From building repairs and maintenance, energy upgrades, insurance, lobby redesigns, accounting and financing - the challenges facing co-op and condominium board directors are endless. In this series, Habitat Magazine editors interview New York City experts to learn how problems have been solved at their client co-op and condo buildings. We take a deep dive into the issues being confronted, the possibilities for solutions, the costs, the challenges, and the outcomes. Habitat Magazine, founded ...
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Co-op and condo board directors face a myriad of challenges they are not equipped to solve, and taking action can be a fraught experience. In this series, Habitat Magazine editors interview New York's leading co-op/condo attorneys for guidance on these challenges. Habitat, a New York City publication founded in 1982, is edited for co-op and condo board directors, property managers, and other professionals.
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Whether you've served on your co-op/condo board for a long time, or just started, there are a myriad of professionals you will interact with and learn from. In this series, Habitat Magazine editors interview the leading New York property management executives to find out what works, what doesn't and where board challenges lie. You'll learn valuable insider tips and resources for solving the myriad of problems that you might face while governing your building.
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Join Mark Levine from EBMG, a New York City real estate property management firm as he talks everything NYC real estate with special guests and experts in the field. Mark has been in the NYC real estate sector since 1998 and enjoys talking about some of the hottest topics and questions on everything related to real estate in New York City. Have a question or something you want to add to the show, send us an email at nycrealestatepodcast@gmail.com and we'll try and cover it.
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A Practical Blueprint: Yorkville Co-op's Decarbonization Plan
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A Yorkville co-op's successful HVAC upgrade demonstrates how boards can tackle Local Law 97 compliance while achieving significant cost savings. The $900,000 project, overseen by the EnPower Group, replaced an inefficient gas-powered absorption chiller with an electric heat pump system, eliminating $80,000 in annual carbon penalties and generating …
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Personal Liability While Serving On Your Board
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Serving on your co-op or condo board can be a terrific experience, but it can turn into a personal nightmare if you or your board acts improperly. There are many legal protections, however, and Geoffrey Mazel, partner at Hankin & Mazel, provides an overview of what they are and the precautions you need to take. Habitat’s Emily Myers conducts the in…
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Condo Crisis: $550K Facade Job Balloons to $1.2M
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A cautionary tale of facade repairs at an Upper East Side condo, where initial estimates of $550,000 ballooned to $1.2 million after engineers discovered insufficient brick ties during Local Law 11 inspections. Maxwell-Kates SVP Josh Holzer shares how the board navigated this crisis through refinancing, staff reductions, and a contractor payment pl…
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If a co-op or condo building operates at a deficit, there are only two outcomes – payables are late and cash erodes. That’s what Daniel Wollman, CEO of Gumley Haft, found when he was re-hired at a condominium his firm had managed over a decade ago. How its financial condition eroded and the steps it took to regain financial health are shared in thi…
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Rising Waters, Brooklyn Battles: Fixing Floods in the Heart of NYC
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Rainwater is becoming more intense and groundwater tables are rising throughout New York City. 10 Plaza Street East, a Brooklyn co-op, felt this full force during 2021's Hurricane Ida when its entire subcellar floor flooded, including the storage room, the laundry room and the bike room. It happened again in 2022, and the board took matters in hand…
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The Financial Consequences of a Condo's Near Collapse
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When a loft condominium faced a potential collapse, residents were forced to vacate, revealing the financial and logistical challenges of such emergencies. Carl Cesarano, the accountant for the condo and principal at Cesarano and Khan, discusses the complex process of securing emergency funding, the importance of reserve funds, and the critical rol…
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A Gas Story: How One Board Didn't Wait For The Inevitable
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One of the most reliable sources of fuel for New York’s apartment buildings is gas, but the lines that it flows through — from heating to cooking — have become a critical concern because leaks often lead to complete gas shutdowns. AJ Rexhepi, CEO of Century Management, recounts how one board at a pre-war West Side co-op looked at their fuel options…
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Meeting Your Property's Insurance Challenge
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Budgeting is always a complicated affair and increasing insurance costs have made this even more challenging. Jason Schiciano, co-president at Levitt-Fuirst Insurance & Bonding, shares how the timing of insurance renewals can help – or hinder – the challenge, and how boards can work with their brokers to stay on top of renewal timing before budgeti…
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How to Create A “Best Case” Repair Program
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Board members of newly constructed condominiums often find themselves battling a sponsor over construction defects, leading many to wonder why does this happen so often? Each building is different, but RAND Engineering & Architecture’s president, Stephen Varone, and engineer Roger Krupp point to several reasons why these defects seem to occur frequ…
