In the inaugural episode of Expert Insights, Michael Wolfe is joined by Jane Menton, Geoff Mazel, and Stuart Saft to discuss the latest legislative and regulatory issues affecting New York’s co-op and condominium communities.

The conversation begins with New York State’s CLCPA climate mandate and New York City’s Local Law 97. The panel discusses changes to the state’s 2030 renewable energy targets, how those changes relate to Local Law 97, and what co-op and condo boards should be doing now to prepare for current and future emissions requirements.

The discussion then turns to recent legislation affecting co-op purchase applications, including the new 15-day timeline for determining whether an application is complete and the registered mail requirement that creates additional administrative work for boards and managing agents.

The panel also provides an update on the new J-51R program and its potential benefits for co-ops undertaking qualifying capital improvements before taking an in-depth look at the new pied-à-terre tax. They discuss how the tax is calculated, concerns about its application to co-ops and condos, unanswered questions surrounding implementation, and the steps boards and managing agents may need to consider as the law takes effect.

For co-op and condo board members, managing agents, attorneys, homeowners, and industry professionals, this episode provides a practical overview of some of the most important legislative and regulatory developments currently facing New York’s co-op and condominium communities.