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 […]
After a Damaging Leak, Co-op Board Installs Sensors to Avert a Repeat (NY)
…..a pipe in a vacated — and renovated — ninth floor apartment started leaking, possibly assisted by the cold weather and the fact that water was not moving in the unused pipe. Water traveled all the way down to the second floor of the 14-story building before a housekeeper entered a vacated apartment on the […]
Deadly E-Bike Fires Spark Federal Bill to Regulate Lithium-Ion Batteries (NY)
When the New York City Council passed a package of bills last month designed to halt the wave of deadly fires caused by faulty lithium-ion batteries — which power e-bikes and scooters and other mobile devices— co-op and condo boards had reason to rejoice. But council member Gale Brewer, a sponsor of one of the […]
Garage Collapse Is a Wake-Up Call for Co-op and Condo Boards (NY)
The collapse of a parking garage in Downtown Manhattan on Tuesday that killed one worker and injured five other people has served as a reminder to many garage owners — including co-op and condo boards — that time is running out on the first round of mandated garage inspections. Read the article………………………..
Local Law 88’s LED Upgrade Deadline (NY)
As a co-op or condo board member, you’re no stranger to making decisions that benefit both your residents and your building’s bottom line. One such decision you’ll want to consider is upgrading your building’s lighting to LED fixtures, and you’ll want to act fast: Local Law 88 requires all buildings to make this upgrade by […]
For Co-op and Condo Boards — and Everyone Else — Electrification Is Coming (NY)
New York City’s co-op and condo boards have plenty of company as they struggle to cut their buidlings’ carbon emissions enough to satisfy the looming caps set by Local Law 97. Anyone who’s trying to tackle climate change is being told increasingly that the best path is to stop burning fossil fuels and switch to […]
Condo Board Can Deny Use of Amenities to Get Unit-Owners to Pay Up (NY)
The lawsuits have been dragging on for years at the Promenade, a 209-unit luxury tower in Lenox Hill overlooking the East River. This protracted legal brawl pits two unit-owners against the condo board over such familiar issues as arrears, alteration agreements, bylaw violations, objectionable conduct, liens and foreclosure. Read the article………………………..
What to Do If You’re Having Issues With an HOA (NY)
If you’re having issues with a homeowners’ association (HOA), carefully consider your options because litigation is a time-consuming, costly decision. First, assess the merits of your claim. Specifically, review the HOA’s bylaws, declaration, and rules and regulations to see if your claim is in direct violation of any of these. Read the article………………………..
Can you get paid for serving on your co-op or condo board? (NY)
It would be highly unusual for a board member to receive compensation for serving on a board, our experts say. Co-ops and condos are not run as for-profits and introducing any salary would skew incentives and create conflicts of interest. Read the article………………………..
Reasons for Electronic Voting in Condominiums (NY)
Electronic voting is a simple and efficient way to conduct condo association elections and make important decisions. Here are just a few reasons why your condo in NY should use electronic voting: Read the article………………………..
Board Members, and Owners, have to Watch Each Other
A condo owner who served 15 years on the board was arrested and accused of stealing millions of dollars of monthly maintenance fees and diverting them for personal use. The accused served as President for some years, and even President and Treasurer during other years. At one point, he was the only signer on the […]
Insuring Wooden-Frame Co-ops and Condos Is More Expensive Than Ever (NY)
It’s no secret that we’re in what’s known as a hard insurance market, a time when insurance carriers deal with a squeeze on their profits by raising premiums, lowering coverage limits and adding exclusions to their policies. But the boards of many co-ops, condos and homeowners associations, especially in the outer boroughs and suburbs, are […]
Co-op Boards Can Claim Fraud When a Buyer Lies (NY)
In 2014, Gene Vilensky submitted an application to purchase an apartment at Trump Village Section 4, a large cooperative in Brooklyn. Although Vilensky signed an agreement that he “would not permit persons other than those permitted by the proprietary lease to live in the apartment,” he began to list the apartment on Airbnb. Read the […]
Term Limits for Co-op and Condo Board Members
Cooperative and condominium communities are unique in their governance structures. Instead of a single homeowner being responsible for their property, a board of directors is elected to manage the affairs of the entire community. These boards are responsible for enforcing the rules and regulations of the community, managing finances, and making decisions that affect the […]
Condo Board Wrestles With Ways to Pay for $7 a Million Facade Project (NY)
We’re working with a high-rise, 300-unit condo that needs about $7 million for facade work. At the moment, interest rates are increasing, so banks would probably offer them a 10- to 15-year loan at about 4.5%, maybe 5%. So the association’s monthly mortgage installment would be about $72,500, which would then be spread among all […]
Why Condo and Co-op Boards Should Reconsider Cable Bulk Agreements (NY)
As a co-op and condo efficiency consultant, we analyze our clients’ operating expense and income line items as well as their contracts. When we hear that they are in a cable bulk agreement, we immediately review it to get the end date so that we can cancel it at the earliest possible date. Why? Because […]
Are Co-op and Condo Boards Waking Up to the Upside of Retrofits? (NY)
Is it possible that New York City co-op and condo boards, after years of resistance, are finally beginning to realize that the city’s push for clean and efficient energy is not only inevitable but also a potential source of benefits? Anecdotal evidence suggests that the answer is yes. Read the article………………………..
