Building behind on financials

Question: have any other units affected by the same problem sold? Are any for sale?

There is one that has been in contract since well before the pandemic.
A number of units sold in the first half of last year. There's a copy of the 2017 financials going around that didn't get formally distributed. I was just told the building hired a new accountant.

Now you know why DeBlasio threatened tougher regulations on HDFC Coops.

@30yrs
I am well aware of DeBlasio's maneuvers against us. They have literally nothing to do with the health and well-being of hdfcs. DeBlasio is interested in bankrupting hdfcs in order to sell troubled buildings to developers, among other classist and racist abuses of power.

In any case, I received news about the situation last night that has calmed me down. Though it gets too specific to post about here. And I was able to get confirmation number relating to our healthy reserves as well. The holdup is likely not that foul play is being covered up.

I personally know the board members and can vouch for them, but we also have an agreement not to talk board business. My question was about what to do in the absence of this documentation, not to analyze what it means for hdfcs.

I also wish to note that the attorney who misadvise us was in league with the city and purposely wrecked and sabotaged many of our undertakings and attempted to manipulate us. They mired us in unnecessary bureaucratic messes and attempted to intimidate us many times. They are the problem, not the solution. We are thankfully no longer under most of the regulation. If they attempt to change the law, I highly doubt they will succeed.

I have come across this situation more than a few times. While there are banks that will work with you- until the financials are straightened out, many banks will not want to finance, so cash buyers are king. I do know of an attorney that advises HDFC's that appears to be corrupt- and I would be happy to see this attorney out of the business. Not sure what you are seeking on this board, but it sounds like your managing agent is working to resolve at this stage.

Uptown Specialist, thank you for your response.
Yes - I think it is resolved now. I posted in the panic stage, before I had information.