New York's Cooperative and Condominium Community
Could you explain how one receives their abatement directly from NYC? Are you certain it is the STAR abatement? From my understanding the STAR abatement is sent directly to the Managing Agent who then either disperse the money to the owner OR some Coops keep the abatement thus avoiding a maintenance increase. There is a similar question going on about how to obtain lost abatement in which a commenter recommended this link: https://cooperator.com/article/star-on-the-rise/full This is a very good article, explains much and includes the following: "When you live in a co-op, the money doesn’t go directly to the unit owner, but to the building itself. It’s then up to the management company or building administration to disburse the money to the proper parties.... the abatement is paid in a lump sum directly to the building"
Join the Conversation Comments (0)Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
Habitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
Learn 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
Got elected? Are you on your co-op/condo board?
Then don’t miss a beat! Stories you can use to make your building better, keep it out of trouble, save money, enhance market value, and make your board life a whole lot easier!