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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…
A new bill is under consideration that will potentially change the way access agreements are struck between neighboring property owners for the purpose of completing required Local Law work. State Senate Bill S1305/Assembly Bill A1321 passe…
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 …
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 …
Individual unit owners, co-op corporations, and condominium associations are all always seeking ways to control and lower their energy costs. In these inflationary times, and with the City’s declared intent to make New York a carbon zero en…
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…
A new NYC law will place yet another inspection requirement on co-op and condo communities with parking facilities on their premises. Known as Local Law 126/2021, the measure is only the latest in a long and growing string of ordinances pas…
Co-ops evolved as a housing form in New York City primarily on the basis of exclusivity. Not long after workers’ unions and other professional and mutual interest groups made moves to establish cooperative housing expressly for their member…
There was a time not so long ago when having ground floor commercial space—or any rentable non-residential space, really—was a huge asset for a condominium or co-op building. The income stream from the space to the community helped offset o…
Over the last few decades, property technology, or 'proptech' has completely transformed how we live and work. Historically, the real estate industry has been slow to embrace technology - which means many co-op and HOA boards are missing ou…