Forum: Co-Op Related
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Our co-op could use some updates that our out of our budget (roof repairs, oil to gas conversion, painting, exterior work, etc.). The top floor, rear unit is about to go on the market and we’re considering selling the roof rights to approx. 450 sq. ft. above this apartment. I believe that a deck or single story rear, rooftop addition would fall within our zoning allowances.
A few questions:
1. Assuming that the top floor apartment sells for $300,000, is it safe to estimate that the roof rights could sell for $100,00?
2. Is it fair to assume that the buyer would make all updates to the space?
3. Would roof access affect the co-op’s insurance given that only the unit with roof rights would have access?
Thanks for your input!
Does anyone own or know anything about the Philip Howard Apartments? I have been looking at a few units in the building and would love to hear peoples opinions on it.
I own a studio in a co-op, and I have the opportunity to purchase the studio adjacent to me. I would like to execute a very simple combination: install a door to connect the two studios and remove one of the kitchens. My current studio would contain the kitchen, dining and living areas. The new studio would be used as the bedroom. Both bathrooms would remain intact.
After combing through the archives, I now have a general idea of the process. I am well aware that my maintenance would double. I already have board approval (I’m also on the board), so no need to address those topics. But I do have a few questions that I would like to throw out to the community.
1) Would this be considered an Alt-2 renovation? Would the combined apartment, or my building, become subject to current DOB handicap codes? For example, the building has a single step at our front entrance. Would that need to be converted to a ramp? What else, if anything, might need to be changed?
2) I am also considering the idea of subdividing the second studio into two rooms. The first would be a bedroom with two windows. The second room would be window-less and would serve as either a walk-in closet or office. Would this window-less room create complications when filing with the DOB or create any other issues I’m not aware of?
If I wanted to create a closet/office down the road, would I then need to hire an architect and file permits?
3) For a job like this where floor plans are not being changed, what options do I have when selecting the right professionals (architect, engineer, contractor, and/or expeditor)?
4) Would job require a change to our C of O?
I am president of brownstone co-op in Park Slope. Our basement is only accessable to members (for storage) & maintenance people by walking across our neighboring property backyard. A new neighbor has moved next door and he no longer allows us to walk across his property because our co-op have no easement agreement and for security reasons.
In addition, the original sponsor in the 1980s, blocked off the main stairwell so only the member living on the ground floor can access the basement. That member will not allow maintenance people or other members thru’ his apt to the basement. He says this access is for his use only.
Please send me any ideas on how I can resolve this situation. Is there a building code about this?
Does anyone have the contact info for Jose Gonzalez restoration?
I live in a landmarked block with beautiful green corridor that emcompasses many houses’ backyards. I just learned that the house next door was sold and the new owner is planning significant renovation, including adding an extension that will block the light in my backyard and obstruct the flow of several houses. does anyone know if I have any recourse with landmarks or DOB?
Thanks for your responses to my question earlier this week:
My co-op now aggrees that my adoption of a dog was within accordance of the co-op house rules (although it’s still regarded by some as un-neighborly). My problem now is that my co-op takes issue with my dogwalker – as a stranger with access to the building. The circumstances:
- Many members of the co-op leave their apartment doors unlocked.
- The co-op recently expressed concern with an increasing number of strangers in the building. The meeting notes state “Several owners expressed concern about the increasing number of strangers in and out of the building. Board requires that visitors be announced. Simple email should suffice.”
- Before the first visit of the dog walker, I sent out an email with a photo of the walker, a link to their website, their email address, their cell number, my cell number, that the walker will stop by Mon-Fri between 1:00-3:00pm. (the walker is a local business with a yelp page and other clients on our block)
To what extent can a co-op limit access to the building? Is there a distinction between non-residents being let in by an owner vs. possessing a key? If my dog walker is limited access to the building - must this rule extend to other service providers such as home nurses, house cleaners, etc.?
Thanks again for your advice!
My co-op’s pet policy states “The Coop will allow pets in apartments provide they do not disturb other shareholders or constitute a nuisance”. We have cats in the building. On Saturday I wrote to co-op to let them know that I was looking into adopting a “small, adult, trained, calm, quiet, hypoallergenic, non-shedding” dog. On Sunday I brought home said dog then sent out an email with a photo of the dog, the dog walkers contact info, and a photo of the walker. My downstairs neighbors (who constitute 2/4 on the board of directors) are upset that I did not ask the board’s permission before the adoption. Am I a jerk?
Thanks Brownstoner community!
We got a tire swing for my daughter but now need help hanging it! We have a very large tree in the backyard, and need someone with a tall enough ladder (or serious climbing skills) to hang it. We’ve used Urban Arborists in the past to prune our tree (40 ft tree), but since it is their busy season, they have to charge their minimum fee to send a crew. Any other ideas out there?
