Property insurance is one of the most important components of protection for common interest communities. It protects the property, association, corporation, board members, and residents from potentially financial consequences in the event…
Buyers who were looking to acquire homes before the city's new mansion and transfer taxes went into effect on July 1 was a factor in increased Manhattan co-op and condo sales during second quarter 2019. According to the latest Manhattan ma…
Opponents of an Upper East Side condo project are asking the city to squash the developer’s plans to build it, claiming that the developer is trying to circumvent zoning rules so it could make the luxury tower higher. Developer DDG is buil…
Throughout New York City's five boroughs there are myriad neighborhoods that attract a particular demographic due to history and culture. Astoria, Queens is as widely known for its Greek community as Greenpoint, Brooklyn is for its Polish o…
Everyone loves to own things—sometimes even many things. But occasionally, ownership of things can go too far and accumulation can grow problematic. In the modern parlance, a too-many-thing-haver is often referred to as a “hoarder,” an indi…
It was a very mixed second quarter 2018 for the Manhattan residential market (condos and co-ops), according to the latest report by Douglas Elliman. Those results included a decline in sales prices and number of closed sales, along with an…
Co-ops and condominiums are subject to more and more legislation affecting how they govern and interact with shareholders and unit owners. In fact, boards and residents alike should be aware of several new laws and regulations that have rec…
Commercial umbrella coverage is an essential protection from big liability claims against your building—but insurance markets have grown increasingly volatile in the last two years, and there are fewer programs offering adequate protection …
Q . Our condo board recently proposed a large loan for a capital expense. The bylaws stipulate monthly maintenance assessment based on size of the unit. This assessment includes maintaining a cash reserve for smaller projects. There is no …
It was not an overall strong first quarter of 2018 when it came to residential sales in New York City, according to the latest report by the Real Estate Board of New York (REBNY) . According to the report, the residential market exper…
While some co-op and condo communities have tried social media platforms like Facebook, Instagram, TikTok, or Twitter/X as ways to build community spirit and facilitate better communication between neighbors, management, and even the board,…
A penthouse at 565 Broome Street in SoHo has entered into contract at $40.5 million, the biggest luxury residential transaction in New York City for the week of July 30-August 5, according to Olshan Realty's most recent market report . I…
New York City's 2017 residential sales set a record high of $50 billion “driven by Brooklyn's all-time high annual consideration of $11 billion this year,” according to the latest fourth quarter 2017 report by the Real Estate Board of New…
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…
Unlike the residential markets in Manhattan and Brooklyn, co-op and condo sales in Queens have shown some resilience in 2018 -- but signs of trouble may be beginning to materialize. According to Douglas Elliman’s recent fourth quarter …
The tragic partial collapse and subsequent demolition of the Champlain Towers South Condominium in Surfside, Florida this past June revealed some gaping holes in the structures, governance, and oversight of the country’s multifamily buildin…
The New York City residential sales market continues to be on a streak—but for the wrong reasons. According to the 2018 second quarter report released by the Real Estate Board of New York (REBNY) last week, the New York City residentia…
Boards and managers in the tristate area and beyond know what a tall order it is to run a co-op, condo, or HOA; from structural maintenance to interpersonal communication and conflict resolution, the skills and strengths that make for effec…
A combination of rising prices and sales along with sliding inventory characterized fourth quarter 2016 for Brooklyn, Queens and Riverdale home sales in general, according to the latest report by Douglas Elliman Real Estate released on Thu…
With the stock market chugging along and the Great Recession of the late 'aughts in the rearview, the question might occur to some financially-savvy board members: Are our building's cash reserve assets performing at their best? Could they …