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It seems you need to have a lucky lotto number to cover your $200K so that you may avoid borrowing without assessment or a maintenance increase.
Well... what about asking for one or more shareholder(s) as source of funding? What about a second mortgage with incrase in maintenance to pay your second mortgage whether contiguous with the first mortgage or not, depneding on the type of mortgage you have.
No matter what, shareholders' pcokets will have to be affected.
No matter what, good luck!
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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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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