Co-op and Condo Owners Get a Lifeline Against Foreclosure (NY)

Co-op shareholders and condo unit-owners are among the New York homeowners who will be eligible to apply for $539 million in federal pandemic-relief funding to catch up on their debt and stay in their homes, Gov. Kathy Hochul announced.   Read the entire article……………………………….

A Billionaires’ Row Lawsuit Could Give Manhattan Condo Buyers Pause

It comes across as a multimillion-dollar nightmare.  The myriad things allegedly wrong with the high-rise condominium tower at 432 Park Avenue, the fifth-tallest building in New York City, are spelled out in a late September lawsuit in Manhattan Supreme Court, with lawyers for its residents calling it “one of the worst examples of sponsor malfeasance […]

Report Pegs the Added Value of Private Outdoor Space (NY)

Outdoor space, whether private or communal, has always been a prized amenity in New York co-ops and condos. The coronavirus pandemic has made those spaces more valuable than ever. Now someone has figured out just how much value a private outdoor space adds to an apartment.    Read the entire article……………………………….

Fannie Mae Tightens Rules for Lenders in Wake of Condo Collapse

The fallout keeps coming from last summer’s condominium collapse in Surfside, Florida. In the latest development, Fannie Mae, the federally backed mortgage giant, has announced that it will no longer guarantee mortgages in co-ops or condominiums that have levied an assessment to pay for deferred maintenance that affects the structural integrity of the building.    Read […]

Dear Mary: How Should a Board Act When Under Attack? (NY)

Dear Mary: After we refused a shareholder’s request to install a working fireplace in his unit, he’s been waging war against our co-op board. In a constant stream of social media posts and emails to other shareholders, he criticizes everything the board does — or doesn’t do. He lies about our actions and motives, accuses […]

Shareholders Wrest Power From an Entrenched Harlem Co-op Board (NY)

One of the most common complaints in cooperatives is that the board takes control and never gives it up and that the board works for itself and not for the good of the shareholders. In the vast majority of cases, it’s not true. Typically, board members work very hard, and shareholders continue to elect the […]

Co-op and Condo Flood Insurance Premiums Could Jump by 10% or More (NY)

Created by Congress in 1968, the National Flood Insurance Program (NFIP) was doomed from the start. The premiums the program collected never kept up with the losses it covered, requiring the federal government to pump in more and more money. Climate change has made a bad system worse. If it were a private insurance carrier, […]

Condo board looks to evict buyer of heavily discounted 1MDB penthouse (NY)

The penthouse at Walker Tower — seized by federal agents five years ago in connection with an international money laundering scandal — is once again the center of controversy.  The condo board of the luxury building at 212 West 18th Street is asking a New York Supreme Court judge to eject owner Ron Vinder, a […]

Condo Board Moves to Comply With Climate Mobilization Act (NY)

If you want to see how co-op and condo boards will comply with the looming limits on building carbon emissions under the Climate Mobilization Act, take a trip to the condominium tower at 400 Central Park West.   Read the entire article……………………………….

FBI Busts $31 Million Trip-and-Fall Insurance Scam (NY)

Two doctors and two lawyers have been indicted on charges that they ran a sophisticated $31 million fraud scheme that recruited more than 400 homeless people and drug addicts to stage trip-and-fall accidents, then undergo unnecessary surgical procedures. Personal-injury lawsuits and falsified insurance claims were then filed against the owners of the targeted properties, possibly […]

Helderberg Lake Community Association seeks funding for dam repairs (NY)

The Helderberg Lake Community Association is attempting to repair the dam at Helderberg Lake, in Berne, but first it must obtain necessary funding — approximately $500,000 — which it’s attempting to do through the Berne Town Board.    Read the entire article……………………………….

Area Residents Collaborate To Stave Off Creek Erosion (NY)

In a quiet culdesac off Route 430 in the town of Ellery, a creek that sometimes turns into what seems like a wild river has been eroding sediments and quickly depositing them into Chautauqua Lake.  While a passerby wouldn’t know it, the residents on and around Sunset Bay Road are well aware — and have […]

Ask Mary: How Can Boards Get Owners to Pony Up?

Dear Mary: Our board has a hard time convincing owners to spend money. Even when we present a good case, we can’t seem to get approval. We’re missing out on fixes that could prevent future costs and on improvements that could benefit everyone. What are we doing wrong?   Read the entire article……………………………….

Ask Mary: Here Are the Answers for a Tsunami of Asks (NY)

Dear Mary: In my condo, we have a few unit-owners who are always asking for things that go against the building’s rules or policies. Sometimes the requests involve local laws or other guidelines. How can we deal with this time-consuming tsunami of “asks”?   Read the Q&A…………………………….

Westchester condo complex dumps Trump name (NY)

Donald Trump has been dumped again, this time by condo owners at a complex in White Plains.  The Trump Tower at City Center will be losing its name in the coming weeks, according to LoHud. Unit owners in the 35-story luxury tower voted to drop the affiliation with the former president and real estate mogul […]

Fast-Moving Fire at Cortlandt Condo Complex Displaces Two Dozen (NY)

A fast-moving fire at a condominium complex in Montrose Friday night left 12 units uninhabitable and displaced approximately 25 residents.  The blaze at Coachlight Square, which is located off Kings Ferry Road, broke out at about 9:45 p.m. in one of the units in an L-shaped row and traveled quickly in the attic space of […]

Governor signs bill to bolster rooftop solar panels (NY)

In what may have been one of Gov. Andrew Cuomo’s last bill signings, he earlier this month approved a measure that prohibits homeowners associations from restricting the use of rooftop solar power systems on people’s homes.   Read the entire article……………………………….

