In a recent legal battle, LiNQ1, LLC found itself at odds with 170 East End Condominium and its Board of Managers over allegations of negligence, breach of contract, and more. This case, indexed as No. 154594/16 Appeal No. 953 Case No. 2022-04598, serves as a cautionary tale for New York condominium boards, emphasizing the importance […]
Banning Short-Term Rentals: A Guide to Local Law 18 (NY)
Short-term rental platforms, such as Airbnb and VRBO, are a thorn in the side of many co-op and condo buildings in New York City. With the recent passage of Local Law 18, often referred to as the short-term rental registration law, boards are getting some welcome relief. The law primarily targets three key entities: the […]
Electrification Is Facing Some Strong Headwinds (NY)
Earlier this week Habitat reported on 420 Beekman Hill, a 110-unit Manhattan co-op that’s replacing the building’s steam heating, cooling and hot water system with rooftop electric heat pumps. The cost of the $3.2 million project is being defrayed by more than $1 million worth of incentives from Con Edison and the New York State […]
Perseverance Pays Off for the Board of the New Hampshire House (NY)
After a year of intense grassroots efforts, the board at New Hampshire House, a 139-unit condo in Rego Park, Queens, finally succeeded in persuading owners to take out a $3 million loan to repair the building’s facade. The board’s success means the condo will finally be able to perform the necessary repairs mandated under the […]
How to Handle New Construction Defects (NY)
When buying a condo apartment in a new construction, it’s very likely the building will have some defects, whether it’s issues with the roof, the elevator or amenities. Defect claims occur in about 90% of new construction condos in New York City, and approximately 30% to 40% of these end up in litigation. Read the […]
Short-Term Rentals in Co-ops and Condos Plunge as New Law Kicks In (NY)
Many co-op and condo advocates applauded when the city adopted Local Law 18 last year — a tool for ending illegal short-term apartment rentals. And since the law finally went into effect last month, the reason for the applause has become clear. Read the article…………………………….
In a Big Boost for Co-ops and Condos, State Revives J-51 Program (NY)
Gov. Kathy Hochul has signed legislation that will authorize the city to replace the J-51 program, which expired in June 2022, with the Affordable Housing Rehabilitation Program. The new program, Crain’s reports, will mirror J-51 by providing co-op and condo boards and landlords with property tax exemptions in exchange for renovating multifamily buildings. Read the […]
Heat pumps may be the solution to a host of problems, but can your building handle them? (NY)
Heat pumps seem like a logical solution for individual New York City condo and co-op owners who want to regulate their own heat and switch to a more efficient, greener and cheaper energy source that has a new tax credit, so how should a board evaluate an owner or shareholder’s request to install them? Read […]
The Evolution of Today’s Co-op Boards: “They Want Progress” (NY)
With condos dominating the market and commanding higher prices, some co-op boards have turned to new and in some cases offbeat measures to boost their coffers and lower their monthly maintenance costs. From investing in commercial property to renting out rooftop space, the buildings are changing their ways to contend with the economic challenges. Read the […]
What is a working capital fund contribution for condos? Are these common in NYC?
If you’re looking to buy a condo in New York City, you’ve probably experienced sticker-shock at the extra cash you have to spend on closing costs. Those fees will likely include something called a working capital fund contribution for those purchasing a condo at a new development. Read the article……………………………
The Property Management Contract (NY)
Retaining a new management company is not unlike getting married, but instead of romance, there’s a management contract. Each company has different clauses in their standard contract, and it’s important to understand the scope and limits of these terms. You should also know that you can negotiate a property management contract. Read the article………………………………..
3 ways to lower your condo or co-op building’s insurance costs (NY)
Insurance can be a life saver for condos and co-op buildings facing problems such as flooding, accidents, or lawsuits. But it doesn’t come cheap. Read the article…………………………….
