Habitat Magazine

HABITAT is a distinctive publication that reflects the spirit of New York. Our goal is to provide valuable information and compelling human-interest stories to enhance awareness, education, and empowerment for board directors. As a one-of-a-kind blend of a consumer-focused and business-to-business trade publication, HABITAT combines engaging storytelling with practical articles. We address topics related to co-op and condo living, along with management issues, through the viewpoints of board directors and property managers.

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First lawsuit under NYC's Short-Term Rental Registration Law

4 days ago | habitatmag.com | Bill Morris

Co-op and condo boards applauded when the city enacted Local Law 18, which was designed to cut down on the scourge of illegal short-term apartment rentals in their buildings. “I love Local Law 18!” Stuart Saft, a partner at the law firm Holland & Knight and then-chairman of the Council of New York Cooperatives & Condominiums, told Habitat shortly before the law went into effect in January 2023.
Shareholders seek change in co-op leadership

5 days ago | habitatmag.com | Bill Morris

A co-op in central Queens is ripe for a coup. Shareholders are not invited to monthly board meetings, only to the annual meeting. The board has refused to share minutes of its monthly meetings, telling shareholders to travel to the managing agent’s office in Nassau County to read them. The managing agent won’t reveal the date of the next annual meeting. How can shareholders force the board to hold an election?
New York State law may trigger rental building conversions to condos

1 week ago | habitatmag.com | Bill Morris

A little-noticed provision tucked inside New York State's recently passed $254 billion budget could cause history to repeat itself — with a twist. The provision allows residents in large, newer apartment buildings across the city to vote to convert their rental buildings into condo buildings and buy their units — if just 15% of tenants or would-be buyers agree, Brick Underground reports. The provision could spark an echo of the co-op conversions that swept the city four decades ago.
NYC Co-ops' lawsuit against Local Law 97 dismissed

1 week ago | habitatmag.com | Bill Morris

The three-year legal battle is over, and Local Law 97 is still standing. A panel of state Court of Appeals judges has dismissed a long-shot lawsuit that sought to overturn the city's ambitious climate law, Crain's reports. As of 2024, Local Law 97 has required owners of buildings larger than 25,000 square feet, including co-op and condo boards, to cut their carbon emissions or face fines. The carbon caps will become more stringent in future years.
New York Budget Cuts Property Taxes for Mitchell-Lama Co-ops

2 weeks ago | habitatmag.com | Bill Morris

The newly passed New York State budget contains a rare ray of good news for affordable Mitchell-Lama co-ops and rental properties. The budget slices in half — from 10% to 5% — the percentage of shelter rent that Mitchell-Lamas must pay as property taxes. With many Mitchell-Lamas squeezed by rising building maintenance, insurance, utility and other costs, the tax relief comes as welcome news.
Co-op Exclusion Bill Hits Roadblock in NY State Senate

2 weeks ago | habitatmag.com | Emily Myers

A bill excluding co-ops from legislation aimed at landlord-tenant situations has hit an unexpected roadblock in the New York State Senate. With three weeks left of the legislative session, the carve-out bill, sponsored by Senator Toby Ann Stavisky, is competing with a bill introduced by Senator Jessica Ramos extending tenant protections to co-ops.
Trump reverses halt on Long Island wind project

2 weeks ago | habitatmag.com | Bill Morris

The Trump administration's policies — on tariffs, the Russia-Ukraine war, immigration, clean energy, and more — seem to change based on which way the wind is blowing. The latest proof came on Monday, when the Trump administration reversed its decision to halt a massive offshore wind project near Long Island, Gothamist reports.
Condo Board's Bad Faith Decision Sparks Lawsuit

2 weeks ago | habitatmag.com | Carol Ott

Co-op and condo board decisions get questioned all the time. If aggrieved parties take a board to court, the court will examine the decision from a couple of perspectives. Did the board carry out its fiduciary duty? And was the decision made in good faith? If a board fails to fulfill these responsibilities, a court can step in and overturn a board decision. "The fiduciary duty has essentially two components," explains Scott Pashman, a member at the law firm Cozen O'Connor.
Trump's Plan to End Energy Star Program Sparks Outrage

3 weeks ago | habitatmag.com | Bill Morris

In their unending drive to reduce energy consumption and costs, most residents of New York City co-ops and condos, including the boards that govern their buildings, have pursued two linked strategies: improve the efficiency of all building systems and appliances, and eliminate waste whenever possible. A valuable tool in this campaign has been the Energy Star program, which, by rating the efficiency of appliances, saves American consumers more than $40 billion annually on energy bills.
NYC water rate hike likely to impact co-ops and condos

3 weeks ago | habitatmag.com | Emily Myers

Another water rate hike is likely just around the corner. A series of public hearings are scheduled between May 27 and June 3 in each borough to consider a proposed 3.7% increase in water rates. The relatively good news is that the proposed increase, which would go into effect July 1, is in fact the lowest in four years. In the past decade, the largest increase of 8.5% was last year (however, rate increases were frozen in 2017, 2018 and 2021).