Many cooperatives and condominiums in New York have long benefitted from a tax abatement program under Real Property Tax Law 467-a. In September of 2021, Governor Kathy Hochul put new eligibility requirements into this law that go into ef…
A penthouse in United Nations Plaza was among 23 Manhattan luxury residential properties listed at $4 million or more that signed into contract last week. It marked six straight weeks of 20 or more sales, according to Oshan's latest r…
One could be forgiven for growing tired of reading about how expensive New York City real estate is. The prices trend ever upward--everybody gets it. But the curiosity of even the most cynical spectator might be piqued if he or she knew the…
While the majority of apartment dwellers are by nature accustomed to less living space than, say, single-family suburban homeowners, those in denser areas can offset that lack of personal square-footage by living a larger percentage of thei…
While the majority of apartment dwellers are by nature accustomed to less living space than, say, single-family suburban homeowners, those in denser areas can offset that lack of personal square-footage by living a larger percentage of thei…
When purchasing a residence in a condominium, homeowners association or a co-op, you by default agree to reside in a community association. You live in relatively close proximity to your neighbors and equally share the right to utilize comm…
The recent failures of Silicon Valley Bank (SVB), Signature Bank, and First Republic have shaken public faith in the US banking industry, again. While not the disastrous level of bank failures that led to the Great Recession in 2008, recent…
As The New York Times pointed out on May 18, 2023, the national home sales market is in a state of gridlock. This is largely thanks to short supply in the resale market, which is itself the result of potential sellers – those who ordina…
As 2024 draws to a close, boards and managers should be aware of new legislation which profoundly impacts admissions practices in community associations in New York City. The legislation, popularly known as the Fair Chance for Housing Act,…
Despite some fits and starts, the process of converting 1,000 rooms at the Waldorf Astoria hotel into 375 condo units is nearly complete – and Chinese developer Anbang announced on June 11th that it will be launching sales at the property t…
Perhaps the most critical element in a successful marketing campaign for a co-op or condo unit is the price. Well, how is that price determined? What factors are considered? Whose expertise is needed to arrive at the optimum number? Is …
The New York Public Library is undertaking a substantial renovation at its Mid-Manhattan branch on Fifth Avenue, to the tune of some $200 million. As the New York Daily News reported, the library closed on August 1 for a project that …
Two major residential projects are garnering attention in a New York City neighborhood mainly known for stocks, bonds and derivatives. The area in question is the Financial District, where a couple of noteworthy office-to-condo conversion…
The U.S. Treasury Department announced in January that it will begin to track illicit cash purchases of luxury condos in New York and Miami. In New York, the new regulations will apply to cash transactions of $3 million or more. The federal…
First-time condo buyers will be getting a break from the government regarding mortgages. The Associated Press reported Wednesday that the Federal Housing Administration has revised its current guidelines to make it convenient for those…
A group of residents from a Chelsea condo took an unusual approach to protect their views from being blocked by a proposed neighboring residential tower that developer Extell wanted to build. Rather than suing, the condo owners paid Extell…
Two Manhattan condo owners who allegedly converted their apartments into illegal micro-units are now in hot water. The New York Post reported about one owner at 165 Henry Street on the Lower East Side who is accused of transforming h…
Last October, The Cooperator reported on a legal fight between the non-profit New York Public Library and the board of the Fifth Avenue Tower condominium association. The disagreement stemmed from the library’s attempt to undergo …
A popular Nike store in SoHo is attracting the attention of a neighboring condo, but it's not over sneakers. The Daily News reported on January 18 that the condo board at 22 Mercer Street in Manhattan is suing the nearby NikeLab…
Another New York City building could be next in a line of properties that have recently extricated themselves of the Trump name following the election of Donald Trump to the U.S. presidency in 2016. Crain's New York Business reported…