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Finding Energy Saving Strategies That Make Economic Sense
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There are many strategies – and price points – that will reduce energy consumption in a building, and Stuart Halper, vice president of Impact Management, emphasizes an economically sensible approach. For many, there is a mismatch between New York City’s regulations and a building’s financial capabilities. In this interview conducted by Habitat’s Em…
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Facade Fix or Repair: One Board's Decision Journey
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What approach works best with façade issues: Band-Aid repairs or full-blown replacement? Depends on each building, and 245 West 99th St, a 34-story condominium, faced this issue when inspection of 17,000 rainscreen tiles revealed cracks that could cause tiles to fall, water leaks or other failures. Eric Vonderhyde, a principal at Bertolini Architec…
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Taking the Right Steps In A Lobby Transformation
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It was a dark, dim lobby with no package storage, a small mail room, faux fireplaces with two sad chairs on each side, and no curb appeal. A redesign was in order, and Marilyn Sygrove, president of Sygrove Associates Design Group, explains the process used to transform it from a totally non-functional dark space into one that set a positive tone fo…
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66. Talking ESCO's and Energy Procurement with Slattery Energy
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Host Mark Levine, owner of NYC Property Management firm EBMG LLC sits down in the studio with Anthony Corvino and Jim Slattery from Slattery Energy to discuss energy procurement in NYC area buildings. Email the show at nycrealestatepodcast@gmail.com! Topics covered on this episode include: What are ESCO's? Why should we consider locking in rates fo…
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There are two sides to every problem - and sometimes even more. When one crops up in a co-op or condo, someone has to step back, take a breath, maybe eat some crow, and get the issue resolved. In this episode, Josh Koppel, president of HSC Management, shares how an aggrieved shareholder was soothed and what it took to make that happen. This story h…
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How A Robotics Sleuth Came To The Rescue
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Construction defects aren’t just a new building problem, they can happen anytime a co-op or condo hires someone to take hammer and nail to something. In this episode Akaash Kancharla, CEO of aRoboticsCompany, shares how he used robotic tools to pinpoint leaks in a newly built deck at a 50-unit Astoria co-op, saving the board millions in repair cost…
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Steam Traps and Orifice Plates, Oh My!
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Sometimes the smallest parts can play an outsized role in reducing your building’s energy consumption. If you’ve got radiators, look no further than the steam trap or the oddly named orifice plate to see how these components, with a bit of diligence and care, can really deliver significant savings to your building’s energy usage. Habitat’s Carol Ot…
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Technology has made managing co-op and condo buildings more efficient and has certainly changed the property management business. But how has it impacted co-op and condo board directors, where has it created vulnerabilities and how does it come into play when a property changes management companies? Alvin Wasserman, Senior Director of Asset Managem…
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How Form And Function Guides A Lobby Re-Design
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Apartment lobbies come in all sizes and shapes, but one thing most have in common are mailboxes. Jonathan Baron of Jonathan Baron Interiors shares how he modernized this vital area for one co-op, including the addition of a package storage cabinet. New postal code requirements for mailbox size and package storage lockers framed the redesign. Habita…
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How One Board Turned A Setback Into A Success
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A bundle of projects at a downtown condominium was humming along smoothly - until they weren’t. A problem was discovered with the building’s vault which drove up expenses and suddenly costs exceeded what the board had raised for all the projects. Add in a hallway and lobby re-do, and suddenly trouble was brewing. Ira Meister, President of Matthew A…
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How To Overcome Building Staff Hiring Challenges
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Hiring building staff can be a daunting exercise, particularly if it’s a key position such as a super or resident manager. One large Manhattan co-op faced this task head on when it fired its resident manager and turned to Spark Super, a third-party staffing company, for a temporary placement. James Park, Managing Director of Spark Super, shares the…
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Why Your Building's Best Friend Should Be Wireless Technology
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Using wireless technology to monitor conditions in your building is the gold standard of catching leaks and other dangers. In this episode Jerry Kestenbaum, founder of Aware Buildings, explains how it can be successfully done at a price point that makes sense. The side benefit to these systems is its significant impact on your building’s insurance …
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How a 1910 Co-op Conquered Elevator Retrofit Challenges
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Retrofitting a building’s elevator is one challenge, but equally important are its aesthetics. Louis Lipson, a principal at Ethelind Coblin Architects, unpacks the story of a 1910 co-op that was upgrading its elevators to meet current building codes, but had historical elevator doors that were integral to their ambience. In this interview, conducte…
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Why Your Board's Governing Documents Deserve a Fresh Look