Green Technology Coming to Co-ops and Condos of Modest Means (NY)
Energy efficiency is no longer just for co-ops and condos with deep pockets. Green building technology startup BlocPower has raised nearly $25 million in equity funding and $130 million in debt financing to retrofit tens of thousands of apartments and other dwellings with climate-friendly appliances. This is good news to co-op and condo boards that […]
How Can Coop and Condo Boards Further Restrict Short-Term Rentals? (NY)
New York City recently adopted Local Law 18, also known as the “Short-Term Rental Registration Law,” which requires owners and/or renters (hosts) who want to rent out their residential units for less than 30 days to register with the New York City’s Mayor’s Office of Special Enforcement (OSE) before doing so. Read the article………………………..
Bill Would Require Co-op Boards to Give Reasons for Rejecting Buyers (NY)
Ideas don’t get much more evergreen than this perennial staple: a new bill before the New York City Council would strip co-op boards of one of their most cherished powers — the freedom to reject potential buyers for “any reason or no reason” — and would instead require them to spell out in writing their […]
Defamation Against Co-op and Condo Boards Is Hard to Prove (NY)
A license to vent. Disputes between co-op and condo boards and their shareholders or unit-owners have become more vitriolic than ever, thanks in no small part to the Internet. People can complain viciously and broadcast it instantly while remaining anonymous. It’s a recipe for charges of defamation. Read the article………………………..
Don’t Get Stuck in the Urgent but Not Important Quadrant (NY)
Are you tired of feeling overwhelmed by all the tasks on your plate as a co-op or condo board member? Do you wish there was a simple way to prioritize and manage your time more effectively? Look no further than the Eisenhower Box – a tried and true productivity tool that can help you get […]
Top 4 tips for the Inflation Reduction Act (NY)
As co-op and condo owners and boards focus on sustainability, along with environmental, social, and corporate governance (ESG), and avoiding fines under Local Law 97, electrification can be a smart solution. It involves replacing carbon emissions-producing heating, ventilation, and air conditioning (HVAC) systems and appliances with those that run on electricity. Read the article………………………..
Co-op Board Feeds Reserve Fund With an Annual “Capital Contribution” (NY)
Keeping the reserve fund healthy is a perennial challenge for most co-op and condo boards. Many rely on a flip tax, also known as a transfer fee, which funnels a percentage of each apartment sale into the reserve fund. It works splendidly when the real estate market is active and apartment prices are high. But […]
Problem Solved: An Elevator Modernization Takes a Nasty Twist (NY)
One of our recent jobs is a really beautiful high-end building down in Tribeca. It’s a $1.4 million job — a four-car, four-passenger elevator group modernization. They were all overhead traction elevators, 2,500-pound capacity each, which is pretty normal, especially in a building that size. It was four 34-story elevators all in line, pretty much […]
Boards have to watch their Officers – Florida Condo President arrested 3 times for hiding cameras in homes
What a way to wake up on Christmas morning. Happy holidays to all. Robert Orr, president of the Las Brisas Condominium Association in Florida was arrested for the third time for installing hidden surveillance cameras in owners homes. I can understand the first time, but three times. Here is the article. Mr. Orr ought to […]
Second Department says HOA Board Pet Restriction has to be a Declaration Amendment (NY)
The appeals court which governs over Brooklyn, Staten Island and Long Island, just issued a decision holding that the Meadowbrook Pointe Homeowners Association, Inc.’s rule that dogs greater than 25 pounds can’t be on the association premises, was unenforcible and should have been done by an amendment to the HOA’s Declaration. That would have required […]
Rash of E-Bike Fires Poses Tricky Test for Co-op and Condo Boards (NY)
Where there’s smoke… We may have just experienced the catalyst for yet another shift in New York City’s ever-evolving regulatory landscape. In early November, fire swept through a luxury high-rise apartment building on the East Side of Manhattan, injuring dozens and requiring a dramatic rope rescue of residents by firefighters. Read the article………………………..
Condo Boards have to be Careful in Giving Licenses
Condominiums that want to give exclusive use of common space to a particular unit owner, often use a license agreement to do so. Selling common space requires approval by unit owners and sometimes all of them voting in favor of a sale because all unit owners in a condominium owns a percentage of the common […]
Condos Collecting against Owners with Assets
New York condominiums have a variety of ways to collect amounts owed by unit owners. If demands and being nice do not cause owners to pay their obligations, then condo boards have tools available to cause owners to pay. Read the article………………………..
