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their apartments in good shape are not really invested in the building's upkeep, including major capital
.  That meant the condo had to borrow only $175,000 from Capital One Bank to get the job done.   (Owners
expiration dates; a list of apartment resales over the three previous years; a list of capital improvements
in capital improvements. After all, if your building has just spent $10 million on a new roof, doesn
decide refinancing is not for your co-op, there are other ways to raise money for needed capital
important to show people how capital improvements have to be made, such as in the roof replacement
most of the lender's capital. 4) If you can't get a second mortgage, a credit line or a new
is it for boards to be hit with surprises during capital projects? They’re not unusual, and they tend to pop up
enough money on hand to tackle additional capital projects, including the retrofitting of the current
– like taxes, mortgage, and utilities – with ongoing funds, and pay for one-time capital projects

Ask the Experts

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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

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