EPISODE 39

The secrets to a well-run co-op or condo building

When you buy a condo or co-op in NYC, it's important to do everything you can to find out how the building is run. After all, it’s is a big investment—so what are the secrets to a well-run building? What are the typical flashpoints between residents and how are they best resolved? These are some of the questions addressed in this week's podcast with real estate attorney Steve Wagner, partner at the Manhattan law firm Wagner, Berkow & Brandt (and a Brick Underground sponsor).

0:00

By Emily Myers | February 14, 2020 - 9:00AM

When you buy a New York City apartment, it's important to do everything you can to find out how the building is run. After all, buying a condo or co-op is a big investment and you want to see that money is being invested in the building—or there could be assessments down the road. Buildings naturally deteriorate and depreciate, so if funds aren't being put in, it’s the equivalent of liquidating the business.

So what are the secrets to a well-run building and what are the typical flashpoints between residents and how are they best resolved?

These are some of the questions addressed in this week's podcast. Real estate attorney Steve Wagner, partner at the Manhattan law firm Wagner, Berkow & Brandt (and a Brick Underground sponsor), speaks to host Emily Myers about some of his experiences both representing co-op and condo owners and as board president of his own 420-unit, co-op building.

In handling shareholder requests, Wagner believes the best policy is to "try and get to yes." He prioritizes board transparency, encourages buyers to get as much financial information as possible about the building, and also has advice for anyone preparing for the all-important co-op board interview.

Please do leave us a rating or review at Apple, Spotify, or wherever you get your podcasts. We'd love to hear your feedback on this or any of our other episodes. Send us an email, sign up for our newsletter or follow us on social media @BrickU.

Live The Brick Underground Podcast: The intersection of transit and housing in NYC

Rent The Brick Underground Podcast: How to read between the lines of apartment listings—and get the most out of your search

Sell The Brick Underground Podcast: How does NYC real estate move past ‘peak uncertainty’ in 2020?

Emily Myers

Senior Writer/Podcast Producer

Emily Myers is a real estate writer and podcast host. As the former host of the Brick Underground podcast, she earned four silver awards from the National Association of Real Estate Editors. Emily studied journalism at the University of the Arts, London, earned an MA Honors degree in English Literature from the University of Edinburgh and lived for a decade in California.

SEE MORE BY Emily Myers »

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.