New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide

HABITAT

HOW TO RUN YOUR BUILDING! (S1)


CONVERSATIONS WITH CO-OP & CONDO MANAGEMENT EXECUTIVES

October 6, 2023
Season 1
Transcript All Episodes

The Prevailing Wage Predicament

In the spring of 2022, New York mandated that for a co-op or condo to qualify for a property tax abatement, it had to pay its staff a prevailing wage. If a building was unionized, this didn't really have an impact. But for those buildings that had non-union employees, the impact has been significant. A.J. Rexhepi, Managing Partner at Century Management, explains the what boards need to weigh before making the wage decision.

Ask the Experts

learn more

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

Source Guide

see the guide

Looking for a vendor?