Q: This question is on behalf of my neighbor. We own shares in a co-op in Long Island. She has had extensive water damage and now has mold in her unit. She emails the property manager and president of board to no avail. It’s been like this …
Q. This question is for my neighbor. We own shares in a co-op in Long Island. She has had extensive water damage and now has mold in her unit. She emails the property manager and president of board to no avail. It’s been like this for mon…
Q. I live in a co-op. Last year we had new windows installed, but the cost was greater than we’d initially been told, due to a DOB law requiring all apartments to have a set amount of air and light that necessitated the use of a different…
Even two years into the COVID-19 pandemic, Americans are finding that buying a home remains challenging. A growing work-from-home economy, fueled by households with newfound financial liquidity, has boosted the nation’s demand for homes. Me…
Last week we looked at the trend toward rebranding existing residential properties, the reasons why a co-op or condo community might decide to rebrand, and the potential effect of such a decision on property marketability and value. This we…
With the focus on climate change and how to fight it constantly sharpening, residential communities are seeking ways to reduce their contribution to the problem, commonly known as their carbon footprint. Carbon reduction is necessary both t…
The real estate market since the start of the COVID-19 pandemic has been tough on all buyers, but aspiring first-time buyers may have struggled most of all. For much of 2020 and 2021, the housing market faced a challenging combination of h…
According to a new study by Construction Coverage examining where and to what degree homebuyers are most impacted by rising mortgage interest rates, those rates are now more than double what they were in early 2021. As a result, spirali…
New York City is known for its hustle - after all, as the song says: if you can make it here, you can make it anywhere. But if ‘making it’ here includes owning a median-priced home, a new report by nationwide moving coordinators HireAHe…
According to a new report by construction industry advisory firm Construction Coverage, after stiff competition and fast-rising prices—approximately 40% in a two-year span—the residential housing market began cooling in the second half …
America’s homebuyers have had an extraordinarily difficult few years. Heavy demand and scarce inventory in late 2020 and 2021 led to record growth in prices, while high inflation made it more difficult to save up for a home. As the Federal …
The U.S. has long suffered from an inadequate supply of housing. From a slow recovery in new construction after the Great Recession, to onerous zoning regulations and building codes, to the recent impacts of inflation on building materials,…
One of the lingering effects of the pandemic is the availability of new - often less expensive - condominium units for sale in buildings that experienced major construction delays and foreclosures during the crisis. While these otherwise we…
Co-op boards once had near absolute power to reject applicants for purchase of shares for almost any reason. Over the years, the courts and New York City have narrowed that prerogative in an effort to curtail housing discrimination. Effecti…
At the heart of volunteerism is the notion of doing something for the common good. For many, choosing to live in a co-op or condo community is also choosing volunteerism – specifically, volunteering for board service. But within that sense …
On August 17, 2020, Governor Andrew Cuomo announced that all gyms and fitness centers in New York State may reopen for operation on Wednesday, September 2, 2020. (Indoor group fitness classes may be delayed beyond that date.) Upon reopening…
On August 17, 2020, Governor Andrew Cuomo announced that all gyms and fitness centers in New York State may reopen for operation on Wednesday, September 2, 2020. (Indoor group fitness classes may be delayed beyond that date.) Upon reopening…
Like so many other communities throughout the United States, New York City remains segregated in many respects—racially, economically, and socially—but even so, the city has achieved a level of housing integration despite the systemic force…
For the first time in decades, serious inflation has reared its ugly head. Costs for nearly everything—including the goods and services needed to operate and maintain multifamily properties—are up an average of 10 percent. Some sectors, par…
In early 2020, our firm was hired to prepare a reserve study for an unremarkable 136-unit, 12-story condominium in south Florida. It was the kind of association you could drive right by without noticing, not much different from all the othe…