ARCHIVE SEARCH RESULTS

A pre-war co-op in New York City had to install individual heat pumps in each apartment due to failing gas boilers, which required a $2 million investment and coordination with multiple contractors, architects, and consultants. (Print: Energy Upgrade: Not By Juice)

MD Squared Property Group uses a robust monitoring system, prompt communication, and legal action to ensure healthy cash flow in co-ops and condos, while showing flexibility in genuine hardship cases. (Print: Arrears: Control Them With a Strategy)

Co-ops and condos are looking for practical strategies to improve energy efficiency and comply with Local Law 97, such as oil to gas conversions, decoupling heat and hot water, and smart thermostats, while being mindful of budgets and operating costs. (Print: Energy Efficiency on a Budget)

A co-op board in the West Village succeeded in banning smoking in private apartments after multiple meetings and proxy votes, citing health risks and secondhand smoke infiltration as reasons for the ban. (Print: Clearing the Air)

A co-op in Queens, NY, found itself in a predicament due to lack of transparency in its management company's finances, but a digital solution was implemented to create an online spreadsheet that lists all of the co-op's expenses and provides access to the board to view invoices and receipts. (Print: The Dangers of Being Kept In the Dark)

A condo in downtown Brooklyn was found to have irresponsible finances, prompting a 30% common charge increase and a $50,000 assessment to restore the reserves. (Print: Duped By Developers)

Boards must update their governing documents to avoid headaches and lawsuits, as outdated documents can lead to lower property values, lack of clarity on apartment alterations, and confusion over who can live in an apartment when a shareholder dies. (Print: Updating Governing Documents)

Insurance premium financing loans allow condo and co-op boards to finance the lump sum cost of insurance premiums, with interest rates in the low double digits and no risk of default for the lender. (Print: Easing the Pain of High Premiums)

The Hillcrest Park Condominium in Peekskill, NY was destroyed by a fire, forcing 25 residents to relocate and causing the association's insurance costs to increase significantly. (Print: When Disaster Strikes: A step-by-step action plan needs to be in place)

Beth Markowitz, President of Merlot Management, managed a fire in a nine-unit property, which resulted in extensive damage and a cash call to residents, but she was able to secure an advance from the insurance company and strategically modernize the elevator for long-term improvement. (Print: Fire: When Emergency Turns into Opportunity)