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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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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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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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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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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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 CondosBy 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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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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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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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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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 CondosBy The Habitat Group
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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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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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As tempting as it is to hire a contractor to get the job done, it pays to have oversight from a licensed professional. Ira Meister, President of Matthew Adam Properties, shares a story about one of their clients who ran into trouble when a manufacturer installed electric HVAC system basically shut down. Without a professional overseeing the project…
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In the spring of 2022, New York mandated that for a co-op or condo to qualify for a property tax abatement, it had to pay its staff a prevailing wage. If a building was unionized, this didn't really have an impact. But for those buildings that had non-union employees, the impact has been significant. A.J. Rexhepi, Managing Partner at Century Manage…
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Complying with New York City's Climate Mobilization Act is not an easy task. You need a report from an energy professional and you need time to digest the information and find funding. Michael Wolfe, President of Property Management and Principal of FirstService Residential, shares some insights on what is needed, what boards can require of owners …
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A co-op's reserve fund reveals a lot about how well it operates. It sends a message about board planning, available resources and budgeting capabilities. Ignoring it is dangerous, and replenishing it takes planning and stick-to-itiveness. Mitch Unger, Controller and Principal of The Lovett Group, explains how one of their clients opted for replenis…
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Nobody wants a monthly maintenance increase, but today that is practically unavoidable. Stuart Halper, Vice President and Co-Owner of Impact Real Estate Management, says the most important thing a board can do is to keep shareholders and unit owners informed. Sounds simple, but is often overlooked. How To Run Your Building: For Co-ops and Condos…
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New York City's Local Law 97 is presenting many co-op and condo boards with a vexing conundrum: invest now to avoid fines, or pay fines to avoid large investments. Gary Andriotis, Vice President of All Area Realty Services, points to funding sources that can help, and advises boards to budget now and share findings with your community. How To Run Y…
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Sometimes board directors are understandably reluctant to raise monthly fees, or even to take care of building areas that don't affect them personally. But, says Daniel Wollman, CEO of Gumley Haft, it's management's job to guide boards into being better business thinkers sometimes take more progressive stances. How To Run Your Building: For Co-ops …
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Co-op and condo boards are caught between a rock and a hard place when it comes to emotional support animals. They have to tread very carefully to not run afoul of anti-discrimination laws and at the same time deal with any unhappy residents who object to the pet. Alvin Wasserman, Senior Director of Asset Management at Fairfield Properties, explain…
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When doing repairs on your building requires access to your neighbor's property, you need a licensing agreement. But as Margaret McAdams, Director of Management at Buchbinder & Warren explains, that's often easier said than done. The reasons why vary, but taking one bit of advice can help: Plan in advance. How To Run Your Building: For Co-ops and C…
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Communication at co-ops is more than a two way street, not just between board directors, but between boards and shareholders. And sometimes management has to step in and act as a liaison between the board and the residents. In this episode, Eleni Magoulas, President of All Area Realty Services, presents a real-world example of when this works, and …
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61. NYC Real Estate Budgeting for 2024 Webinar on October 18, 2023
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Host Mark Levine of NYC Property Management firm EBMG will be taking part in a budget related webinar on October 18, 2023 from noon - 1pm. This webinar is brought to you by Super and BrickUndergound and aims to give viewers guidance on the next year's budgeting strategies and best practices. Register for the webinar here: https://us06web.zoom.us/we…
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60. Lithium-Ion Batteries and E-Scooter Prohibitions in Residential Buildings
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Host Mark Levine of NYC Property Management firm EBMG sits with Ingrid Manevitz, Partner and Co-Chair of the Condominium and Cooperative practice at Seyfarth Shaw LLP to discuss Lithium-Ion batteries and e-scooter prohibitions in NYC residential buildings. We cover rental building, coops and condos and what they can do to minimize risk. Email the s…
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59. Local Law 126 of 2021 Yearly Parapet Inspection Starting January 1, 2024
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Host Mark Levine of NYC Property Management firm EBMG delivers a quick episode on the new Local Law 126 of 2021 Yearly Parapet Inspections, Starting January 1, 2024. Email the show! nycrealestatepodcast@gmail.com Link to new law: https://rules.cityofnewyork.us/wp-content/uploads/2023/08/Final-Rule-Requirements-for-Inspection-of-Parapets.pdf Fundame…
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58. Let's Take a Few Minutes to Talk Minutes
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Host Mark Levine of NYC Property Management company EBMG is solo on this episode to talk about Minutes of the corporation. Email the show! nycrealestatepodcast@gmail.com or call Mark directly a 212-335-2723 x.201. What are minutes? Minutes are the official record of the actions taken and decisions made by a corporation's board of directors during a…
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57. Super - A Platform for Property Management with Lindsay Liu, Co-Founder and CEO
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Host Mark Levine of NYC Property Management company EBMG sits with Lindsay Liu, the Co-Founder and CEO of Super, a new to market platform that assists managers and boards / owners oversee their properties in a new and efficient way. Email the show! nycrealestatepodcast@gmail.com Lindsay and Mark go through the platform, why it was created, how it i…
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