ALL of a coop’s or condo’s policies and procedures should be reviewed every few years. This is to see if they are up to date, or if they have fallen out of compliance either with New York City building regulations or the owner’s wishes and best interests. Here are our tips on what to consider […]
The Rules Keep Changing for Co-op and Condo Boards (NY)
For co-op and condo boards, the rules keep changing in the middle of the game. In just this past year, the state Legislature and New York City Council passed major legislation affecting everything from tenant protections to shareholder meetings, reverse mortgages, housing discrimination, prevailing wages for staff, climate change, city construction codes, energy efficiency, interim […]
HSTPA Amendment is Good for Co-ops (but, is it good for ALL co-ops?) (NY)
On December 22, 2021, Governor Hochul signed into law (Real Property (RPP) CHAPTER 50, ARTICLE 7) an amendment which exempts coopera-tives from many of the onerous provisions of the Housing Stability and Ten-ant Protection Act (HSTPA) of 2019. Under the HSTPA, late fees imposed by landlords, including co-ops, were limited to $50 or 5% of […]
Condo Board Imposes Rules and Fines on Dog Owners. Is That Legal? (NY)
A condo board on the Upper West Side announced that it will fine residents — unit-owners and rent-stabilized tenants alike — if they fail to follow a new rule requiring dog owners to use the service elevator, carry their dogs while in the elevator, and enter and exit the building through the service entrance. Are […]
Problem Solved: Finding the Best Use for a Condo’s Roof (NY)
Boards that are considering installing solar panels often find that the return on investment isn’t quite what they were hoping for. But there is a program that can make going solar worth it. Can you tell us about it? Read the entire article……………………………….
Problem Solved: Cutting Carbon Emissions to Avoid Fines (NY)
Figuring out an upgrade path to meet the requirements of the Climate Mobilization Act, or Local Law 97, can be daunting for any co-op or condo board. But a green committee in one co-op is tackling this now. First, what kinds of improvements has this co-op made in the past? Read the entire article……………………………….
Carbon Trading + Clean Electric Grid = Good News for Co-ops and Condos (NY)
As co-op and condo boards begin to compute the costs of reducing their buildings’ carbon output enough to satisfy the Climate Mobilization Act (Local Law 97), they have received a major dose of good news. A sweeping new study suggests that the greening of the electricity grid – by powering it with renewable energy sources […]
Co-ops, Condos and Landlords Fight Ban on Criminal Background Checks (NY)
It’s criminal, as far as many landlords and co-op and condo advocates are concerned. In the waning days of Mayor Bill de Blasio’s tenure, the City Council is set to vote on a bill, Intro. 2047, that would ban landlords and co-op and condo boards from doing criminal background checks on potential tenants or apartment […]
Will There Be Enough Green Electricity for Co-ops and Condos? (NY)
Co-op and condo boards scrambling to find ways to reduce their buildings’ carbon emissions enough to comply with the city’s looming Climate Mobilization Act keep hearing the new real estate mantra: electrification, electrification, electrification. By switching from fossil-fuels to electricity from renewable sources to power their building systems, the thinking goes, boards can take a […]
Top Tips to Offset Inflation in your Coop or Condo (NY)
Inflation is not just the increased price of milk or a gallon of gas, it is something that affects virtually every aspect of our (economic) lives. This obviously also relates to coop and condominium living. Read the entire article……………………………….