Castle Village Is a Snapshot of the Pressures on City Co-ops and Condos (NY)
When its 65-foot-tall retaining wall collapsed onto the Henry Hudson Parkway in 2005, shareholders in the Castle Village co-op were on the hook for $27 million in repairs. That trauma is ancient history, but today those shareholders are faced with rising costs that are less dramatic but possibly even more devastating. And they’re emblematic of […]
Bill Seeks to Put Off Local Law 97 Enforcement by a Decade (NY)
A new bill introduced to the city council by two Queens Democrats would push back enforcement of Local Law 97 by a decade, part of an effort to protect middle-class co-ops and condos in the outer boroughs. Read the article………………………………
Time to Give Your Governing Documents a Tune-up? (NY)
Like the family car, co-op and condo governing documents need periodic tune-ups if you want to avoid costly breakdowns in relations between boards and residents. The “mechanic” guiding these tune-ups will be the board’s attorney. Here’s a check list: Read the article…………………………
Castle Village Is a Snapshot of the Pressures on City Co-ops and Condos (NY)
When its 65-foot-tall retaining wall collapsed onto the Henry Hudson Parkway in 2005, shareholders in the Castle Village co-op were on the hook for $27 million in repairs. That trauma is ancient history, but today those shareholders are faced with rising costs that are less dramatic but possibly even more devastating. And they’re emblematic of […]
Co-op and Condo Green Retrofits Are Good for the Environment — and the Economy (NY)
All those workers installing solar panels on New York City co-ops and condos, or replacing steam radiators with electric heat pumps, or performing other clean-energy retrofits are not only helping the environment. They’re helping the economy. Read the article………………………..
New Rules Define “Good Faith” Efforts to Comply With Local Law 97 (NY)
The other shoe has finally dropped. After issuing a first round of rules late last year on how co-op and condo boards can comply with Local Law 97, the city has now released a second round of proposed rules. The new rules will be welcome news to boards that are worried about the high cost […]
RPAPL 2001 Does Not Serve As Time-Bar to Condominium Board Requesting That Unit Owner Remove Structures From Outdoor Space )NY_
……a recent case filed by a condominium unit owner that touches on concerns related to the use of outdoor space associated with a cooperative or condominium apartment, such as who actually owns the space and if costs associated with the use of outdoor space can be charged. Read the article………………………..
Simple Ways Co-ops, Condos, & HOAs Can Help the Environment
Nobel Prize–eschewing poet and folk-rock music legend Bob Dylan might have been the first person to be known as “going electric” (at the Newport Folk Festival in 1965), but as with much of his oeuvre, the world is now following in his footsteps. Now it is imperative that as many people, industries, businesses, and buildings […]
Q & A: Can a Condo Board Spy on Staff and Unit-Owners? (NY)
Q: The board president at our Midtown East condo building has installed cameras above the doorman’s desk and in the passenger and commercial elevators. We suspect the cameras monitor conversations, as well as everyone’s comings and goings. But only the board president and our superintendent can see the video footage. The doormen go outside so […]
3 Tips for Weathering Today’s Hard Insurance Market
Today’s so-called hard insurance market is the result of a perfect storm. Record personal injury claims have driven up the cost of liability insurance. Umbrella policies for excess liability protection are shrinking, with fewer carriers offering less coverage at higher prices. Property insurance premiums are soaring due to increased labor and material costs. And reinsurance […]
Condo Unit Owners have to Pay Their Common Charges
The Supreme Court in Richmond County threw out a condo unit owner’s defenses to a nonpayment case seeking a money judgment for common charge arrears. The Court found that the affirmative defenses by the investor condo owner were boilerplate and couldn’t withstand summary judgment. Read the article………………………..
The Impact of Prevailing Wages Mandate on NYC Co-ops and Condos
Have you ever considered the potential ramifications of recent mandates on the territory of New York City co-ops and condos? Let’s delve into the intricate world of the prevailing wage mandate. If you’re a board member in a union-affiliated co-op or condo, this may or may not have an effect on you. However, for those […]
It’s Hurricane Season. Do You Know the New Rules on Flood Insurance?