I am planning a coop renovation which includes a bathroom gut, a cosmetic renovation of the kitchen (including the addition of a dishwasher), plaster work, and putting in a new breaker box/updating electrical. I was under the impression that permits were not needed for renovations unless walls were moved/plumbing was significantly changed, which is not happening here. I understand that our plans need to be approved by the coop, but do I need to pull permits for this as well? We do not have an architect and our GC seems to think that permits are needed. If we do need this, recommendations for an expeditor would be welcome.
Hi- I am looking for an excellent yet affordable company to manage my small co-op. Does anyone have a company to recommend? Or, the converse, does anyone have a company that they do not recommend? Any leads and reasons why would be highly appreciated. Thanks
Anyone knows what are the current trend on home sales in Stuyvesant Heights neighborhood?
My husband and I are currently negotiating our contract with the sponsor and have run into a problem with our contingency clauses.
We have a financing contingency, protecting us if we don’t get a loan based on our financial situation and an appraisal contingency. However, the sponsor will NOT budge on a funding contingency, which would protect us if the bank declines a loan based on the building. Our loan officer says he can tell us confidently that there is a 90% chance we will get the financing. The other 10% would be due to a weak financial building or owner occupancy way below the limit. Given Citi has already reviewed the financials (and he knows they have) that will not be an issue. A family member also lives in the building and she had no problem obtaining a loan when she bought her apartment a year ago.
However, our lawyer strongly advises us against signing without the funding contingency. He says this is a standard clause that most people have in their contracts.
Any advice? Also, is it safe to assume that if the bank won’t loan to us because of the building, the sponsor will get to keep the 10% we put down at signing?
Early this am I discovered water leaking from the front of my cellar pouring down thru the electric main also located in the front of the house. I checked outside in the front of the building and there was no melting snow but out in the street located directly in front of my house there was rain and melting snow pouring down thru the open con-edison grate. I called con-edison but they do not seem concerned because I have electric power. My concern is two fold 1) how dangerous is this immediately and 2) how potentially destructive is this to electric main inside. Many years ago I and some of the surrounding houses lost power because of salt and water damage to the lines. Must I wait until I lose power and then get more immediate attention or should I call an electrician? Thanks for your help.
The title says it all really (also I Googled variations on that and couldn’t find anything, so hopefully any answers will make it easier for anyone else with this issue).
I am attempting to refinance my mortage. The co-op president (self managed buidling) is not being forthcoming with following – finanicals for the prior two years, certificate of insurance, budget and co-op questioinaire.
Her justifications are that
- I should have the financials (which is fair enough as I should, but I don’t, so I need new copies)
- The co-op doesn’t have a budget as we’re not required to (!) and that I should put something together based on some *proposal* of expenses from a meeting we had a year ago when discussing whether or not to take out a loan.
- The co-op doesn’t have a co-op questionaire, which I know to be untrue, it was required when I bought my apartment, however I never saw it. My mortage broker provided an example, but I need her to fill most of it out.
- As for the certificate of insurance, she’ll look for it when she has time, but is busy until after 4/15 with her personal work and additional co-op duties. I have offered to gather the information myself, as well as assit with the co-op duties, if she’ll point me in the right direction, but no repsonse. Every time I reach out I get a different answer.
Further complicating matters is that the Treasurer has moved out of the building to travel the world for 6 months. She is not reachable by email. The President assumed her duties so she has all of the documents and there’s no other way for me to get at them.
I’m at my wits end as I’m good to go apart from the co-op documents. This re-fi will “save” me $300pm and I’m getting nothing but pushback.
Additional complications – after 4/15 the reserve will be $0, which is a whole other issue especially since we took out a massive loan to pay for some construciton and which was supposed to leave us with a reserve (I’ll deal with this with the rest of the co-op later as it was only brought to my attention late last week). This means that after 4/15 I won’t be able to re-fi at all, because, depsite my 805 credit and low-debt-to-income ratio, no lender will take on a loan for a building with no reserve, at least not for decent rates.
What can I do? I am very worried about my refi and also that it appears that the co-op board seems to be mismanaging our finances in order to keep maintenance low. I don’t think the financial mangement is malicous in anyway, I hightly doubt anyone is living it up on the loan we took out, however it’s worrying that it was all spent without letting us know. Everyone else in the building has lived here for years and don’t want anything to change, so just keeps quiet.
This sounds more like a rant than I meant it to, but I have a lot of money (for me) tied up in my apartment. I reached out to the other people in the building, but got no response.
Do I need an attorney? I don’t understand why it has to be so difficult.
I did some research and I found out we’re supposed to be having annual meetings, minutes, budgets etc. I plan on setting all of this up going forward, as well as researching what else we need to be doing, but none of that will help me with the re-fi I’m currently attempting.