Home > New York
0 views 34 sec 0 Comment

New York

/ Owner - June 21, 2012

New York Condo & HOA News

  • NYC pols urge Albany to OK tax break for ‘green’ mandate that could cost co-op, condo owners $20K March 18, 2024
    New York City Council members feeling the heat from thousands of angry co-op and condo owners are urging state pols to OK tax breaks over a new “green” mandate that could cost more than $20,000 per unit.  The City Council had actually approved the mandate, the Climate Mobilization Emissions Law, in 2019 requiring residential buildings to initially curb their greenhouse gas emissions by 40% and ultimately by 80% by 2050.   Read the article…………………………….
  • Condo owners at 443 Greenwich have been suing developer for years (NY) March 11, 2024
    Bloomberg had the story this week, and I have since traced it through court records: Since 2021, the “board of managers” (is that what folks call a condo board?) of 443 Greenwich, aka the celebrity dorm between Desbrosses and Vestry, has been in court with its sponsor owners and architect over a laundry list of problems with construction, the lack of a certificate of occupancy, building code violations and misused repair funds.   Read the article…………………………….
  • Property owners group sues City of Newburgh (NY) March 6, 2024
    Hudson Valley Property Owners Association, Inc. Tuesday filed suit in Supreme Court in Orange County against the City of Newburgh and New York State Division of Housing & Community Renewal, challenging the legality of Newburgh’s imposition of rent control through the adoption of the Emergency Tenant Protection Act of 1974 (ETPA).   Read the article…………………………….
  • Lawsuit Based on Racketeering Act Seeks Ouster of Fifth Avenue Co-op Board (NY) March 4, 2024
    The Racketeer Influenced and Corrupt Organizations (RICO) Act was designed to help prosecutors go after mobsters. Recently it was used to bring charges against former president Donald Trump and his allies for their efforts to reverse the 2020 election results in Georgia. Now it’ss the basis for a lawsuit in a tony co-op on Manhattan’s Museum Mile, where two shareholders accuse the entrenched board of running a criminal “racket” in the building.    Read the article…………………………….
  • In New York, the Trump Brand Is Costing Some Condo Owners (NY) February 18, 2024
    When Donald J. Trump became president, condominiums in buildings emblazoned with his name began selling for less, according to an analysis.  In the world of real estate, Donald J. Trump’s name has long been synonymous with luxury.   Read the article…………………………….
  • Brooklyn Condo Owners Face $90,000 HVAC Repair Bill: A Tale of Legal Accountability and Community Livelihoods (NY) February 17, 2024
    A Brooklyn condo building’s faulty HVAC system leaves owners facing a $90,000 repair bill. Residents question if the building’s sponsor holds responsibility due to potential design flaws or installation errors. Legal experts advise reviewing offering plans and contracts for potential solutions.   Read the article…………………………….
  • Mayor Adams eyes NYC property tax breaks as co-ops, condos face crunch from ‘green’ mandate February 12, 2024
    Mayor Eric Adams said he’d consider property tax breaks for middle-class co-op and condo owners who have to pay for pricey building upgrades when a new “green” mandate icks in.  Hizzoner said he was open to tax abatements as anxious residents brace for the costs of Local Law 97, which covers 800,000 co-op and condo apartments.   Read the article…………………………….

New York News Archives

New York Condo & HOA Articles

  • Business Judgment Rule: How to Protect Your Board (NY)
    The recent case of Levy v. 103-25 68th Ave. Owners, Inc. offers some valuable insights for property managers and board members within cooperative housing communities.  In June 2018, the Levys commenced this action against the co-op defendants and the occupants of the neighboring apartment, alleging, inter alia, that the co-op defendants exceeded the scope of their authority, discriminated against them for having children, and acted in bad faith.       Read the article…………………………….
  • Realtors’ Settlement Will Lower the Cost of Selling a Co-op or Condo (NY)
    The National Association of Realtors (NAR), a powerful organization that has set the guidelines for home sales for decades, has agreed to settle a series of lawsuits by paying $418 million in damages and by eliminating a bedrock of the industry: the 6% sales commission.   Read the article…………………………….
  • New York Court Decision Highlights the Importance of Corporate Guidance for Board Member Protection (NY)
    A recent New York Appellate Division decision (Cortlandt Street Recovery Corp. v. Bonderman) underscores the significance of retaining experienced corporate counsel to protect both corporations and their board members from potential liability. The court rejected the plaintiff’s attempt to hold various related entities collectively liable for the actions of one, highlighting the complex challenges in navigating potential individual liability.    Read the article…………………………….
  • New York Class Action Settlement Impacts Foreclosure Proceedings: What Condo and HOA Boards and Management Need to Know
    A recent class-action settlement addressing foreclosure procedures in New York State has significant implications for condominium and homeowners’ associations (HOAs) that have owners in arrears. The law involved only applies to foreclosures of home loans, and not condo and HOA foreclosure of common charge liens and experienced counsel need to make this clear at the initial filing of the foreclosure action or risk having the action dragged into a mandatory court process where owners could be appointed legal counsel and ...
  • Mastering NYC Building Codes and FISP
    Welcome, Manhattan Coop and Condo Board Members! In the sphere of urban architecture and safety regulations, New York City sets the standard with its stringent building codes and standards. As stewards of your community’s safety and integrity, understanding these regulations, particularly the Façade Inspection Safety Program (FISP), is paramount. Let’s dive into this informative explainer tailored just for you:   Read the article…………………………….
  • Is “Mediated Resolution” a Free Pass for Local Law 97 Deadbeats? (NY)
    When it comes to New York City’s landmark climate legislation, Local Law 97, it seems that every push results in a vigorous pushback. For instance, when many building owners, including co-op and condo boards, howled that they could not possibly afford retrofits that would bring their buildings’ carbon emissions in line with the law, the city responded by offering exceptions for buildings that make “good faith” efforts to comply.    Read the article…………………………….
  • Federal Corporate Transparency Act: Alabama Case Creates Confusion, But Compliance Still Likely Required (NY)
    A recent Alabama court decision ruled the Corporate Transparency Act (CTA) unconstitutional, creating uncertainty for businesses nationwide. While the case may be appealed, here’s what boards of coops, condos, HOAs, and LLC members in New York, Connecticut and other states need to know right now.   Read the article…………………………….

New York Article Archives

 

New York Laws

Condominium Act

Cooperative Corporations

 

New York Condo & HOA Resources

Habitat – for board members and managers of condo’s and co-ops (blog below); online magazine;  podcasts

Cooperator.com is an online edition of The Cooperator newspaper. The publication serves the co-op and condo community with thousands of free articles on management, finance, maintenance and more…

Council of New York Cooperatives and Condominiums

Community Associations Institute – Hudson Valley Chapter; Long Island ChapterWestern New York Chapter

Association of Riverdale Cooperatives & Condominiums Serving the co-op community in Riverdale and throughout NewYork City for more than 35 years the Association of Riverdale Cooperatives and Condominiums, Inc. (ARC) is a domestic non-profit corporation, certified under section 402 of the Not-for-Profit Corporation Law. It was formed for the mutual advancement of the interests of its members engaged in the ownership and operation of buildings owned cooperatively or in condominium.

Comments are closed.