Hurricane season is here. All co-op and condo boards — and especially those whose buildings are located in or near flood zones — need to be aware that the insurance landscape is changing right alongside the Earth’s climate. Read the article………………………..
Condo Board’s Win-Win: Saving Money While Saving the Planet (NY)
Ray Murphy isn’t trying to save the planet. He’s trying to save money. As it turns out, he’s doing both. Murphy has been the resident manager at the 29-story, 266-unit Avery condominium on the West Side of Manhattan since shortly after the building opened in 2009. In that time he has overseen three capital projects […]
Court Upholds Law Requiring Registration of Short-Term Apartment Rentals (NY)
In a ruling sure to thrill co-op and condo boards, Judge Arlene Bluth of New York State Supreme Court has rejected Airbnb’s attempt to overturn Local Law 18, which requires short-term rental hosts to register their units with the city before they can get paid. With the failure of Airbnb’s last-ditch legal ploy, Crain’s reports, […]
Fair Billing, Bright Futures (NY)
Sub-metering in master-metered buildings simplifies billing and brings brighter prospects for energy efficiency. Most co-op and condo owners in New York City are either directly metered by ConEd, or already sub-metered. However, there is still a small percentage of buildings that are master-metered. Those buildings need to install sub-meters before January 1, 2025 to comply […]
A Primer for Co-op and Condo Boards on How to Handle Hoarders (NY)
With aging populations, many co-op and condo boards are struggling with residents whose abilities to care for themselves are greatly diminished. In some cases, an elderly shareholder or unit-owner may only need greater attention from her neighbors and building staff. Read the article………………………..
Time Is Running Out for Co-ops and Condos to Comply with Local Law 97 (NY)
Jessica Tusing, the director of compliance at Argo Real Estate, a Manhattan-based property management firm that oversees about 120 residential buildings across the city, tells amNY that the longer co-op and condo boards wait to comply with Local Law 97, the worse the financial repercussions will get. Read the article………………………..
Smoking Marijuana May Be Legal, but Co-op and Condo Boards Can Ban It (NY)
The first thing co-op and condo boards need to remember is that the Smoke-Free Air Act of 1995 banned smoking in most public places in New York City, including the common areas of multifamily dwellings, such as lobbies, laundry rooms, stairwells, hallways and elevators. So smoking weed in common areas is out. Read the article………………………..
Resources for Multifamily Boards: Where Communities Go to Stay in the Know (NY)
The Community Associations Network (www.communityassociations.net) is an online resource that aggregates news and information related to co-ops, condos, and HOAs. There, boards and service professionals can access the latest on legislation, events, and issues pertaining to association living and governance throughout the U.S. and Canada. Read the article………………………..
Do Marijuana Smokers Have Special Rights in Your Co-op or Condo? (NY)
The possession and use of marijuana by persons who are at least 21 years old is now legal in New York, as is the sale of marijuana and other cannabis products by New York State licensed dispensaries. However, a number of our cooperative and condominium clients have asked whether they may ban the smoking of […]
A New Tool for Co-op and Condo Boards to Track Homeowner’s Insurance (NY)
Fire ravaged a six-story condominium in Brooklyn’s Sunset Park neighborhood in 2019, causing the roof to collapse. When the flames were doused, it came to light that a significant number of the unit-owners had little or no homeowner’s insurance. Read the article………………………..
For Co-op and Condo Boards, Many Paths to Electrification (NY)
Less than six months from today, New York City’s Local Law 97 goes into effect. Most co-op and condo boards already comply with the 2024 caps on their buildings’ carbon emissions, and thus are not facing imminent fines. But the caps become more stringent in 2030 and in succeeding years, so boards need to start […]
Buying a Co-op or Condo? Don’t Forget New York’s High “Hidden Costs.”
