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-pointing. “As a self-managed building, it all comes down to money,” he says.  Discontent grew as cash dwindled
for the lease and not leaving money on the table.”   Polsinelli cautions boards against signing long
would come to about $400,000, money that was on hand thanks to flip taxes and a refinancing
towers would’ve been a waste of money,” says Lindenbaum. Repairing them and postponing the purchase
mortgage and set money aside for the windows so we don’t have to raise maintenance or do an assessment
, and the shareholders realized we were spending money to shore up the structure.” It didn’t hurt that the town hall
? Access can be a big part of your cost.” Other lessons: Budgets: “Budget more money than you need – from
a certain period, that money would be released back to the co-op.” Still, the co-op has to come up
buildings more comfortable while saving money,” Yaker says. “Complying with this law is going
Companies that manage co-ops and condos are constantly moving money into and out of numerous bank

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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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