AboutMark Shemel Expertise I believe I can answer questions in the following sub categories with respect to New York City: Residential Brokerage, Landlord Tenant disputes, Any type of lease questions, any definition pertaining to residential real estate, any questions about property management, most questions about development, construction codes, and housing laws, questions about Section 8, HPD and government sponsored housing. Also corporate and short term housing questions.
Experience I am currently the President of Think Properties NYC, a residential brokerage firm in New York City. I am also President of National Property Management Group. We manage over 1000 Residential Units and 50 retail/commercial units, generally as tax payers or part of mixed use buildings. We handle project management, marketing, and rentals/sales of new construction properties as well.
Organizations The Real Estate Board of New York (REBNY), Boutique Brokerage Firm Alliance (President)
Publications New York Times, Real Estate Weekly, Wikipedia, Wiki-answers
Education/Credentials Undergrad: Union College
Degree: Bachelors Degree, Double Major Economics/French
Graduate: New York University
Degree: Masters of Science, Masters in Real Estate Development
Licensed Real Estate Broker in State of New York
Awards and Honors Undergrad: Phi Beta Kappa, National Honor Society, Magna Cum Laude
Past/Present Clients Oakwood Worldwide, JP Morgan Chase (for Relocation), and several other firms.
Question QUESTION: Hi. I recently asked you some questions regarding the purchasing and approval process for condos in Manhattan. You mentioned that it's fairly easy and quick, but if there is a real reason for the board to not want the buyer in the building they will pitch in to buy the apartment. My question is, what if the apartment is a few million dollars, or even one million? I mean, do residents usually have that kind of money available to them to pitch in on an expensive place like that? Thanks
ANSWER: Usually, if there are enough apartments in the building, the unit owners could afford it. But like I said before, it is highly unlikely that this course of action would be pursued. The assessment alone spread out over a year, paid out monthly by the unit owners, might double their common charges. Because board members want to keep their position and are interested in retaining value of the units of the building, they will not do this unless they absolutely have to. No one re-elects a board that doubles their expenses on the building. Also, people won't want to buy apartments in the building if they find that there is a history of this type of rejection. I think that if you decide to purchase condominium, you will find that while they may ask for a lot, you are likely to get approved. Let me know if you need anything else.
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QUESTION: If someone wants to do a gut renovation of their condo(maybe a pre-war condo), is that something that a condo board usually approves easily?
ANSWER: Hi Danielle,
Usually it is ok to do renovations in a prewar condominium. However, you should check with the bylaws of the condominium as well as a building manager to get an idea of what is possible. Some buildings cannot structurally support certain changes like HVAC, or removal of certain walls. It is also difficult to change the location of kitchens or add additional bathrooms. Your best bet is to ask what you can do before deciding on what types of renovations to do.
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QUESTION: But, is it ever possible to move kitchens and bathrooms when renovating? Or, is it just impossible?
Answer It is completely possible. In order to move kitchens and bathrooms you need to shut the building water off for specified periods during certain days of your construction. The contractor and the architect will work together to devise a plan that reroutes the water without affecting its supply to other units in the building. I was just telling you must check to see if it is possible. Some buildings are not built for this. You must check with an architect or a contractor first.
