Inside Third + Bond: The First Owner’s Meeting


This is one of the last updates the Third + Bond bloggers will have for us.
Every condominium offering plan requires the Sponsor to schedule the first annual owner’s meeting at some point after the first closing to elect a condo board and review the issues of the building. In the good old days when prices were high in a seller’s market, buyers felt taken advantage of, the annual meeting was their first cathartic opportunity to rant and rave at the Sponsor for all sorts of indignities. We’ve had stressful first meetings and we’re-all-drinking-the-kool-aid first meetings. As we prepared for the Third + Bond owner’s meeting, we wondered, would they come bearing gifts of thanks for their beautiful homes? Would they come with pitchforks, angry that a light switch didn’t work?

We held the meeting in our largest unsold unit, thinking that you can’t beat it for location. The open living room/kitchen/foyer was perfect for fitting the 40 or so people in attendance. Over half of the units sent a representative. We’ll see what attendance is like a few years from now… and we’ll see how well the occupants like each other!

We started the meeting with the President of Lisa Management giving an introduction to the agenda, his staff, and his thoughts on the peculiarities of starting up a new building. For example: We’ve had some problems with doors that don’t shut well or shut too hard and he pointed out that these problems were unlikely to come to light before owners move in and actually use the doors day in and day out. Construction workers just prop doors open so they aren’t truly tested. It was true and well said, but did it come off as an excuse? There were no comments from the owners.

Next up, Hudson (that’s us) said a few words about how, as per the condo plan, we are sticking around both on the board and through our management company to help see the building through the transition of spanking new to gradually lived in.

Then we had the four nominees for the board – two seats to be filled by residents, three are held by Hudson – give a brief candidate’s speech. We selected election inspectors, voted, counted ballots and shared the results: it so happens that the elected persons unofficially started representing Third + Bond at some point earlier, having been written about in the news or blog about their experience as owners.

Next up we talked about committees and building issues. Two areas of interest took form through the conversation: a desire for bike storage or bike racks and a quest to improve the trash/recycling system. We added a third committee, green building, to monitor and explore how to keep the building green.

There was strong support for better bike storage. Currently, bike owners have the option of storing bikes inside their apartments or locking them up outside to a fence or post. We brainstormed ideas about off-site storage in nearby parking lots and getting bike racks installed on the sidewalk where there was not long ago a bus stop.

Trash and recycling was an item of considerable passion. Each building (typically 7-9 adult occupants) has 3 devoted cans in a brick enclosure in front of the building. Some of the residents don’t think there is enough storage even with trash pick-up twice a week and recycling once. During move-ins we store the mounds of cardboard boxes in the cellar rather than utilizing the regular bins as to not overwhelm them. The porter moves the trash and recycling around from full bins to less full bins between pickups. Still, the system is imperfect. Solutions? Ask owners to bring their trash to the curb before pickup rather than stowing it midweek in the bin? Build another bin? Produce less trash? We wait with bated breath for the committee’s recommendations.

And, finally, the green building committee. This one was our idea because we wanted a way for the LEED-Platinum and (anticipated) EnergyStar labels to continue to have meaning. Their agenda might include watching over the cleaning products, procuring wind power for common areas, etc.

Fortunately, there was no suggestion of a pitchfork committee.

As condo developers, we look forward to a time when we’ll merely point at the building in passing rather than managing callbacks for doors and the like. In the meantime, we are available to the 60 human occupants. The seven dogs, four birds and two cats are on their own.

Facebook: Third + Bond Twitter: Thirdbond

www.thirdandbond.com
Our legal fine print: The complete offering terms are in an Offering Plan available from Sponsor. File No. CD080490. Sponsor: Hudson Third LLC, 826 Broadway, New York, NY 10003.

12 Comment

  • Neighbors must love you. Your bitching publicly (and writing which resembles an 8th grade book report) on the issues in the building is certainly not going to help increase the value of these condos. Not to mention the fact that anyone with half a brain would realize it’s just plain bad etiquette. Nomination for over share of the year.

  • pipe down suckah’ … don’t like it? ok, then no need to read it and “share” your own cranky review.

  • pipe down suckah’ … don’t like it? ok, then no need to read it and “share” your own cranky review.

