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Splitsville – Don’t Forget The Condo

Splitsville - Don't Forget The Condo Hard to believe, but that’s apparently what happened to a couple who got divorced, as we found out from a decision handed down by the Appellate Division just last week. They got a judgment ending their marriage – splitting up themselves and their assets – but without bothering to say anything about the Upper West Side condo they owned. So what happened to it? Read more »
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Sorry, The Price Is Too Low

Sorry, The Price Is Too Low Can a co-op reject a creditworthy buyer solely because the board thinks the price is too low? That’s the exact email I got last week. “No,” I said, it being pretty much accepted wisdom that the market, not the board, sets prices so it can’t reject a buyer just because the apartment is too cheap. Only it can, at least if it has a right of first refusal. That’s the takeaway from the decision handed down yesterday. Read more »
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Can I Sell My Own Apartment?

Can I Sell My Own Apartment? That depends who you are and how much you’re prepared to put up with. Take a look in the mirror when you are at your most Zen like and ask whether you’re willing to put up with crazy people parading through your apartment, criticizing every decorating decision you’ve made, opening your closets and test flushing your toilet, asking you ridiculous questions, and offering less than you paid for your place. If the answer is anything less than an unqualified “yes,” FSBO is not for you. If you think you have the necessary fortitude, read on. Read more »
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Can That Condo Flip You Out?

Can That Condo Flip You Out? Yes -- at least the positive drumbeat is growing more insistent. Condos need money just like co-ops Short of robbing a bank there are only four ways of getting it: 1) Raise the monthly charges -- they can only go so high before there’s a mass revolt, 2) Impose assessments – never a popular revenue-raising method, 3) Get a loan – still harder for condos than co-ops, or 4) Impose a flip tax. The question is can they do it? Read more »
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How Much Is A View Worth?

How Much Is A View Worth? Ask the folks at 77 East 12th Street, that red brick 1960’s building in the heart of the Village. Many of you have followed the saga of Sam Chang and his hotel that has gone up in fits and starts since the project was announced nearly four years ago. I have watched it rise in real time each day on my way to the Union Square subway station. What's the upshot? Read more »