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CONVERSATIONS WITH CO-OP & CONDO MANAGEMENT EXECUTIVES
First-Time Condo Buyers Beware: The Real Story Behind 'Affordable' Monthly Charges
Transitioning from a developer to a condo board can bring unwelcome surprises and stark choices. That was the case at a Brooklyn condo, when new management took over and discovered owners were paying only half the amount needed to cover basic operating expenses. The artificially low monthly charges—which had attracted many first-time buyers—were temporarily masked by reserve funds that were rapidly depleting. Anes Radoncic, managing partner at VNYPM, tells the tale to Habitat’s Paula Chin, from discovering the shortfall to the board’s bold move towards financial stability.
Board Talk
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Habitat Week by Week
Co-op and condo board business broken down into bite-sized bits - 2 stories each week. Read now on all digital devices.
Ask the Experts
learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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