Penmark Property Advisors, LLC

 

Every operating condominium or cooperative needs an annual budget. As former President of a major New York property management company, I was intimately involved with the Board's annual preparation and passage of hundreds of annual budgets. In addition, I am frequently engaged to evaluate budget issues for buildings that I am not currently managing.

Our firm works and advises on many important aspects of the Schedule B with the sponsor or developer. Some examples are:

• Staff Size
• Salaries
• Whether there will be prevailing wage in the building so as to qualify for the coop/condo abatement
• Services and Supplies
• Utility costs
• Insurance