Co-op Board Removes Menorah. Is it Discriminating? (NY)
Thanksgiving is almost here, which means it’s time for the feuding over Christmas and Hanukkah to begin. Right on cue, a story is unfolding at a luxury Midtown East co-op. For years the board displayed both a large Christmas tree and a menorah in the lobby during the holidays. Last year, after a new board […]
Why Does My Building Have Outstanding Violations? (NY)
So, you live in a New York City apartment building and you have a problem in your apartment (or building), what do you do? Of course, it may depend on whether you live in a rental building, a cooperative or condominium, or live in a sponsor unit. In some cases and depending on the issue […]
The Easy Way to Cut Carbon Emissions? A Green Electric Grid (NY)
Many co-op and condo boards are terrified by the potential cost of the city’s Climate Mobilization Act (Local Law 97), which sets caps on building carbon emissions beginning in 2024 – and will impose stiff fines on buildings that fail to comply. Now comes news that’s sure to draw a sigh of relief from anxious […]
Climate Change Time: It’s Five Minutes Till Midnight (NY)
I attended a year-end meeting with the president of a Manhattan cooperative and an outside engineer. In October, the engineer had informed the cooperative that under the Climate Mobilization Act, the building was likely facing massive annual fines beginning in 2030 if it did not undertake major energy-efficiency retrofits to reduce the building’s carbon emissions. […]
Compromise Required When Disabilities Clash With City Codes (NY)
Co-op and condo boards are constantly required to perform balancing acts. For instance, a resident with a disability might ask for a reasonable accommodation, yet granting that accommodation would require breaching city fire and building codes. Read the entire article……………………………….
Top 5 Coop & Condo Laundry List Items (NY)
In apartment buildings, including coops and condos, the leasing income that we see most frequently is for leasing out the laundry room. A majority of the services in a multifamily building are owned by the housing corporation, but the laundry room is typically handled by a third-party laundry company that renews every few years. Read […]
Robots to the Rescue for Costly Co-op and Condo Facade Inspections (NY)
Co-op and condo boards are accustomed to getting bad news – and big bills – in their never-ending quest to comply with the city’s stringent Facade Inspection and Safety Program, formerly known as Local Law 11. Today, we have some good news. Read the entire article……………………………….
Problem Solved: Avoiding Common Pitfalls on Capital Projects (NY)
I think that the most common mistake when a board undertakes a capital project is not thinking through exactly how much that project is going to cost. A board will say to us, “What’s your price for specs?” Or, “What’s your price for drawings?” And there’s no discussion of what the project will actually cost. […]
How to Build Community in Your Condo or Co-op
When building up the community in a coop or condo, there are some common and very effective tools that a co-op board or condo board can use. But first, let’s talk about building a community in general. Like all other aspects of my life, I spend a lot of time building relationships and my community. […]
The Hot New Amenity for Co-ops and Condos? Green Space (NY)
Smart co-op and condo boards are always looking to add amenities that will make their buildings more livable – and make the apartments more valuable. Instead of weighing conventional options, such as a gym, community room or bike storage, those boards might want to consider adding or expanding an amenity whose value has been heightened […]
A Co-op’s Solar Journey, From Bright Idea to Flipping the Switch (NY)
A few months after moving into the nine-story, prewar co-op at 250 Cabrini Blvd. in Hudson Heights, I threw my hat in the ring to join the board of directors. My stump speech was: “We all love the rooftop view of the Hudson River, but the east side of the roof is unused. Let’s do […]
Co-op Board Learns That a Cheap Contractor Can Get Expensive (NY)
You’ve been overseeing facade work at a 17-story co-op where the board chose a low-bid contractor that you had concerns about. When did you become concerned, and why? Read the entire article……………………………….
Ask Mary: The Board-Manager Tie Is About More Than Chemistry (NY)
In the last eight years, our condo has been through three managing agents at two different property management companies. Things always start off OK, but at some point the relationship goes sour, and we part ways. We’re losing momentum and getting frustrated. What are some tips for creating and keeping a healthy partnership with our […]
Problem Solved: Handling the Hard Insurance Market (NY)
Many co-op and condo boards aren’t aware that the insurance market goes in cycles and that it fluctuates between hard and soft. Can you explain the difference? And where are we now? Read the entire article……………………………….
