Hi, I’ve owned three co-ops prior, but always had a fulltime job when preparing the board package. But next year I’m thinking of heading into early retirement (54yo), living off brokerage and savings until I can access my retirement and social security. If I were to buy the unit outright and had ample funds remaining- like several years of reserves to pay the maintenance, would a board have issues accepting my application?
Hi all, first time poster long time lurker. I recently viewed a unit in “estate” condition in an HDFC co-op, and was honestly saddened by how it had been left. It was in complete disrepair, hadn’t been painted in seeming decades, had structural damage. What’s worse is that the woman who had lived in it was clearly an original owner of the building, she had a framed list of all the original shareholders in the living room and it was clearly a source of pride. My question is really about if this is a huge red flag? Co-ops have boards, tenants pay maintenance - was no one looking out for this neighbor? Did the building hold no responsibility for the upkeep of this unit? I am genuinely trying to understand if this is common, if it’s legal, etc. I guess you could say “live and let live” but isn’t the whole point of being an owner/shareholder, and dealing with all the insane rules, being a part of a community?
I've been an owner of an apartment in a Co-Op building for the past 12 years. I have never caused any issues or had run-ins with the board.
I recently had a male friend stay in and out of my apartment & put him in as a guest into our building security system as such. My board unexpectedly decided to fine me for having a tenant for more than 30 days. But my friend did not stay for 30 days continuously. He was in and out over the course of a few months helping me with a few projects and house sitting when I was traveling over the holidays since we've had some ongoing renovations in the building that required outside contractors to be in my unit.
I have told the board as much and as soon as I was alerted there was an issue, he never stayed over again. They have since fined me $1500 even though they seemed understanding & nice when I explained my circumstances and taken it out of my monthly co-op fees.
I have since sent them my flight tickets showing them when I was in and away from NYC. My work has a 3x RTO in-person policy and my HR has offered to write me a note that I was at work and never gone for longer than 10 days at any given time. But as a grown woman and owner, this feels rather childish to have to do. I can have friends stay over in a unit I own, right? The board doesn't have any proof that my guest stayed illegally for over 30 days and there was no sublease or exchange of money.
What can I do? The fine is significant & I feel bullied/harassed into paying it. Who can I contact for mediation?
Hi fellow New Yorkers. For those of you whose co-op rules allow e-bikes, what are the specific rules: UL only or all batteries? Must disclosure be made by residents / is a list kept by the board, or is it an honor policy? Can batteries be stored/charged in common areas or units only? Does it only apply to the bicycle form factor, or all e-micromobility?
Also, for those privy to these details, what impact has the policy change had on your insurance situation? Rate hike, need to switch? Any specific insurer or broker you could recommend?
Feel free to DM me.
Has anyone here taken advantage of NYC’s no-fine inspection program?
Considering having them come by to provide guidance but I don’t want to end up being committed to actually correcting anything unless it’s truly dire/life threatening.
Curious if anyone here’s got experience with this?
In our co-op, we have 9 board members, roughly 1/4 of the units are represented on the board, and several of these members have held their seats for 15+ years. When a board member recently moved out, the remaining board simply selected someone to fill the vacancy themselves and announced it to shareholders after the fact. There was no call for other candidates, no vote, nothing open to the rest of us.
Is this a typical/legal way for a co-op board to fill a vacancy? Or should shareholders have had a chance to nominate or vote on who fills that seat?
** Added Notes: Additionally, the board has introduced new house rules that were never discussed during the annual shareholders meeting or put to a shareholder vote. Is this typical, or should rule changes like this require shareholder input/approval?
This question is about a not very large sum of money, so please forgive me for being so annoyed about it and thank you in advance for thoughts and advice. I am co-owner (with family members) of a very small studio apt in a brownstone. Daughter lives there. It's a parlor level apt with 2 very large windows which consist of original windows that do not close completely and old defective storm windows, which are on the inside. I stayed there for a week this past the winter and it was extremely cold (literally cold wind blowing in) so we decided to replace the inner storm windows. The coop said we had to pay for them, plus pay all fees, but they did not tell us what the engineer's fees would be. (Yes, I should have inquired.) The total cost for the windows and installation will be approximately $4,200. There were lots of emails with the management company. We had to pay a $500 fee to submit the proposal. The engineer was cc'd on several of the many emails, to see if we needed "any permits including LPC Landmarks Preservation Commission approval." I emailed him a floor plan, showing that the windows were interior. At first the engineer did not respond. Then, 2 months after I sent the floor plan, an hour and a half after he was reminded by the management company guy, he responded that we did not need any permits if the windows were on the inside. This week we were billed $1,500 for the engineer's work. I called the engineer and he told me it was a flat fee. Management company told me I had to work it out with the engineer and his company. This feels wrong to me because he seems to have spent 5 minutes (if that) looking at the floor plan. I plan to write and politely point out that the fee is disproportionate to the project and that once he saw that the windows were inside, it must have been obvious that the outer landmarked windows were not being altered. Am I crazy, is this just how it works?
