become an increasingly important concern for multifamily buildings—including condos, co-ops, and HOAs. More and more legislation and …
New York Governor Kathy Hochul’s Labor Day signing of four pieces of new legislation protecting and supporting workers gave those laws a lot of visibility. (Readers of CooperatorNews can find a summary of one of those four pieces of leg…