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CONTEMPLATING CONDO TERMINATIONS WITH JOHN CADDEN OF THE CONDOMINIUM ADVISORY
GROUP

Perspectives Contemplating Condo Terminations with John Cadden of the
Condominium Advisory Group


CONTEMPLATING CONDO TERMINATIONS WITH JOHN CADDEN OF THE CONDOMINIUM ADVISORY
GROUP

Donna DiMaggio Berger | 12.20.2023
Podcast | Take It to the Board

For more episodes of Take It To The Board, click here!

--------------------------------------------------------------------------------

Is your older, cash-strapped condominium or cooperative association
contemplating a termination and/or sale to a developer? The once rare ideas of a
termination and sale have now become much more common as community members
struggle to maintain, repair and insure older buildings. Host Donna DiMaggio
Berger and guest John Cadden, from the Condominium Advisory Group and co-founder
of CF Capital Holdings, discuss terminations from beginning to end and what to
expect throughout the process. They tackle the legal, financial, and
psychological aspects of termination, the impact of inflation, interest rates,
and insurance costs, and the finite lifespan of multifamily buildings.

John’s extensive experience in the commercial real estate and banking industries
provides insight into the developer’s perspective: what grabs their attention –
is it an alluring location, the flexibility of zoning codes, and/or the promise
of redevelopment possibilities? Donna and John discuss the ever-changing
dynamics of the real estate market which bring opportunities – and challenges –
including the challenges of dealing with investor owners and the need for clear
communication channels to facilitate membership approval.

Donna and John also examine the vital role of the board plays in the termination
process: should they remain neutral or passionate advocates for the deal? While
providing practical advice for managers and boards, they look at the factors
that would encourage a group of owners to consider soliciting offers. Be
prepared to come away with valuable insights to guide your journey if a possible
sale is in your future.

Conversation Highlights Include:

 * How a board can best determine the market value of their property
 * How a board can best assess an offer
 * What developers can offer to make it easier for elderly or disabled residents
   who may have to move
 * The respective roles of the board and association counsel during the
   termination process
 * What is a condominium deconversion and how common is it?
 * What market conditions favor condominiums versus rental buildings?
 * The biggest challenges associated with a condominium termination
 * Top tips for associations evaluating whether a termination and sale is right
   for them

About Take It To The Board

Think you know what community association life is all about? Think again.
Residents must obey the rules, directors must follow the law, and managers must
keep it all running smoothly. Take It To The Board explores the reality of life
in a condominium, cooperative or homeowners’ association, what’s really involved
in serving on its board, and how to maintain that ever-so-delicate balance of
being legally compliant and community spirited. Leading community association
attorney Donna DiMaggio Berger acknowledges the balancing act without losing her
sense of humor as she talks with a variety of association leaders, experts, and
vendors about the challenges and benefits of the community association
lifestyle.

If you’ve got a question, Take It To The Board with Donna DiMaggio Berger – We
Speak Condo & HOA!

Episodes are available for subscription on iTunes, Amazon Music, Spotify, or
listen through any podcast streaming app. You can also click here for the full
archive.

Tags:
Florida Community Association, Community Association

 * Careers
   * EEO Statement
   * Professional Development
   * Diversity Statement
 * Partner Sites:
   * Becker Title
   * BeckerBALLOT.com
   * CALLbp.com
   * Construction Law Authority
   * Florida Condo & HOA Law Blog
   * Florida Rising Sea
   * MyCommunitySite.com
   * Real Estate Law Blog
   * Take It To The Board
   * The Florida Opportunity Zone Advocacy
   * The New Jersey Condo Blog
 * Client Login
 * Employee Login
 * Attorney Advertising
   * Disclaimer
   * Privacy Policy
   * Sitemap
 * Contact Us

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© Becker & Poliakoff 2024

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