Most members of condominium and co-op boards in New York are volunteers. They are doing the job because they want to be involved and work for the betterment of the residential development in which they live. The tangible benefits of condo and co-op board membership are few or nonexistent, and perils exist. One of these perils is the potential for conflicts of interest. The mere perception of a conflict of interest can undermine the credibility of the entire board. In some cases, a conflict can land a board member in serious legal trouble.
As New York's population continues to grow, desirable sites for residential development are at a premium. Inevitably, sites that were considered less than ideal a few years ago are now being developed for upscale apartment buildings. Among those sites are mid-block locations on Manhattan's busy crosstown thoroughfares.