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affordable and beneficial to buildings.” Cancellations are rare. As for lenders, the loans are risk
no longer afford. “Once you’ve taken into account the cost of maintaining and replacing 60-year-old systems
concerned about the cost of major capital improvements and retrofits: there are numerous affordable
was fielding a barrage of questions: Can we afford it? Is the roof strong enough? Is there enough sunshine
afford high premiums. And that, of course, does come with a price and that's represented in a higher unit
will soon release the results of a three-year study on how to make water rates more affordable and more fair.
cannot afford frivolous architectural flourishes, but they agreed that appearances matter because curb
was to keep the rent affordable so we wouldn’t have to raise maintenance fees,” says Mazel. Not surprisingly
building.  “Our first reaction was that we wouldn’t be able to afford to reskin,” says Ed Adler, president
increases or assessments. “The residents here are middle-class. They could never have afforded that.” When

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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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