To writer/editor Norman Schreiber, co-op boards engage in “bloodlust psychodrama.” He is the author of what Schreiber describes as a “fun novel,” Out Of Order, about murders in a co-op. It is available on Amazon.
by Norman Schreiber
Awesome and awful is a bill under consideration by the New York City Council.
The Council, that bastion of reform, hopes to transform the co-op sales process, though the effort faces a hard road.
As recently reported here, the pending bill (Intro 188) obviously views co-op boards of directors as evil and discriminatory. The measure would mandate transparency and accountability via 45-day time limits, explanations for turndowns, retention of documents for five years and board member certification that no discrimination occurred in rejecting a shareholder application.
Intro 188 puts the burden of proof on all co-ops to show that they don’t discriminate, instead of proving a pattern of discrimination in those that actually do so. I’m not sure if the bill could work; more likely, it would change the way in which discrimination is covered up.
Still, Continue reading
Part 1 of 2
It is up to the courts to decide whether a prospective buyer’s claim of discrimination is valid in a $1 million lawsuit.
But the case brought by an African whose application to a seven-member co-op board was rejected highlights the treacherous terrain of anti-discrimination laws.
According to the Real Deal last week, Goldwyn Thandrayen, a native of Mauritius, contended in a complaint amended two weeks ago that the board of 210 E. 36th St. in the Murray Hill neighborhood discriminated against him on the basis of national origin. Continue reading
The headline went like this:
“Can I Buy Your House, Pretty Please?”
In the Wall Street Journal, the article by Joann S. Lublin noted that the housing market has changed in some areas. As the subheading observed:
With inventory tight and prices rising, buyers in competitive markets like Silicon Valley and Seattle are returning to a boom-era tactic: writing heartfelt letters to sellers explaining why they should win the house. Signing with a paw print.
The piece is accurate in pointing out that an emotionally charged letter from a buyer can sway a seller who is considering more than one offer.
Referring to the missives as “pitch letters” or “love letters,” Lublin correctly reported that Continue reading