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to $5 million at 3.8 percent, using the additional money to pay off the debt and fund capital
were best for the building.”  Meanwhile, the board also embarked on ambitious capital projects
for capital projects.  These days, many boards are going a step further by hiring a forensic architectural
at Meridian Capital Group, a commercial real estate finance company. He commonly presents boards trying
came in on time. There was a lot of on-the-job training on massive capital jobs. I wore many hats
-year capital project to repair the facade and – far more interesting – replicate or repair the terra
a long list of capital projects and to pay off its existing mortgage of $2.2 million. “The reality
to rise. Co-ops with commercial spaces rely on the revenue they produce to help fund capital improvements
capital improvements. The co-op was turned down by more than a dozen banks before the National
.  “That has more than covered all our capital projects, like the boilers and elevators,” says board

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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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