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The NYC Bar Association has updated the co-op apartment sales contract to address various issues and provide more clarity for buyers, sellers, and boards. It includes provisions for seller disclosures, buyer requirements, and facilitates the closing process, benefiting all parties involved.

The board of a small Brooklyn co-op secured a Multifamily Express Green Loan to fund energy-efficient upgrades, such as replacing the gas boiler with all-electric heat pumps. The project was covered by increased maintenance fees and reserve fund utilization.

A Yellowstone injunction can halt eviction proceedings, prompting a dialogue between commercial tenants and boards, leading to resolutions and cooperation.

Commercial leasing issues are affecting co-op and condo budgets. Options include using reserve funds, temporary assessments, and potential maintenance increases.

Hoarders can be of any age. When hoarding is suspected, gather documentation, seek court orders, and appoint a guardian for prompt action.

Shareholders seeking stock transfers in co-ops must follow a board-approved procedure, including legal transactions, judgments, and lender approvals to ensure equal treatment.

New board members must understand their fiduciary duty, legal responsibilities, and consequences of breaching trust when serving their community.

The board of a small Brooklyn co-op obtained a Multifamily Express Green Loan from the New York City Energy Efficiency Corp to finance energy-efficient upgrades, including the installation of all-electric heat pumps and decommissioning the gas boiler. The co-op board increased maintenance and dipped into its reserve fund to cover the $150,350 project.

When amending bylaws, avoid making extensive changes, choose the right timing, consult your attorney, gather input from shareholders or unit-owners.

Residents seeking emotional support animals must establish a disability and provide medical documentation. Co-op/condo rules still apply, and resolutions are preferred over eviction.

New Local Law 97 rules aim to address carbon-emission fines for buildings. "Good Faith Efforts" are detailed for the 10% facing fines in 2024. For the 75% expected to face fines in 2030, there's a carbon-emission credit for electrification measures.

Boards need to adhere to spending limits outlined in bylaws, but emergency repairs may allow some leeway under the business judgment rule. Proactive bylaw updates are wise to reflect current costs.

When dealing with a neighboring construction project, request architectural and engineering plans. Have your professionals assess the impact and secure payment for fees and an escrow account for costs.

Key considerations for co-op bylaw updates include allowing electronic annual meetings, implementing staggered board terms for continuity, and ensuring adequate indemnification for board members.

Mandatory facade work every five years often leads to costly access agreements with neighboring buildings. Legal procedures can be slow and unhelpful. Better communication and sharing specific information can expedite the process.