With most people fixating on higher interest rates, rapidly rising housing prices and the paucity of inventory, it’s easy to forget the “hidden” costs of homeownership, including property taxes, homeowner’s insurance, utility payments and maintenance, The New York Times reports. Read the article………………………..
Does Your Co-op or Condo Have an Alternative Parking Plan? (NY)
A fatal parking garage collapse in Lower Manhattan. A looming deadline on the first round of mandated inspections of parking garages. The prospect of major garage repairs — and the need to relocate cars while those repairs are completed. Read the article………………………..
Understanding Local Law 97 (NY)
Local Law 97, part of New York City’s ambitious Climate Mobilization Act, is set to revolutionize the way buildings in the city approach energy consumption and carbon emissions. Co-op and condo owners, as well as their building’s boards, need to familiarize themselves with the critical dates and fine structure outlined by the law. Read the article………………………..
Is Your Condo on Fannie Mae’s Blacklist? Listed Communities Face Big Problems Borrowing
As has been widely reported lately, Fannie Mae, which is under the conservatorship of the Federal Housing Finance Agency (FHFA) has developed a secret blacklist of condominiums, HOAs and co-ops that are ineligible for “conventional financing”, i.e. loans that can be sold on the secondary market. It will be difficult for owners in these blacklisted […]
Answers to 5 Pressing Questions on Local Law 97 (NY)
Beginning in 2024 — about seven months from now — co-op and condo boards in larger buildings will have to reduce their carbon emissions under specified caps to comply with Local Law 97. Failure to do so will result in fines. The caps get more stringent in coming years, with the ultimate goal of reducing […]
Can A Home Owner’s Association Legally Take Your House In NY State
Homeowner’s associations can be a pain in the behind, but can they really take your home if you don’t abide by their rules? We’ve all heard of HOA horror stories. Sometimes you pay your HOA fees and they do absolutely nothing to make the neighborhood better or enforce basic rules to keep the neighborhood beautiful […]
Amending Your Governing Documents: Why, When, & How to Make Changes
In addition to their boards, common interest communities are governed by a set of foundational documents. In a condominium, those documents are the declaration and bylaws; co-ops also have bylaws, as well as a unique document called a proprietary lease. In addition, both condos and co-ops have a set of house rules that can vary […]
6 cheap or no-cost energy efficiency fixes for your NYC co-op or condo building
Most co-op and condo buildings have to meet New York City’s new energy emission requirements and make the switch from fossil fuel heating and cooling systems to electric alternatives. If you are on your building’s board, this can feel like an overwhelming challenge—but there are some low- or even zero-cost changes your building can implement […]
Coop and Condo Boards should Evaluate Parking Garages in their Buildings (NY)
The structural stability of parking garages is being analyzed more closely by NYC DOB in response to the most recent collapse in lower Manhattan during April 2023, killing one person and injuring five others. Dozens of garages with potential hazards were identified and some were ordered closed totally or partially until their structural defects could […]
Report Reveals Dozens of Parking Garages Have Structural Problems (NY)
New York City is known for slamming the door after the horse has left the barn. When mortar worked loose from a building and killed a pedestrian, the city passed Local Law 11, now known as the Facade Inspection and Safety Program, which requires inspections and necessary repairs every five years. When faulty gas lines […]
These Co-op and Condo Boards Used Imagination to Avoid Litigation (NY)
Beset by rising fixed costs everywhere they turn — from facade repairs to property taxes, insurance premiums, green retrofits and staff payroll — co-op and condo boards sometimes overlook one area where they can actually control costs: legal fees. The key, say numerous lawyers, is to pursue dispute resolutions that avoid litigation. Translation: stay away […]
Preparing for Local Law 97 (NY)
New York City’s Local Law 97 is set to go into effect in 2024 and is aimed at reducing carbon emissions from buildings over 25,000 square feet. To comply with the new emissions standards, building owners and operators need to start preparing now. Here are the top 5 tips on how to get your building […]