Defaults on condo fees rise in Manhattan

Lawyers representing condominium boards throughout the city say the number of condo owners defaulting on their monthly common charges has increased by up to 25 percent this year. They say this could be a precursor to a rise in future foreclosures. Condo boards usually negotiate with unit owners falling behind on common charges without court intervention, but more liens are being filed to begin foreclosure proceedings. In the third quarter, foreclosures in Manhattan increased 14 percent from the year-ago period.