Brick Underground

Steven Wagner, a co-op and condo attorney with Wagner Berkow & Brandt and the president of his 420-unit building’s co-op board notes that an executive order issued by the governor has given buildings the option of postponing this year’s annual meeting due to coronavirus, as well as the option to hold the meeting virtually. But the executive order did not extend any deadlines that may be in your building’s bylaws for becoming a candidate. Most bylaws allow you to be nominated as a candidate at the meeting.

The latest weekly Manhattan sales market report from UrbanDigs found 133 new listings as more sellers entered the market for the week of May 11-17—representing the third weekly increase in new listings—an increase of 39 percent over the prior week.

“Board operations for both condos and co-ops are affected by multiple executive orders issued by the governor as a result of the coronavirus,” says Steve Wagner, partner at the Manhattan law firm Wagner, Berkow & Brandt. It’s worth speaking with your building’s attorney concerning annual meetings, closings, and move-in policies.

The number of listings going off market continues to outpace the number of new listings, however an increase in new listings suggests that sellers may slowly be returning to the market, says Noah Rosenblatt, CEO of UrbanDigs.

Bolster, a design-build firm, discusses how the novel coronavirus (Covid-19) pandemic could effect NYC homeowners who are in the process or planning a renovation.

A new report from UrbanDigs, a Manhattan real estate analytics platform, notes an increase in listings comes after five weeks of sharp declines.