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Sitting on the back burner of all the issues your board must think about are its governing documents. Often written in legalize, sometimes difficult to change and probably outdated, they may be out of sync with the needs and best practices of today. But it’s unwise to leave them to age quietly, says Neil Davidowitz, President of Orsid New York, and…
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How An Action Plan Helped A Condo Overcome Insurance Challenges
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A relatively new 41-unit condo on the lower east side of Manhattan was plagued by leaking PTAC units in owner apartments, and it filed $500,000 dollars in insurance claims over four years. That helped pay for the fix, but over the years their annual insurance premiums doubled from $35,000 to $70,000, with the prospect of a renewal costing over $100…
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Terracotta Troubles: How a Fifth Avenue Co-op Faced the Challenges of Facade Repair
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Many apartment buildings with terracotta details are beautiful to look at, but with beauty comes expense if the material needs repair. Dane Barnes P.E, partner at Joseph K. Blum, was hired to do a façade inspection at a prominent Fifth Avenue co-op and found multiple cracks on the terracotta cornice. Small cracks often signify dangerous conditions …
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Turning A Gas Nightmare Into A Triumph
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In the annals of gas inspections, this 45-unit co-op faced a unique one. The board learned from their plumber that the individual boilers and water heaters in each apartment were no longer code compliant. This meant the building wouldn’t be able to pass a gas inspection, and if there was a gas shutdown for any reason, it couldn’t be turned back on.…
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Laundry Rooms: Tech, Compliance and Contracts
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Some people own multi-million-dollar apartments, others on a more modest scale, but doing laundry in a communal laundry room is one activity that levels the playing field. That makes the choice of a laundry room vendor crucial to providing a space that meets the needs of the community while at the same time a much-needed revenue source. In this epi…
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From Steam to Green: How A Beekman Hill Co-op Made the Leap
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Around 1500 buildings in New York City use Con Ed steam for heating and cooling, and many are considering moving to electricity to reduce their carbon emissions. If your building has a distribution system that uses the same pipes for heating and cooling, like the Beekman Hill co-op discussed in this episode, there are steps to take and timing issue…
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How A Small Condo Tackled A Shared Expense Problem
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It's not uncommon for condos with commercial space to find the owner of that space isn't contributing adequately to the shared expenses of the building. The board then finds itself doing assessments for residential owners while the commercial owner's monthly payments stay flat. The question is, how to get out of this situation without discord or a …
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Energy Dashboard: Why You Have to See It Before You Can Control It
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Apartment buildings that are heated and cooled by centralized systems are prime candidates for technology that can monitor and adjust all the controls needed to power the systems. In this episode, Habitat’s Emily Myers talks with Robert Post, senior sales engineer at Parity, to learn how a Harlem co-op embraced this technology to lower their energy…
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Resident Insurance Compliance: What You Need to Know
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Managing risk in co-op and condo buildings is more crucial than ever as insurance rates soar. Many boards are now requiring residents to have their own apartment insurance, but enforcing this is no small feat. In this episode, Habitat’s Carol Ott talks with Kara Ryan, Director of Compliance at Mackoul Risk Solutions Insurance, to uncover the challe…
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A Tale of Two Systems: How a Manhattan Condo Reimagined Heating/Cooling Comfort
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In the heart of Manhattan, a towering condominium grappled with a recurring nightmare: leaky Con Ed steam pipes wreaking havoc on its residents' homes. Each incident left a trail of destruction, prompting the board to confront a crucial decision: persist with costly repairs or embark on a bold transformation. Faced with a repair bill soaring betwee…
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Why The Smallest Apartment Renovation Might Need A Proper Work Permit
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When apartment owners in a NYC co-op or condo want to renovate their units, most will sign an alteration agreement and then their plans are sent to the building's architect for review. Difficulties ensue when the reviewing architect says the work needs a permit from the city, and the apartment owner insists it doesn't. Kevin Bone, co-founder of Bon…
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Daytime Noise Becomes New Distraction In NYC Apartments
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In New York City noise is a common problem. Sleep issues used to be the biggest complaint, but as the world has shifted to remote work, day-time noise has become a new distraction in apartment buildings. Developers of new condos in commercial areas are facing day-time noise issues and it's impacting the sale of their units. Michael Lentin, Founder …
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65. Covering Local Law 97 with Joe Chavez from NYC Accelerator
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Host Mark Levine, owner of NYC Property Management firm EBMG sits down in the virtual studio with Joe Chavez, the Deputy Director for Resilient and Efficient Buildings, part of the NYC Accelerator Program. Email the show! nycrealestatepodcast@gmail.com Topics covered on today's episode include: What is 97? How is the city supporting building owners…