  • Anyone who buys in new construction either knows, or quickly learns that things will need to be ironed out before a building runs smoothly. Not enough bike storage, very common; forming committees to address problems, again very common. I didn’t see anything in this report that would raise a red flag about this project. In fact, the fact that this developer is open and somewhat transparent is a welcome change from most developers who don’t communicate openly about the issues that affect new construction residents. Further, since the whole goal of this blog (aside from Marketing) has been to document the process of designing, building, and selling new construction units, this post seems completely appropriate.

  • Anyone who buys in new construction either knows, or quickly learns that things will need to be ironed out before a building runs smoothly. Not enough bike storage, very common; forming committees to address problems, again very common. I didn’t see anything in this report that would raise a red flag about this project. In fact, the fact that this developer is open and somewhat transparent is a welcome change from most developers who don’t communicate openly about the issues that affect new construction residents. Further, since the whole goal of this blog (aside from Marketing) has been to document the process of designing, building, and selling new construction units, this post seems completely appropriate.

  • These buildings are actually very pretty from the outside and seem to fit in with the surrounding neighborhood, however, looking at all the floor plans, they are extremely small.

    Then to have the nerve to combine the kitchen and living space, but not even make it like a room and a half, but really just a living room with a kitchen thrown in the corner, was pretty bad. Some open concept that is…..

    The open concept works when the room is somewhat large, not a regular room providing 2 functions……
    That is just telling me the builder is being cheep.

  • These buildings are actually very pretty from the outside and seem to fit in with the surrounding neighborhood, however, looking at all the floor plans, they are extremely small.

    Then to have the nerve to combine the kitchen and living space, but not even make it like a room and a half, but really just a living room with a kitchen thrown in the corner, was pretty bad. Some open concept that is…..

    The open concept works when the room is somewhat large, not a regular room providing 2 functions……
    That is just telling me the builder is being cheep.

  • You posters realize that this is the latest is a series of “over-sharings” – Brownstoners own little reality show? Its a little late to suggest they should be more discrete. Like 3 years too late.

  • I love these buildings. The apartments are really nice. I, for one, like the open layouts of the kitchens; no they are not huge lofts, but they also don’t have the price tag of huge lofts. The two-bedroom units are very smartly laid out, so they feel larger and are quite comfortable. I love the variety of outdoor spaces, the generally high quality of construction, and the fact the buildings don’t have any unnecessary amenities; just good quality basics. We are thrilled to have our place at Third & Bond, and, yes, one of the top reasons we bought the place was the fact that we were allowed to follow the ups and downs of the development process on this blog. (And, we have seen dozens and dozens of other newly constructed Brooklyn condos, and most of them (in the similar price range) don’t even come close in overall quality.)
    I do have to say that some of this last post does read like a bit of a cover-up. Why even bother with that? 1.) The door issues have been going on for months and the developer has been working on finding the proper long-term resolution. From what we have seen, it seems that they are finally on to something. There was nothing really to talk about at the meeting, as far as this issue. 2.) The issues with inadequate garbage and recycling storage also became evident many months ago. New ideas are always welcome, but it’s pretty clear that we just need a bit more space, and we have room for it too. The Bond St. buildings have only been allotted 3 cans for both (12, 13 apartments?), the other side of the trash shelter is used by the management to store overflow. 3 cans even for 7-9 adults is not enough, but then we have children, guests and pets, who often generate more trash than the aforementioned adults. We heard that one of the solutions being considered is to use square cans, instead of round, which would add a couple of inches of extra space – that’s just funny! Each building needs at least 2 cans for trash and 1 for each type of recycling. The buildings are not even fully occupied, but the trash is usually completely full within 24 hours of collection. And the idea of having the residents bring down their own large size paper recycling on the proper evenings is very good, leaving the cans for the smaller daily paper stuffs (junk mail, menus, etc.). There’s no room in the apartments to store garbage and metal and glass, so all that really needs to go out at various times during the week. (“We wait with bated breath for the committee’s recommendations.” – reads like a bitchy, sarcastic response, guys, good one!) 3.) Bike storage – great idea. We have applied for racks from the city and should hear by next Spring. The more the better. It’s such a joy to see all the bikes locked up to the fences on Third St., so civilized! Locking bikes to trees is not civilized though, that’s one of the most common causes of premature tree deaths in NYC. Unfortunately, there have been a few bike thefts and attempted thefts, but that’s the chance you take anywhere in the city. There are paid bike parking spots in the gated parking lot on bong, and they have room to put in more, if there’s a demand. Perhaps leasing one of the unsold and undeveloped lots nearby is not a bad idea. A new one recently opened up for rent right off the corner of Hoyt and Third, next to the cute little gallery. Or we should just all use two locks of the best quality. 4.) The green committee is a great idea, it should incorporate recycling efforts too though. Currently a lot of unrecyclable stuff is being sent out with our recycling every week (all sorts of plastic, etc.). 5.) The developers sticking around to resolve issues is wonderful. Again, it shows their commitment and willingness to admit and correct the various pretty minor mistakes made in the generally wonderful building.
    We are not 100% satisfied, no, but we never expected to be either. We are about 93% satisfied. The improvements made so far have been successful and very appreciated. There’s just a little left. Keep up the good work. Now go fix the doors, the trash areas and whatever else is left on the plate! ;-)

