And if they succeed, that risks leaving the co-op without sufficient coverage for all the buildings it owns.
"Boards need the freedom to act in the best interests of the co-op without having to worry about every decision being second-guessed through expensive litigation".
"It's a way of refurbishing the coffers of the co-op without being too painful for the shareholders," said Mary Ann Rothman, executive director of the Council of New York Cooperatives and Condominiums.
And while choosing directors who can effectively manage a co-op without alienating at least some shareholders is difficult, dealing with a sponsor who continues to exert control over a building years after the conversion can be downright infuriating.
A 750-square-feet one-bedroom one-bath co-op without a harbor view at 350 Richmond Terrace recently sold for $66,000, while at 50 Fort Place a spacious 1,100-square-foot 1,100-square-foot 1,100-square-foothout view sells for $100,000, according to Ms. Wolfe.
(This, co-op lawyers said at the time, was a powerful affirmation of the power of a board to conduct the affairs of a co-op without judicial interference under the "business judgment rule". The case is now on appeal to the Court of Appeals, the state's highest court).
My brother and I then had to sell my mother's co-op without her help or participation.
To open a brothel, let's say it's a co-op without a manager, it's split equally - you're not required to get a license.
Nov: The CO OP: Greg Beebe (1st).
Remember most achievements are for co op.
When I spoke to the local Kiwanis chapter, I found that they were crisscrossing the state collecting antique foot-pedal Singer sewing machines for shipment to rural co-ops in Central America without electricity ― catalyzing this small city's Sewing Machine Project that has sent 2,500 machines worldwide since 2005.
