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, and the board always made decisions not to spend money extravagantly. We have a flip tax, but because the place
-than-normal-term sublet — and the directors felt they would get the co-op its money without defaulting the owner with his
of the recession, elderly homeowners who have lost money on their investments may need to borrow against the value
. The expense will be dwarfed by the time and, through better decision-making, the money you will likely save
money away." Following some research, the board sought a low-interest loan from the New York State
that will save them money and be good for the building,” says A.J. Rexhepi, an account executive at Century
,” Pichulik says. “Since co-op boards depend on the money to pay the building’s operating expenses, they want
of the co-op board and steal money from the co-op. We’re requesting that co-ops be exempt from the bill
 under a bulk purchasing deal, and that money also came out of the reserve fund. Having completed two
with no upfront money, paying them off over the life of the retrofit through liens on the building’s property

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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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