Worker’s Death at Co-op Underscores Importance of Air-Tight Insurance (NY)
On the morning of Nov. 28, a worker plunged to his death from the scaffolding outside a 22-story co-op on the Upper West Side. The tragedy serves as a grim reminder that co-op and condo boards must have iron-clad insurance provisions in their agreements with all contractors and subcontractors before any work commences. There is […]
Co-op and Condo Boards Begin Tackling Fire Risk From E-Bikes (NY)
Steven Sladkus was eating lunch outdoors at a restaurant on East 52nd Street a few weekends ago when he noticed a commotion down the block. “I saw all these people congregating in front of a highrise building and so many fire trucks it looked like a 10-alarm fire,” Sladkus recalls. “Soon I heard there was […]
Problem Solved: Owners Squabbling Over Necessary Structural Repairs (NY)
The diagnosis. In the spring of 2017 I was called by a senior building manager of a 19-story Upper West Side condominium about the electrical service room located below a pedestrian plaza. The room had extensive water infiltration, and, as a result, the electrical equipment and its cabinets had severely corroded. Read the article………………………..
Co-op and Condo Boards Urged to Act to Prevent E-Bike Fires (NY)
In the wake of the latest fire caused by the improper charging of lithium-ion batteries in e-bikes, the New York City Council is holding a hearing on Nov. 14 on five different bills that seek to address different aspects of this deadly problem. Read the article………………………..
No Certificate of Occupancy? No Problem! (NY)
…..column discussing how in many ways, shareholders in a residential cooperative corporation, who are issued a proprietary lease or occupancy agreement to permit them to reside within their apartments, are very similar to ordinary residential tenants. However, a recent case by the Appellate Division, Second Department, has reinforced one important distinction between a residential rental […]
Insurance Premium Financing Gaining Traction For Co-ops and Condos (NY)
In today’s so-called “hard” insurance market, premiums continue to rise while coverage limits continue to shrink. To add to the financial pressure, insurance bills are typically paid in one lump sum. Today, though, some boards are taking advantage of a financing tool that spreads the cost of these premiums over the course of a year. […]
Simple Steps to Avoid Co-op/Condo Board Election Mistakes (NY)
When mistakes are made in co-op and condo board elections, the whole process can be tainted and litigation can result. That’s what happened in the case of Roberts v. WVH Housing Corp. WVH, a New York City cooperative, has a seven-member board, and at the 2021 election four positions were open. Read the article………………………..
5 Reasons Why Condo Common Charges Are Going (Way) Up (NY)
Condo common charges — covering operating expenses like staff, repairs, amenities, property management and insurance — are high partly because the cost of doing business in New York City is high. But that’s only part of the story, Brick Underground reports, and even higher fees are on the way. Why? Let us count the reasons: […]
City Issues Proposed Rules on Complying With Local Law 97 (NY)
The city’s Department of Buildings (DOB) has come out with long-awaited draft regulations on how building owners, including co-op and condo boards, can cut their buildings’ carbon emissions to comply with Local Law 97 of the Climate Mobilization Act. Read the article………………………..
Can Unit-Owners in a Red-Tagged Condo Demand Concessions? (NY)
A gas leak has led Con Edison to shut down the gas in a large Midtown condominium, a situation known as red-tagging. The fix could take up to a year. Meanwhile, the condo board has provided each unit with an electric hot plate. Unit-owners ask: Aren’t we entitled to a reduction in common charges to […]
A Healthy Building Will Limit the Rising Cost of Insurance (NY)
Carriers hitting the exits. Insurance carriers have exited the New York market because of claim frequency. For example, the fatal Bronx fire in January and the condo collapse in Florida last year — these things play a role in carriers’ appetites. So some buildings are no longer insurable with the carrier they’re currently using. Read […]
Top Three Electrifying Tips (NY)
The Inflation Reduction Act (IRA) of 2022 has passed. It comes with significant rebates and tax incentives for electrifying homes and apartments. If taken advantage of at the fullest, the IRA will help NYC coop and condo owners and boards minimize their fines as part of Local Law 97. Read the article………………………..
Wage Transparency Requirements (NY)
The way co-op and condo boards advertise job openings, recruit applicants and promote employees is about to undergo a radical change. Starting on Nov. 1, 2022, all New York City employers with four or more employees, including co-op and condo boards, must include a “good faith” salary range for every job, transfer and promotion opportunity […]
How Much Liability Insurance Can Co-op and Condo Boards Require? (NY)
Most New York City co-op and condo boards typically require shareholders and unit-owners to carry $300,000 to $500,000 in liability insurance, Jeffrey Schneider, president of Gotham Brokerage, tells Brick Underground. The cost is about $25 to $50 per year and is purchased as part of a comprehensive homeowners insurance policy. Read the article………………………..
In Co-op and Condo Disputes, Mediation Beats Litigation (NY)
Going to court over a nuisance issue is time-consuming and expensive. You recently dealt with a Manhattan co-op that handled a noise dispute in a different way. Read the article………………………..
Fannie Mae Shakes Up the Co-op and Condo Lending Game (NY)
In the past, Fannie Mae bought apartment loans based on a building’s financial health,” says Jerry Niemeier, an authority in co-op lending. Then came the deadly Florida condo collapse. “Now Fannie Mae is asking lenders to essentially certify that there are no significant deferred maintenance issues or unsafe conditions in the building. And if repairs […]