Recently, one of our prominent co-op clients embarked on a massive 5-year capital-improvement project with a projected outlay of about $40 million. To get on with the project, which essentially involves rebuilding the facades, windows and doors, they had to refinance their mortgage and take
The use of steam boilers to heat our homes is not anything new. Powerful steam boilers have been in existence since the early 19th century, when they were the leading heating equipment for most buildings. So dominant were the boilers that one could leave the
Unless you live under a rock, you’ve probably heard the (often heated) debate about global warming and climate change, and how our lives will be affected. And while the federal government is still deliberating on whether or not global warming is “fake news”, the state
Owning or managing a condo, or co-op building in New York is quite harder than what most people think. This is mainly due to stringent laws imposed by various authorities. Notably, one of the new laws requires condo owners, and co-op boards to take their
All you need to replace your old roof is a new roof, right? Well, not really – roof replacement is not as straightforward as it appears. For instance, a contractor was recently hired by an affluent condo board to undertake a million-dollar roof replacement project.
On 14th June 2019, the Governor of New York, Andrew Cuomo, assented to the Housing Stability and Tenant Protection Act of 2019, which came to be known as universal rent control. While the law primarily seeks to regulate the city’s vast residential rent market, experts