Page 5 - CooperatorNews New Jersey Fall 2021

NJ.COOPERATORNEWS.COM
COOPERATORNEWS NEW JERSEY
—FALL 2021
5
Yale Robbins
Publisher
Henry Robbins
Executive Vice President
Joanna DiPaola
Associate Publisher
Hannah Fons
Senior Editor
Darcey Gerstein
Associate Editor
Pat Gale
Associate Editor
Shirly Korchak
Art Director
Anne Anastasi
Production Manager
Alan J. Sidransky
Staff Writer
Peter Chase
Director of Sales
Fred Marks
Director of Sales
CooperatorNews New Jersey is published quarterly by Yale Robbins Infomedia. 205 Lexington Ave., New York, NY 10016, (212) 683-5700. President: Yale Robbins, Executive Vice President: Henry Robbins. Subscriptions are available free by request to co-op and condo board members and homeowner
associations. POSTMASTER: Send address changes to CooperatorNews New Jersey, 205 Lexington Ave., New York, NY 10016. ©Yale Robbins Infomedia 2021. All rights reserved. FREE Subscriptions for Board Members, Property Managers and Real Estate Decision Makers. To Subscribe, please visit us
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TABLE OF CONTENTS
New Green Tech for the Multifamily Sector......... 1
In the beginning … there was light. And all this time later, we are finally harnessing light’s energy to power
our cities, our buildings, and our everyday devices—mostly because all of the energy sources we’ve used
until now emit incalculable amounts of carbon and other dangerous particles into the atmosphere, causing
what is now widely understood to be a global climate catastrophe.
Receiverships & Conservatorships 101 .................. . 1
Between the tragedy of the Surfside condominium collapse in Florida and the subsequent placement of the
association in receivership, as well as the flurry of recent press around popstar Britney Spears’s yearslong
struggle against her own financial and legal conservatorship situation, many may be confused—or just curi-
ous—about what exactly those terms mean, and how both an entity like a condo association and a private
individual can be in the same legal ballpark.
The ‘3 Greens’ of Landscaping:.................. . 1
In multifamily properties, different households share in the use, visual enjoyment, and enhanced property value
of landscaped outdoor elements. That means that a lot of consideration goes into deciding what and where
to plant, how to maintain it, and how much to spend on it all. These considerations can be summed up as the
‘Three Greens’: the vitality and vibrancy of lawns and other plantings—their literal greenness—the dollars that
condos and co-ops invest to design, install, and maintain these areas; and the ecological factors that determine
the best practices, placements, and products that use the least resources and have the best environmental
impacts.
Outdoor Spaces ....................8
Outdoor space, whether communal or private to individual units, has always been at the top of the most-
desired amenities list for condominium and co-op purchasers. A small terrace or balcony can add hours of
quiet enjoyment to apartment living—not to mention thousands of dollars to the value of a given unit. Recent
sales data suggest that apartments with private exterior space and buildings with common areas enabling resi-
dents to enjoy safe outdoor access during the COVID-19 pandemic are selling more quickly and at higher prices
than comparable units without those features. In many markets, single-family homes are selling at record
speed—and for record prices.
Green Options to Maximize Your Roof
............ 10
On August 9, 2021, the United Nations Intergovernmental Panel on Climate Change (IPCC) released a
scathing report detailing the indisputable impacts that human activity have made on the planet—many
of them reaching the point of irreversibility within the next generation or two.
Pulse ............. 6
Q&A .............. 7
Marketplace ............... 19
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