Shrinking Federal Subsidies Could Cause Flood Insurance Costs to Soar
Many of the people who own homes, including co-ops and condominiums, near New York City’s 500 miles of waterfront or in flood-prone inland areas just got some unwelcome news. Starting Oct. 1, federal subsidies for flood insurance will begin to disappear in a nationwide experiment to force Americans to pay something closer to the real […]
Due Diligence Can’t Predict All Problems in Co-op and Condo Buildings (NY)
The deadly collapse of the Champlain Towers South condominium in Florida earlier this summer sent shivers all the way to New York City. It rattled co-op and condo boards, potential apartment buyers and the people responsible for ensuring the physical integrity of buildings. It also generated questions. Here’s a big one: How can a prospective […]
Problem Solved: Condo Board Got the Jump on a Complex Project (NY)
Facade work can be complicated in one building with one board, but when many entities are involved, things can get really messy. You’re in the middle of one such project, correct? Read the entire article……………………………….
Court Says Frivolous Lawsuits Qualify as “Objectionable Conduct” (NY)
Most proprietary leases in housing cooperatives state that a tenant-shareholder’s lease can be terminated for “objectionable conduct.” Some proprietary leases bestow this authority to terminate the lease on the board of directors, while others give it to the shareholders. “Objectionable conduct” can typically include persistently making excessive noise, creating unsanitary conditions inside an apartment, or […]
It’s Not Easy to Prove That a Co-op Board Discriminated (NY)
A couple recently submitted an application to buy into a co-op in Dumbo, Brooklyn. Despite solid financials and a sterling board package, the co-op board rejected the application. The couple’s broker speculated that the reason was the couple’s dogs, even though the building is said to be pet friendly. Read the entire article……………………………….
Condo Boards Can Get Burned by Inadequate Bylaws (NY)
Purchasing an apartment in a small condominium presents unique problems. Perhaps the most common is the issue of self-management. Often, unit-owners believe that independent management is unnecessary – or too expensive considering the size of the building. But that leads to one of two scenarios: either every unit-owner has to play a large role in […]
Problem Solved: Protection Against Scaffold Law Insurance Claims (NY)
What’s the first thing a co-op or condo board should do when it gets ready to tackle a major capital project? The most important thing they should do is to contact their insurance broker. That’s one of the biggest things that we as an agency press for our clients – always to be in contact […]
What “Transparency” Really Means in Co-ops and Condos
I spend many evenings every year attending annual co-op and condo meetings, and during the election phase of those meetings, I usually hear demands for better communication from the boards to their shareholders and unit-owners. Read the entire article……………………………….
Co-op Board Is Rescued by the Trusty Business Judgment Rule (NY)
A common question facing cooperative and condominium boards is: repair or replace? Whether it’s a roof, a boiler or a facade, boards are often faced with this dilemma. One board’s decision on such a matter became the basis of recent litigation when a disgruntled shareholder in a New York City cooperative decided to take his […]
Problem Solved: How to Prevent Phishing and Cyber-Theft (NY)
All our digital devices make us ripe for fraud or a hack, whether it’s out-and-out theft or someone stealing personal information from our servers. From a banker’s perspective, what are the various ways that digital fraud happens? Read the entire article……………………………….
Video Doorbells Pitting Security Against the Right to Privacy (NY)
A family in a pricey Upper West Side co-op was distraught. The neighbor directly across the small foyer had installed a video doorbell that recorded video and audio every time someone entered the foyer. Worse, the camera was trained at the distraught family’s door, meaning the comings and goings of guests were recorded, as were […]
Loss Assessment Coverage Can Protect Co-op and Condo Residents (NY)
Last week we reported on a sticky situation in Brooklyn. After a devastating fire in 2019, more than three-quarters of the 54 unit-owners in a Sunset Park condominium voted not to restore the building, which cleared the way for all unit-owners to split the proceeds of a building sale and any payouts from the condo’s […]
How to respond to an HOA violation letter
Violation letters are about as pleasing as a December credit card bill. Regardless of whether an owner was expecting a violation letter or not, it tends to strike a nerve. These letters are sent to owners who have allegedly broken an association rule, but it’s important to remember that violation letters aren’t meant to punish […]
After Devastating Fire, Condo Board Is Sued Over Insurance Coverage (NY)
Many co-op and condo boards are becoming aware of the need for air-tight liability insurance to protect them from the blizzard of personal-injury lawsuits generated by the state’s Scaffold Law. But a case now wending its way through the courts illustrates the equal importance of adequate insurance coverage for the building itself. Read the entire […]
Hamilton Heights Co-op Board Is Having a Case of Deja Vu (NY)
For some unlucky co-op boards, problems come in pairs. For the 54-unit, affordable HDFC co-op at 94-102 Hamilton Pl. in Hamilton Heights, the pair of problems looks like a case of deja vu all over again. It started back in 2016, when the outer layer of bricks on one of the co-op’s two l900-vintage buildings […]
Problem Solved: Making Sure Your Insurance is Air-Tight (NY)
When co-op and condo boards tackle major capital projects, making sure that their insurance coverage is in order is critical – thanks in large part to New York State’s one-of-a-kind Scaffold Law. What are the top things boards absolutely must have in order before they start a major capital project? Read the entire article……………………………….
