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With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes

With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes

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With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes
With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes
With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes
With The Golden Age Of New York City Co-Ops In Peril, Co-Op Boards Should Consider Changes
forbes forbes | 2 years ago
As physical problems have arisen in co-ops, the co-op Boards have stubbornly refused to adjust to the times. Without making concessions to these changing tastes and demographics, the market value of co-ops will continue to suffer.
As physical problems have arisen in co-ops, the co-op Boards have stubbornly refused to adjust to the times. Without making concessions to these changing tastes and demographics, the market value of co-ops will continue to suffer.
What is a co-op in New York City?
What is a co-op in New York City?
What is a co-op in New York City?
What is a co-op in New York City?
Realiff Academy Realiff Academy | 1 year ago
Many people, particularly those who live outside of New York City, have only a hazy understanding of what a co-op building is. Sure, they know it's an apartment, but the specifics are frequently hazy at best. Realiffhas everything you need to know before purchasing a co-op in NYC! So please browse our website in order to find out more!   Co-op is an abbreviation for "cooperative." When you purchase a co-op apartment, you are purchasing stock in the corporation that owns the building. That may ...
Many people, particularly those who live outside of New York City, have only a hazy understanding of what a co-op building is. Sure, they know it's an apartment, but the specifics are frequently hazy at best. Realiffhas everything you need to know before purchasing a co-op in NYC! So please browse our website in order to find out more!   Co-op is an abbreviation for "cooperative." When you purchase a co-op apartment, you are purchasing stock in the corporation that owns the building. That may ...
Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets
Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets
Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets
Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets
propertyshark propertyshark | 1 year ago
What is cryptocurrency and what are the advantages and disadvantages of buying a New York City luxury co-op or condo with cryptocurrency? The post Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets appeared first on PropertyShark Real Estate Blog.
What is cryptocurrency and what are the advantages and disadvantages of buying a New York City luxury co-op or condo with cryptocurrency? The post Cryptocurrency & Its Effect on New York City’s Co-op & Condominium Markets appeared first on PropertyShark Real Estate Blog.
Is it worthwhile to buy a co-op in New York City?
Is it worthwhile to buy a co-op in New York City?
Is it worthwhile to buy a co-op in New York City?
Is it worthwhile to buy a co-op in New York City?
Realiff Academy Realiff Academy | 1 year ago
The majority of New Yorkers despise co-ops. Simply searching for "co-op horror stories" will yield a plethora of entertaining stories. However, it is important to note that each co-op has its own set of rules. There are co-ops that are extremely relaxed and others that weigh in on everything. While there are general guidelines, make sure to get specifics for any building you're thinking about buying.   The disadvantages of purchasing a co-op   Let's look at some of the obvious and well-known...
The majority of New Yorkers despise co-ops. Simply searching for "co-op horror stories" will yield a plethora of entertaining stories. However, it is important to note that each co-op has its own set of rules. There are co-ops that are extremely relaxed and others that weigh in on everything. While there are general guidelines, make sure to get specifics for any building you're thinking about buying.   The disadvantages of purchasing a co-op   Let's look at some of the obvious and well-known...
The Art of Buying Unsold Co-Ops and Condo Packages – Myles Horn
The Art of Buying Unsold Co-Ops and Condo Packages – Myles Horn
The Art of Buying Unsold Co-Ops and Condo Packages – Myles Horn
The Art of Buying Unsold Co-Ops and Condo Packages – Myles Horn
BehindTheBricks BehindTheBricks | 5 years ago
Finding success in the NYC real estate business requires being creative with where and how to add value.  One market that requires this skill is the bulk purchase of unsold units in condominiums and co-ops.  In essence, it’s about buying wholesale and selling retail, but it gets much more complicated from there... Today we sit down with Myles J. Horn, who has spent the last 35 years specializing in this part of the business.  Myles has likely purchased more blocks of unsold condominiums a...
Finding success in the NYC real estate business requires being creative with where and how to add value.  One market that requires this skill is the bulk purchase of unsold units in condominiums and co-ops.  In essence, it’s about buying wholesale and selling retail, but it gets much more complicated from there... Today we sit down with Myles J. Horn, who has spent the last 35 years specializing in this part of the business.  Myles has likely purchased more blocks of unsold condominiums a...
