MainPie3588 t1_iu2dwgq wrote on October 28, 2022 at 1:16 AM

I am in this field & I will tell you straight up, your lawyer and/or broker played you. Neither did their due diligence- a custom questionnaire would’ve saved you tons of headaches. A request for the meeting minutes would’ve shed light on the fact that the Board hasn’t met…no excuse as we conduct meetings via Zoom. Also if that façade needs a lot of work sounds like the Board skipped on previous Local Law 11 work.

1-Who is the management company? They are required to put you in touch with the Board. 2-Try to find out who your building retained to do the Local Law 11 assessment. They should be able to provide the facade report. 3-Get in touch with other residents to see what the overall vibe of the board is. 4-Also your Board is breaching the By Laws as they are required to hold meetings…including an annual meeting of shareholders.

pasteldefresa OP t1_iu2e89k wrote on October 28, 2022 at 1:18 AM

This is very thorough and good advice. Thank you. And yes I had the suspicion that my lawyer totally played me and did the absolute bare minimum but that’s another story.

MainPie3588 t1_iu2ir14 wrote on October 28, 2022 at 1:53 AM

Oh find out the CPA firm that does your buildings financials & speak with them also, that way you can get the info you want on the buildings financials/history. Also try to find out how much of this assessment is being footed by residents that will be a telltale sign of your buildings reserves.