NYC pied-à-terre tax: What condo and co-op owners need to know

The New York Times Real Estate section quotes Dan Wurtzel, President of FirstService Residential New York, as they discuss hot topics such as buying, selling, Airbnb and Local Law 87.

Co-op and condo owners throughout New York City are learning how to combat rodents by particpating in a "Rat Academy" offered by the city's Department of Health and Mental Hygiene. Kathleen Fontana of FirstService Residential shares her experience with this issue in December's Habitat magazine.

FirstService Financial (FFI) successfully assists FirstService Residential clients with progams that provide added value based on the global purchasing power of FirstService Corporation.

New York City residents spend roughly $3.4 billion on electricity for lighting every year, which accounts for 27 percent of the city’s total electric use and 12 percent of its greenhouse gas emissions.
 
According to the Energy Savings Cost Council, energy-efficient lighting upgrades represent the highest return on investment of any single-technology project, with an average ROI of 45 percent. These upgrades often pay for themselves in just a few years and the payback extends into the future through reduced energy and maintenance costs

FirstService Residential is in the midst of constructing annual operating and capital budgets for clients whose fiscal year begins on January 1. As you work with your property manager to finalize your budgets, several topics may warrant further consideration by your board this year.

FirstService Residential assembled a panel of experts to provide our clients with information and guidance on complying with Local Law 87 – a complex and potentially costly law that requires property owners to audit energy use and retro-commission their buildings every 10 years and submit an Energy Efficiency Report to the NYC Department of Buildings (DOB) documenting the results. The law impacts buildings over 50,000 square feet. Following are key takeaways from “Plotting the Right Course: How Multifamily Properties Can Benefit from Compliance with Local Law 87.” 
 

So you’ve spent hours searching for ways to save your condo or co-op association money. Your association board looked at every column in your balance sheet. You’ve pored over every statement. You’ve talked to every contractor and vendor. And you’ve searched floor to...ceiling?