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Back in the fall of 2019, the New York State Legislature passed a new and stringent law meant to protect and defend the rights of rental tenants. Because co-op boards technically fall under the legal umbrella of ‘landlord’, they were subjec…
It’s a seller’s market, or so the NYC real estate pundits are telling us. But what does that actually mean? Does it mean it’s easier to sell a home than it would be in a buyer’s market? Are units selling for more money, or more quickly? Do…
With all the pandemic-related restrictions being discussed in the media, it’s sometimes startling to realize how much renovation work is still going on in and around co-op and condominium apartments. It’s long been routine for co-op boards…
On December 22, 2021, Governor Hochul finally signed into law the amendment which exempts cooperatives from many of the onerous provisions of the Housing Stability and Tenant Protection Act (HSTPA) of 2019. Under the HSTPA, late fees impos…
On January 5th, Governor Kathy Hochul addressed New Yorkers in the annual State of the State Address. According to attorneys Brett Gottleib and Mitchell Korbey of the law firm Herrick Feinstein LLP, “While [Hochul’s] speech was silent with …
Night falls on the city; just as she’s about to close up shop for the day, a broker receives an email from an unknown sender. The sender is interested in purchasing a specific unit in a specific building - so interested, in fact, that they …
The Cooperator Events Presents a Virtual Town Hall: Budget or Lose It - Maintaining Optimal Cash Flow in Your Community Association. Sponsored by Axela Technologies WATCH ON DEMAND Raising assessments is never a popular move for a board t…
As Budgeting Season approaches for co-op and condo communities, it’s time for the boards of associations and corporations to consider how they will cover expenses and fund projects in the coming year and beyond. While recurring operating ex…
As part of NYC's Greener, Greater Building Plan , Local Law 87/09 requires building owners to have an energy audit conducted on their base-building systems, undertake energy-efficient maintenance practices as part of retro-commission…
Aging is expensive—and that goes double for residential buildings. Exterior deterioration is inevitable, mechanical systems do not last forever, and everyday foot traffic and wear take their toll on even the sturdiest structures. For many c…