Back From the Brink: Financial Ruin — and Recovery
happens infrequently, but when it does, it can be an enormous challenge: a co-op corporation or condo development has a long-running squabble with the building sponsor/developer, falls victim to long-term mishandling of funds — or outright fraud — by the board, or has to undertake a major unexpected or ill-prepared-for repair project. All of a sudden, they’ve got no money in the reserve fund, they can’t borrow against the property to make vital repairs, and residents are beginning to think they may have made a poor investment. Suddenly the whole building is on the precipice of insolvency. It’s a scary situation — but there are ways to edge back from the brink of financial wreck and ruin and get back on track. Here are some stories of communities who did just that. Read the article…………..
Junius Henri Browne bought one of the original flats in the Rembrandt, an eight-unit apartment building on West 57th Street
Community association living has many advantages and desirable qualities. Residents share expenses in order to be able to enjoy relatively
To the question of whether a Board should use, enforce, or sign unsigned documents or any certification approving them, I