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64. Mark's Interview with Habitat Magazine: The Key to Running a Great Virtual Annual Meeting
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Host Mark Levine, of NYC property management firm EBMG takes part in Habitat Magazine's quick podcast covering the Keys to Running a Great Virtual Annual Meeting. Email the show! nycrealestatepodcast@gmail.comIf you'd like to reach out to Mark Levine directly at his corporate email, please email mblevine@ebmg.com or via phone at 212-335-2723 x.201.…
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63. Bronx Building Collapse and The Retainage Reduction Act
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Host Mark Levine of NYC Property Management firm EBMG dives real-time into the building collapse on December 11, 2023 at 1915 Billingsley Terrace in the Bronx. The horrific collapse occurred roughly 4 hours prior to taping. Mark walks listeners through what may have lead to the collapse and the various filings that were made over the course of the …
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With the cost of building projects getting more expensive each year co-op and condo boards need to anticipate owner concern. Here, Peter von Simson, CEO of New Bedford Management, suggests it's well worth the time for board directors to discuss current and future projects - and the potential finances involved in tackling them - with apartment owner…
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It's all about preparation, not only for the topics covered, but most importantly for vote taking. Mark Levine, Principal of EBMG, walks through the prep steps and vote tally process of running a virtual annual meeting. How To Run Your Building: For Co-ops and Condosبقلم The Habitat Group
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Creating a budget that merges capital planning with operations is no small feat. Andre Kaplan, CFO of Orsid New York, explains how balancing the three mains parts of a co-op/condo budget will help your board maintain value and meet the city's regulatory requirements. How To Run Your Building: For Co-ops and Condos…
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The unexpected does occur, and when it does your co-op or condo better be prepared. Andy Marks, Senior Vice-President, Maxwell-Kates went through trial by fire on the first building he ever managed. He shares his experience here, the lessons he learned, and the steps he took to secure everyone's safety. How To Run Your Building: For Co-ops and Cond…
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The compliance landscape has changed today, and many projects which used to be just a capital improvement now have to be viewed through a compliance lense. The question is, which budget bucket do you place it in , which projects can fill more than one bucket, which are the most impactful ones to do early and in what order should you do them? Chris …
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Lead is a substance no one wants to find in his or her apartment, or the common area of building either. But it exists, and there are laws regulating who has to find it, who has to get rid of it, who's legally responsible, and who has to file lead notices with the city. The law specifically targets rental apartments, and this includes co-op or cond…
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62. Building Your 2024 Budget With BrickUnderground.com and Super
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Host Mark Levine of NYC Property Management company EBMG sits in as the guest speaker for an hour-long webinar on building your budget for 2024. This webinar was hosted by www.brickunderground.com and www.hiresuper.com. Email the show! nycrealestatepodcast@gmail.com Topics covered on this webinar include fixed and variable expenses, Prevailing Wage…
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When a condo is making the transition from sponsor to board control serious structural issues are often uncovered. That's when management, says Drew Posner, Senior Vice President and Director of Client Services at Maxwell-Kates, turns to the bylaws and, most important, the Schedule B. How To Run Your Building: For Co-ops and Condos…
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Given today's rising interest rates, it may be tempting for boards whose mortgage is coming due to put off refinancing until the last minute. But whether interest rates are up or down, procrastination is never a good idea. Dawn Dickstein, President of MD Squared Property Group, shares a story of one co-op who learned this lesson the hard way. How T…
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Co-op and condo boards have to be focused on the value of apartments in their buildings and adopt policies that support this. But these policies need to reviewed regularly because sometimes what worked one year doesn't work the next. Neil Davidowitz, President of Orsid New York, speaks about three common building policies that often need a re-think…
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Meeting the goals of New York's Carbon Mobilization Act can be a tall order for many buildings. In this episode, Fred Rudd, President of Rudd Realty, shares how one of his clients, the St. James Condominium, avoided a fine of $140,000 by investing $1.7 million dollars in energy and carbon reduction projects. How To Run Your Building: For Co-ops and…
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What action should co-op & condo boards take in light of today's hard insurance market? Anes Radoncic, Managing Partner of Venture NY Property Management offers some practical advice. How To Run Your Building: For Co-ops and Condosبقلم The Habitat Group
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Property taxes are a perennial thorn in the side of a building's budget. But they have to be budgeted for, and in many cases, protested. The process is fairly simple, but there are steps every building should follow to figure out the upcoming budget figure and the plan to protest the tax. In this episode, Armin Radonic, Principal at Venture NY Prop…
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