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CooperatorNews New York, The Co-op & Condo Monthly

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It’s a truism that nothing lasts forever—and that includes management contracts. Shared interest communities change management companies all the time, and for a variety of reasons. Those reasons can range from cost to effectiveness and everything in between, including clashes of personality. When changing management companies, there are a few things to keep in mind to improve yo...


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Despite their sizable influence, and the fact that their members are residents of the communities they govern, co-op and condominium boards are often misunderstood. What can they do? What can’t they do? Can they approve a request from one resident and deny that same request from another? Do shareholders and unit owners have to show board members deference, or can they unload the...


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The heart of community association governance lies in the network of interactions, responsibilities, and relationships that shape board members’ decisions—many of which can create liability risk. Because these everyday activities can lead to potential legal exposure, Directors & Officers (D&O) insurance is one of the most important protections a board can carry. D&O liability in...


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In the 1980s and early 1990s, Manhattan’s Upper West Side still had many modest prewar co-ops relative to today’s market. Sales records from the mid 1990s show classic wood-floored two-bedroom co-ops in prewar doorman buildings on the UWS selling in the mid-$300,000s to a little under $500,000—prices that seem shockingly modest now. During the 1990s through the early 2000s, NYC’...


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As with most questions regarding the functioning of co-op and condo communities, the answer to who can or can’t serve on the board usually lies in the community’s governing documents. To explain that for us today we have Richard Klein, an attorney and partner at the law firm of Dorf Nelson & Zauderer in Rye, New York.   COOPERATORNEWS: Welcome Richard, and thanks for your time a...


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