NY Post story by Joyce Cohen over a shareholder dispute that has lasted for years.
Has anyone here done this where they've bought their neighboring unit in a co-op and combined the two units? Talking to some banks they won't finance the second unit because they view it as a non primary residence, so it's hard for them to finance. I know NCB might do a loan like this, but are there other banks / ways to finance this? One option is a HELOC on my current place and use that as equity to fund the deal, but it wouldn't cover the cost of the other place. The key here is co-ops. With condos it's less of an issue as the banks would view it as buying a secondary residence, so the only thing they care about is debt to income. Any thoughts would help!
EDITED TO ADD: This is on TOP of the bank reference letter that states their accounts / balances.
I'm curious how common this is. A co-op we're dealing with is requiring two financial reference letters from each applicant—including each spouse in a married couple. Have others run into this? If so, who typically provides the letters (banker, financial advisor, accountant, etc.)? Did you find them to be meaningful or mostly just another formality?
I’m a shareholder in a 180-unit NYC co-op and one of 12 units with a private backyard patio. Unfortunately, I’m among the few residents who have had scaffolding occupying their patio since Nov 2021, incl. steel pipe supports resting on wood blocks and an overhead sidewalk-shed-style roof structure.
After several years of inspections, planning, and discussions around major LL11 work (as well as future LL97 considerations), our board decided to undertake a full façade replacement. Construction began in April 2026 and is expected to wrap up in summer 2027.
As a result, I will have gone nearly six years without meaningful use of a patio space that is part of my apartment and reflected in the # of co-op shares I own. I previously requested a maintenance rebate or other accommodation from the board but was denied.
I’m curious whether others in NYC co-ops have faced a similar situation. Did your building provide any form of compensation, maintenance abatement, or other relief? Legally, does New York co-op law provide any guidance when a shareholder loses long-term use of an exclusive-use outdoor space due to building-mandated construction?
Not sure if this this type of post is allowed here, so please let me know if not.
My lease is up in the fall, and while I love renting (it’s comforting knowing I can just submit maintenance requests instead of repairing myself), the rental prices for a 1-bedroom in NYC are making me feel sick, and I think I’m ready to finally invest in buying an apartment for my next move.
Some details about what I’m looking for:
-Prefer to keep budget below $725K for 1-bedroom
-Priorities: safety, cleanliness, and living with respectful neighbors (I’m in my late 30s and would like my new home to be a peaceful sanctuary within the bustling city)
-Preferred neighborhoods are Gramercy, Flatiron, Kip’s Bay, Turtle Bay (but open to exploring other neighborhoods if others have had really positive experiences!)
EDIT: Thank you all for the helpful feedback! Seems I was approaching this the wrong way. So my revised question— does anyone have any recommendations for great buyer’s brokers for Gramercy, Flatiron, Kip’s Bay, or Turtle Bay?
Hello to fellow coop board members,
Looking at doing some J-51 projects now that it seems like the program is being extended. Our managing agent has recommended an attorney who specializes in assisting with the application, but their fee is 25% of the approved abatement, paid up front (when application is approved). This seems steep, but maybe is typical?? Curious what other boards have experienced, and if you have any J-51 consultants/attorneys who you recommend? Thanks!
I’m starting my search for a coop in Queens.
Well aware that a potential seller can say, no you pay your agent’s commission. But on the off chance they agree to pay and the commission % difference between my and another buyer’s offers becomes an important difference, what commission % have you agreed to for your agent as the buyer?
Hi folks, an adjustable rate mortgage (ARM) in my building has been a thorn in my side for several years and it has come to a head. The mortgage originated around 40-45 years ago when the city "came into the building and renovated everyone's apartment", i.e. destroying the structure of the apartments. We are trying to hold back an HOA FEE increase.
I recently learned about this from long term tenants. Information was kept from me for several years until it came to a head. Everyone, including the super, has known about this, but I did not. The super has trolled me multiple times as well. This building is under HDFC. I am one of 2 shareholders under age 60. But a lot of power players inside the building are not shareholders, but relatives of shareholders.
Long story short, we have to refinance immediately. Has anyone here refinanced through non profit, less expensive banks such as the Lower East Side People's Credit Union. I will be contacting neighborhood groups such as Banana Kelly and Mid Bronx Desperadoes for advice on this matter.
Our building house rules mandate all rooms other than kitchen and bath too be carpeted or have rugs down. My upstairs neighbors seem to think this doesn’t apply to them and are banging on exposed hardwood all day.
I am woken up every single morning. They interrupt work calls and are constantly slamming and dropping heaving objects that echo. The stomping is so heavy that it shakes our glassware and lights.
I have spoken with them 3 times and they just play dumb about the issue.
Is the next step reporting their lack of rugs to the board? I am staying with family and not formally on the lease so I’m worried about rocking the boat but I am at my wits end. I’m literally startled awake every day by what sounds like someone hammering our ceiling…
And yes I run 3 fans, white noise machine + earplugs and they are louder than all of that…