Ripping off the Band-Aid: Getting Real about Repairs (NY)
Don’t settle for surface-level solutions. No one likes to get hit with a huge cost that puts a dent in your co-op or condo board’s budget. A large repair or construction project could dip into the board’s reserves or even impose a special assessment. It’s understandable, then, when board members hesitate to make such big […]
For Co-op and Condo Buyers, Due Diligence Matters More Than Ever (NY)
The deadly collapse of the Champlain Towers South condominium in Florida has put a spotlight on the need for due diligence by co-op and condo buyers. For one thing, experts agree, the collapse did away with the notion that buyers should rely on their professionals to ascertain the fiscal and physical health of a property. […]
Problem Solved: Noise From the Upstairs Neighbor (NY)
Perhaps the No. 1 complaint in co-op and condo living is noise. Complaints between neighbors are often difficult to resolve – a problem you recently dealt with at a pre-war co-op on Park Avenue. Read the entire article……………………………….
Co-op and Condo Boards Getting Sticker Shock From Facade Repair Costs (NY)
As of 2021, some 14,000 buildings in New York City must have their facades inspected to make sure they comply with Local Law 11. With COVID, of course, the landscape has changed. Yes, and there are two sides to that — the engineering side and the contractor side. The engineering fees have gone up dramatically […]
The Climate Mobilization Act’s Surprising Paradox (NY)
Co-op and condo boards are facing a harrowing challenge. Under Local Law 97, the centerpiece of the city’s ambitious Climate Mobilization Act (CMA), all covered buildings larger than 25,000 square feet will be given a yearly carbon emissions budget, or cap. Beginning in 2024, significant fines will be levied against buildings that emit more carbon […]
Co-op Board Overreaches on Window Air-Conditioner Rule (NY)
A co-op board has instituted a new air-conditioner rule: Once a window unit is installed, shareholders are not allowed to remove it at the end of the season. Shareholders who don’t comply will face penalties. When asked to explain the policy, the board president said, “It’s a New York City law, and if we get […]
Justice: Co-ops No Longer Subject to Constraints of Tenant Protection Act (NY)
The co-op community scored a significant victory on Thursday when the state Legislature passed two bills that effectively carve co-ops out of the Housing Stability and Tenant Protection Act. The intention of the act, which was signed into law by Gov. Andrew M. Cuomo in 2019, was to provide protections to the millions of tenants […]
How Condo Boards Can Make Sure the Sponsor Pays His Share (NY)
At newly built condos, it’s common for construction problems to crop up. But accounting and record-keeping are equally important, as one of your clients recently discovered. What’s the story? Read the entire article……………………………….
Enclosed Balconies May Not Be Forever (NY)
Many co-op shareholders and condo unit-owners enclose their balconies. After all, who doesn’t want extra living space? However, the case of Village Mall at Hillcrest Condominium v. Banerjee asks a more ticklish question: Was consent to enclose the balcony in a condominium properly obtained – and was it then properly revoked by the board? Read […]
Welcome to the Board! How to Get New Board Members Up-to-Speed
Congratulations! You have just welcomed a new member to your co-op or condo board. Hopefully their skills, ideas, and experiences can add a fresh perspective to meetings and contribute to the board in exciting new ways. As many co-op and condo residents know, serving on the board can be a big time commitment and feel […]