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Problem Solved! For Co-ops and CondosAuthor: Habitat Magazine
From building repairs and maintenance, energy upgrades, insurance, lobby redesigns, accounting and financing - the challenges facing co-op and condominium board directors are endless. In this series, Habitat Magazine editors interview New York City experts to learn how problems have been solved at their client co-op and condo buildings. We take a deep dive into the issues being confronted, the possibilities for solutions, the costs, the challenges, and the outcomes. Habitat Magazine, founded in 1982, is the trusted resource for New York City co-ops and condo board directors. Visit us at www.habitatmag.com Language: en Genres: Business, Education, How To Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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How a $38,000 Upgrade Paid for Itself in a Year
Episode 10
Monday, 3 August, 2026
Insurance costs have become one of the biggest headaches for New York co-op and condo boards, and umbrella policies are feeling the squeeze hardest. Sophie Bird, senior vice president at IMA Corp., explains why boards today are buying a fraction of the coverage they once did, and what's driving the market to shrink this way. She also reveals a lesser-known path some buildings are using to secure far more protection for far less money, though it comes with strict conditions most people wouldn't expect insurance to care about. Bird shares a real example of a building that made one targeted investment and saw dramatic savings within a year, along with practical advice on the everyday factors that can quietly disqualify a building from the best options. Habitat's Carol Ott conducts the interview.Thanks for listening. Subscribe to this podcast for more stories on how New York co-ops and condos have solved a myriad of problems. Brought to you by Habitat Magazine, the "bible" that hundreds of board directors turn to every day!