Reverse Mortgages For Co-ops
Reverse Mortgages For Co-ops
Reverse Mortgages For Co-ops
Reverse Mortgages For Co-ops
Foreclosure Defense Foreclosure Defense | 5 months ago
On May 20, 2022 a new law went into effect in New York State which allows owners of co-ops to apply for reverse mortgages. Up until the time this statute went into effect, seniors who wanted to obtain a reverse mortgage on their co-op apartments, were unable to do so. The reason for this is that co-ops are not real property under the law in New York State. The owners of a co-op have a personal property interest in the shares of the cooperative apartment corporation. Co-Op Mortgages and How They ...
On May 20, 2022 a new law went into effect in New York State which allows owners of co-ops to apply for reverse mortgages. Up until the time this statute went into effect, seniors who wanted to obtain a reverse mortgage on their co-op apartments, were unable to do so. The reason for this is that co-ops are not real property under the law in New York State. The owners of a co-op have a personal property interest in the shares of the cooperative apartment corporation. Co-Op Mortgages and How They ...
What You Need to Know About Recent Changes to Co-Ops & Reverse Mortgages in New York
What You Need to Know About Recent Changes to Co-Ops & Reverse Mortgages in New York
What You Need to Know About Recent Changes to Co-Ops & Reverse Mortgages in New York
What You Need to Know About Recent Changes to Co-Ops & Reverse Mortgages in New York
propertyshark propertyshark | 2 years ago
NYC-based boutique law firm  Pardalis & Nohavicka  brings the latest legal updates from the world of real estate. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world.  It seems as though the rules keep changing for co-op boards, making it increasingly difficult for borrowers to...
NYC-based boutique law firm  Pardalis & Nohavicka  brings the latest legal updates from the world of real estate. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world.  It seems as though the rules keep changing for co-op boards, making it increasingly difficult for borrowers to...
Co-op application requirements
Co-op application requirements
Co-op application requirements
Co-op application requirements
Realiff Academy Realiff Academy | 1 year ago
-The completed purchase application, including transaction and party details  -A copy of the signed sales contract  -A comprehensive financial statement, including at least the most recent statement for each account listed -2+ personal recommendation letters  -2+ professional recommendation letters -A landlord reference letter -An employment verification letter  -Full federal income taxreturns for the previous two years -Permission to conduct a credit and background check -Awareness of the...
-The completed purchase application, including transaction and party details  -A copy of the signed sales contract  -A comprehensive financial statement, including at least the most recent statement for each account listed -2+ personal recommendation letters  -2+ professional recommendation letters -A landlord reference letter -An employment verification letter  -Full federal income taxreturns for the previous two years -Permission to conduct a credit and background check -Awareness of the...
Pass the co-op board interview
Pass the co-op board interview
Pass the co-op board interview
Pass the co-op board interview
Realiff Academy Realiff Academy | 1 year ago
Co-opboard interviews have a bad reputation, but they aren't all that bad. While you should be prepared for a full-fledged job interview, the board of directors usually just wants to welcome you to the building. They may ask you questions about yourself or your application, but if there were any major issues, they would have been addressed prior to scheduling the interview. Board members do not want to waste their time, so getting to the board interview is a huge step forward. 
Co-opboard interviews have a bad reputation, but they aren't all that bad. While you should be prepared for a full-fledged job interview, the board of directors usually just wants to welcome you to the building. They may ask you questions about yourself or your application, but if there were any major issues, they would have been addressed prior to scheduling the interview. Board members do not want to waste their time, so getting to the board interview is a huge step forward. 
January 2019 YOY% Change in Manhattan Co-op/Condo Listing Inventory
January 2019 YOY% Change in Manhattan Co-op/Condo Listing Inventory
January 2019 YOY% Change in Manhattan Co-op/Condo Listing Inventory
January 2019 YOY% Change in Manhattan Co-op/Condo Listing Inventory
millersamuel millersamuel | 2 years ago