  • I love these buildings. The apartments are really nice. I, for one, like the open layouts of the kitchens; no they are not huge lofts, but they also don’t have the price tag of huge lofts. The two-bedroom units are very smartly laid out, so they feel larger and are quite comfortable. I love the variety of outdoor spaces, the generally high quality of construction, and the fact the buildings don’t have any unnecessary amenities; just good quality basics. We are thrilled to have our place at Third & Bond, and, yes, one of the top reasons we bought the place was the fact that we were allowed to follow the ups and downs of the development process on this blog. (And, we have seen dozens and dozens of other newly constructed Brooklyn condos, and most of them (in the similar price range) don’t even come close in overall quality.)
    I do have to say that some of this last post does read like a bit of a cover-up. Why even bother with that? 1.) The door issues have been going on for months and the developer has been working on finding the proper long-term resolution. From what we have seen, it seems that they are finally on to something. There was nothing really to talk about at the meeting, as far as this issue. 2.) The issues with inadequate garbage and recycling storage also became evident many months ago. New ideas are always welcome, but it’s pretty clear that we just need a bit more space, and we have room for it too. The Bond St. buildings have only been allotted 3 cans for both (12, 13 apartments?), the other side of the trash shelter is used by the management to store overflow. 3 cans even for 7-9 adults is not enough, but then we have children, guests and pets, who often generate more trash than the aforementioned adults. We heard that one of the solutions being considered is to use square cans, instead of round, which would add a couple of inches of extra space – that’s just funny! Each building needs at least 2 cans for trash and 1 for each type of recycling. The buildings are not even fully occupied, but the trash is usually completely full within 24 hours of collection. And the idea of having the residents bring down their own large size paper recycling on the proper evenings is very good, leaving the cans for the smaller daily paper stuffs (junk mail, menus, etc.). There’s no room in the apartments to store garbage and metal and glass, so all that really needs to go out at various times during the week. (“We wait with bated breath for the committee’s recommendations.” – reads like a bitchy, sarcastic response, guys, good one!) 3.) Bike storage – great idea. We have applied for racks from the city and should hear by next Spring. The more the better. It’s such a joy to see all the bikes locked up to the fences on Third St., so civilized! Locking bikes to trees is not civilized though, that’s one of the most common causes of premature tree deaths in NYC. Unfortunately, there have been a few bike thefts and attempted thefts, but that’s the chance you take anywhere in the city. There are paid bike parking spots in the gated parking lot on bong, and they have room to put in more, if there’s a demand. Perhaps leasing one of the unsold and undeveloped lots nearby is not a bad idea. A new one recently opened up for rent right off the corner of Hoyt and Third, next to the cute little gallery. Or we should just all use two locks of the best quality. 4.) The green committee is a great idea, it should incorporate recycling efforts too though. Currently a lot of unrecyclable stuff is being sent out with our recycling every week (all sorts of plastic, etc.). 5.) The developers sticking around to resolve issues is wonderful. Again, it shows their commitment and willingness to admit and correct the various pretty minor mistakes made in the generally wonderful building.
    We are not 100% satisfied, no, but we never expected to be either. We are about 93% satisfied. The improvements made so far have been successful and very appreciated. There’s just a little left. Keep up the good work. Now go fix the doors, the trash areas and whatever else is left on the plate! ;-)