Problem Solved! For Co-ops and Condos

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 $100,000. Habitat’s Paula Chin speaks with Sophie Bird...

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 underneath. “When we see these kinds of condition...

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 episode Habitat Magazine's Carol Ott speaks to...

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 issues to consider. Habitat Magazine's Carol Ott s...

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 lawsuit? Avi Zanjirian, CPA and par...

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 costs by monitoring and tweaking motor speeds,...

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 challenges of specifying adequate insurance, tracking p...

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 between $15 to $20 million, the board discarded the...

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 Bone/Levine Architects , explains the ram...

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 of CitiQuiet Windows, a brand of interior s...

It takes a motivated board — or at least one motivated board member — to jump-start energy reduction projects. That describes a Bronx board president, who not only wanted to improve his building’s energy performance but also wanted to reduce the operating costs for shareholders. Thomas Morrison, director of energy management at the engineering firm En-Power Group , describes how this mission was a...

Unforeseen problems, delays, cost overruns — elevator repair jobs rarely go off without a hitch, which can cause big dents in a building's repair budget. In today’s episode, Donald Gelestino, president at Champion Elevator, shares two cautionary tales that offer the same lesson: When tackling elevator repairs, you’d be wise to expect the unexpected. Donald Gelestino is interviewed by Paula Ch...

When it comes to managing co-op and condo finances, boards can’t afford to be complacent — yet, some are. Take the case of one New York co-op, which found itself owing $300,000 in real estate taxes and water and sewage bills due to negligent management.  Avi Zanjirian, a partner at the accounting firm Czarnowski & Beer , is here to tell the cautionary tale. Avi Zanjirian is interviewed by Paul...

When a condo is governed by a board with competing interests, getting things fixed can be slow going. At one such Manhattan condo ongoing water infiltration from a public plaza was compromising structural integrity of a below grade parking garage. Figuring out what needed to be fixed and getting the approval from owners with different interests and involvement, well, that’s not an easy task. Kevin...

Between high inflation, rising expenses, and the lingering effects of the pandemic, it’s never been harder for co-op and condos to balance their budgets. Carl Cesarano, principal at the accounting firm Cesarano & Khan, explains how boards can navigate today’s challenging landscape — whether negotiating commercial leases, refinancing the mortgage or trimming expenses — by evaluating and readjus...

When apartment residents have to wait 15 to 20 minutes for hot water to reach them, it’s not only a nightmare but it’s wasteful and expensive. In this episode, Peter Varsalona, principal and vice president at RAND Engineering & Architecture , outlines the fix at one Manhattan condo to recirculate the water at a faster pace and cut costs in doing so. Peter Varsalona is interviewed by Habitat&ap...

It’s much more difficult for co-ops and condos to get a good general liability insurance policy today. There are fewer carriers, coverage is shrinking and price tags are growing. In this episode, Jonathan Steward, vice president at OSA Insurance Brokerage Services, explains what co-op and condo boards need to do to find an affordable carrier in this challenging market. Jonathan Steward is intervie...

There are countless buildings in New York City that owe their elegance to terracotta. Caring for it, though, has grown more complicated and expensive in the past few years. Richard Koenigsberg, the founder and president of Koenigsberg Engineering , explains why this is so and what to expect if terracotta is on your building.  Richard Koenigsberg is interviewed by Carol Ott for Habitat Magazine . T...

A Westchester condo thought it had an insurance deal from a new carrier. But after the carrier inspected the property, it decided the physical conditions weren’t up to snuff and it wanted to walk, leaving the condo in the lurch. In this episode, Jason Schiciano, co-president at Levitt-Fuirst Insurance, explains what happened next, and offers some words of insurance wisdom to others who might be fa...

Detecting the source of water leaks on building roofs and exterior walls can sometimes be more difficult than fixing the problem. But Akaash Kancharla, chief executive at aRoboticsCompany , has some good news for co-ops and condos — a new generation of sophisticated robotic machines that can pinpoint air and water leaks in buildings for far less than paying humans to do the job. Akaash Kancharla i...

It’s no surprise that it’s hard to keep up with programs and subsidies involving solar energy; the industry changes so fast that it’s jokingly referred to as the solar coaster. In this episode, Russell Wilcox, founder and CEO of the solar developer Urban Energy , describes “Behind the Meters,” a configuration that flows electricity directly to apartments rather than into the wider electric grid. R...

Among the many financing decisions facing co-op and condo boards, refinancing the property's underlying mortgage — which is typically done to pay for capital repairs — is one of the most challenging, and complicated. In this episode, Harley Seligman, senior vice president at the National Cooperative Bank , sheds light on the biggest misstep boards make when refinancing  — which is not borrowi...

It may seem counter-intuitive, but co-op and condo boards can save money by doing major building repair projects back-to-back. Leon Geoxavier, senior project manager at Howard Zimmerman Architects , and Evan Petkanas, president of STONE Engineering & Architecture , are here to tell us how one building facing both a roof replacement and facade repairs did just that. The price tag was hefty, but...

When it comes to property insurance, co-op and condo boards can’t be too careful about making sure they are adequately protected. In this episode, Gina Corso, business account manager at the insurance firm Mackoul Risk Solutions , tells the story of how one oceanfront condo discovered its carrier didn’t cover its beachfront exposure — and had to scramble to find a solution.  Gina Corso is intervie...

Brace yourself for the next cycle of New York City’s facade inspection program, because projects are becoming top heavy with soft costs. Take the initial inspection. In the past that could cost a 15-story co-op or condo $9,000, now it’s anywhere from $31,000 to $53,000. That’s only the start, and you haven’t even replaced one brick. In this episode, Eugene Ferrara, president of the consulting and...