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 article……………………………….

A condo building couldn’t collapse in NYC. Or could it? (NY)

Basement leaks and cracks. Faulty mechanical and electrical systems. Porous roofs and crumbling facades.  You name it, Howard Zimmerman has probably seen it.  A specialist in diagnosing the ailments of New York City’s aging buildings, Zimmerman fields requests from condominiums and cooperatives for his take on what should be done. But often, his recommendations disappear […]

Lawsuit Seeks to Oust Atelier Condo Board Over “Illegal Hotel” (NY)

Tourists are coming back to New York City, and the luxury Atelier condominium in Hell’s Kitchen is back in the news. An 81-page complaint filed recently in state Supreme Court on behalf of disgruntled unit-owners claims the condo board has turned the Atelier into an “illegal hotel enterprise.” The lawsuit seeks removal of the board, […]

Ask Mary: How to Keep Problems Manageable, Not Monstrous (NY)

Dear Mary: Problems in my co-op seem to come in only one size: XXL. It seems that our board is always dealing with the latest crisis instead of staying ahead of the curve and working on problems before they grow from manageable to monstrous. How can we shift to attacking problems head-on instead of pretending […]

Proptech firm Lemonade says condo board left sour taste in mouth (NY)

The lawsuit alleges that Chelsea Flats was notified of a covered claim for the incident, but refused to file a claim with its own insurer. Instead, the condo board allegedly told Parson to file a claim with Lemonade, which went public with an IPO price of $29 per share in July 2020. It is trading […]

Plumbers Balking at Gas-Line Inspections Over Liability Fears (NY)

In response to deadly gas explosions in East Harlem and the East Village, the city passed Local Law 152, which requires all building owners, including co-op and condo boards, to have their gas lines in common areas inspected by a licensed master plumber every four years. Since the law went into effect last year, an […]

Waterwheel owners claim Ardsley condominium is defective in $1M lawsuit (NY)

Waterwheel Condominium in Ardsley is leaky and moldy, the homeowners association claims, and owners of the low-cost housing blame the developers.  The homeowners association is demanding $1 million from developer Ardsley Waterwheel Partners, project architect Conrad J. Roncati and real estate broker Matthew Perasso in a lawsuit filed June 17 in Westchester Supreme Court.    […]

Green Roofs Failing to Sprout on City’s Co-ops and Condos (NY)

In late 2019, city and state leaders boosted incentives for building owners who turn their rooftops green by installing gardens. Since then, according to the Department of Buildings, exactly 11 buildings have applied for the property-tax credit through April, Crain’s reports. That’s 11 applications, not approvals. Why the anemic response?   Read the entire article……………………………….

Bronx Co-op Board Outfoxes Con Edison Smart Meter (NY)

This Bronx co-op consists of two virtually identical 80-unit buildings that were erected 12 years ago and recently equipped with Con Edison smart meters. Though no one realized it when the COVID-19 pandemic hit, this co-op would provide a textbook controlled experiment for proving that the new generation of smart meters are not infallible.  Read the […]

Condo Board Moves to Comply with the Climate Mobilization Act (NY)

When the condo board at 88 Greenwich St. decided to replace rather than rehab the aging cooling units on the roof of its 38-story Art Deco tower in the Financial District, it was determined to kill three birds with one stone.    Read the entire article……………………………….

Kids saved after fire rages through Middletown condos (NY)

What was believed to have started as a domestic incident at 336 Concord Avenue in the City of Middletown Monday evening turned into an inferno that destroyed 10 condominiums.  A boyfriend allegedly assaulted his girlfriend and set the apartment on fire.    Read the entire article……………………………….

Hundreds of Co-ops and Condos Suffer Data Breach (NY)

Douglas Elliman Property Management is the most recent company in the co-op/condo management sphere to have had its data network breached. Personal information for building residents and employees, including Social Security numbers, dates of birth, mailing addresses, driver’s license numbers, passport numbers and financial information may have been stolen.   Read the entire article……………………………….

Good News and Bad News for Co-ops and Condos in the New State Budget (NY)

New York State finally has a budget on the table – a big, fat $212 billion budget. So which do you want first, the good news or the bad news? OK, here’s the bad news: for co-op and condo boards anxious about potentially stiff fines beginning in 2024 under the city’s Climate Mobilization Act, a […]

Buying in Bulk—A New Strategy for Condo Purchases (NY)

As developers struggle to offload excess condo inventory in an oversaturated market that at least partially stalled at the onset of the coronavirus pandemic, it is widely reported that investors and mezzanine lenders have swooped in with offers to buy units in bulk. While experts say that the steep discounts being proposed render most of […]

Q&A: Statute of Limitations on Condo Balcony Alteration (NY)

Q. A homeowner in a condo asks the board to allow the alteration of the balcony enclosure to a taller height. The board and management company agree and the alteration takes place. Twenty-five years later, a new manager says that was improper and the balcony must go back to original standards. Is there a statute […]

Co-ops and Condos Are Avoiding Property Tax Delinquency (NY)

Unpaid property taxes in New York City are soaring as homeowners struggle and the pandemic recession slashes the rents landlords are collecting from both commercial and residential tenants, The City reports. The property tax arrears rose to $1.3 billion in February – 4.5% of the almost $30 billion due, according to figures released by city […]