Founded May 1982 by Carol J. Ott, Publisher and Editor-in-Chief, HABITAT magazine is an independent publication with paid circulation targeting decision-makers at the 8000+ residential co-ops, condos, and homeowner associations in the New York City greater metropolitan area. HABITAT is an independent publication as unique as New York. Our mission is to bring information and human-interest stories to champion awareness, education and empowerment among board directors. HABITAT provides credible, objective, substantial coverage – readable, informative, human-interest stories to illustrate and educate our readers on how people effectively govern and manage their associations and successfully contend with the complex issues of co-op / condo living.
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Great to have a person to call when banking questions need to be answered!
Habitat Magazine founder Carol J. Ott understands that strong relationships are a valuable cornerstone to the long-term success of her business. Learn more about why she’s chosen to work with our team as her banking partner for nearly 20 years. https://bit.ly/4etaFNS
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Habitat Magazine founder Carol J. Ott understands that strong relationships are a valuable cornerstone to the long-term success of her business. Learn more about why she’s chosen to work with our team as her banking partner for nearly 20 years. https://bit.ly/4etaFNS
The word "final" has been getting a workout from the city's Department of Buildings this year. The DOB has just released yet another "final" set of rules laying out how co-op and condo boards and other building owners can comply with the city's ambitious and controversial climate law, Local Law 97. With the first year of the law's implementation drawing to a close, the DOB is seeking to allay concerns of building owners who are worried that the retrofits required to bring their buildings' carbon emission into compliance will be financially devastating. Head to our website to see the highlights of the latest batch of rules: https://lnkd.in/gRUkezij #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
A new episode of How To Run Your Building is out! A Gas Story: How One Board Didn't Wait For The Inevitable One of the most reliable sources of fuel for New York’s apartment buildings is gas, but the lines that it flows through — from heating to cooking — have become a critical concern because leaks often lead to complete gas shutdowns. A.J. Rexhepi , CEO of Century Management, recounts how one board at a pre-war West Side co-op looked at their fuel options, considered their finances and decided to stick with gas — but not wait for the inevitable. Habitat’s Carol Ott interviews Rexhepi to find out what they did. Listen here: https://lnkd.in/gx8-9sxu #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
The clock is ticking. Boards of co-ops, condominiums, and homeowners associations have until the end of the year to comply with the Corporate Transparency Act (CTA). The CTA was enacted a few years ago to combat money laundering and corruption by requiring most businesses to identify and provide information about their beneficial owners. The law requires that most companies disclose information on the company and its beneficial owners to the Financial Crimes Enforcement Network of the U.S. Treasury Department, along with annual reports of those who own more than 25% of the company or have substantial control. This initial report is due by Dec. 31, 2024. Read the full article on our website: https://lnkd.in/gyssF7Sw #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
Thousands of New York shareholders living in land-lease co-ops cheered recently when Gov. Kathy Hochul signed the Ground Lease Renewal Bill into law. The new law, introduced in May by Assemblymember Ed Braunstein (D-Queens) and state Sen. Toby Stavisky (D-Queens), amends the Real Property Law to allow shareholders in land-lease co-ops to exercise the renew clause in their ground leases at any time, meaning they no longer have to wait for the renewal date specified in the lease. Most leases are long-term, sometimes 99 years. Full coverage: https://lnkd.in/g26jQV44 #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
Faced with a sharp spike in rent for the land its building sits on, the board at the land-lease Carnegie House co-op at 100 W. 57th St. has filed a lawsuit asking the state to establish how initial apartment rents will be calculated if negotiations with the land owner break down and the co-op is dissolved and converted into rent-stabilized apartments. The lawsuit points to state rules that give the division of Homes and Community Renewal the power to calculate initial rents if a landlord causes the “deconversion” of a co-op. Read the full article: https://lnkd.in/gqmv6wKF #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
When sponsors convert buildings with substantial commercial space, they often hold the lease for that space as master tenant and, in the offering plan, dictate terms that give them significant rights that can cause problems when the board gains control. Thomas W. Smith from Smith Buss & Jacobs, LLP is featured in Legal Talk. https://lnkd.in/gv8ZaY9n
There's a huge question on the minds of co-op and condo boards and their property managers these days... Why are our insurance proposals and renewal information being delayed, sometimes until the day of expiration? Find out why by reading our article: https://lnkd.in/gu3rgsBk #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity
A top priority for most co-op boards is maintaining the value of apartments in their buildings. A common tool for protecting value is the rejection of sales applications at a price the board deems too low — and thus likely to drag down values building-wide. But this practice, according to the appraiser Jonathan Miller, can backfire and actually damage apartment values. Find out more by reading the article on our website: https://lnkd.in/gEE3J7AT #condo #nyccondo #coop #nyccoop #nycrealestate #condoboard #NYC #newyorkcity