49. The Differences Between Cooperatives and Condominiums with Julie Schechter, Esq. from Armstrong Teasdale LLP

NYC Real Estate

Host Mark Levine from NYC Property Management firm EBMG sits with Julie Schechter, Esq., a frequent guest and partner at law firm Armstrong Teasdale to go over the fundamental differences between cooperative and condominium buildings.

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Email Julie Schechter at [email protected]

Topics discussed on this episode include:

- when buying into each building, what are you buying?

- what is an Offering Plan?

- what is the Proprietary Lease?

- What are bylaws?

- Right of First Refusal (condo)

- Reasons to decline a buyer (coop)

- Underlying Mortgages / Tax Deduction Letters

- Board limitations

- Arrears Collections Procedures

- and more.