Relocating electric meters in coop basement?
I was thinking about asking my building (25 unit coop) if I could buy the space below my apt (I’m on the first floor). There’s nothing there EXCEPT all the electric meters/conduit/etc. Obviously, this is a big obstacle. But, I don’t know if this could be a $5k job or a $50k job… no idea….
I was thinking about asking my building (25 unit coop) if I could buy the space below my apt (I’m on the first floor). There’s nothing there EXCEPT all the electric meters/conduit/etc. Obviously, this is a big obstacle. But, I don’t know if this could be a $5k job or a $50k job… no idea. There are a ton of “ifs” in this whole equation (price of the space, permits, construction costs, building code issues, etc), but if anyone has any idea what I might be looking at, as far as moving the electric for the building, I’d appreciate it. Hell, this may not even be physically possible, or legal. But, if I’m looking at upwards of 25K just for this part, I will most likely can the idea.
For 25 meters you are definitely looking at way more than 25k….probably closer to 50k.
babs-
I’m on the board, and I know they would approve it. In situations like these, extra shares are normally offered, but it’s not necessary, especially since I don’t think you can count below-grade space in the square footage total, even if it is built-out. (I know in some other states, it’s not counted, but I have never gotten a clear answer for NYC.)
Actually, having the space below ground would bother me at all- I’m in a small minority of people who don’t care too much about windows.
But, I’m going to scrap the idea.
Not only are there physical considerations here – legally, how would the co-op handle such a purchase? Additional shares would have to be issued to cover that space, the offering plan would need to be amended, and presumably the board would have to vote on allowing this to even happen. Have you already had these discussions with the co-op board? Even before you get into the cost estimates for this, it would be good to to know if the co-op would even consider it.
Yeah, one of the issues connected with the electric meters is that the electric lines (not sure what they are called) go from each meter to the ceiling- which “would” be my ceiling, so those lines would have to be moved. It sounds like too big of a job.
Thanks for the replies.
It’s too bad, because we really like our apt, but we really need an extra room of some sort.
we thought about this a lot in our old garden floor coop… pretty expensive in a lot of ways to convert cellar space and in the end, it will only ever be a cellar. Think about the staircase in your apartment, pipes in the ceiling of your new downstairs space, engineering risks and cost if you decide to lower the basement floor, the likelihood of flooding. Better use the money to move.
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it will be way north of fifty thousand to put in 26 (25 apts plus house) new meter pans and new service switches..fuggetaboutit
ConEd would also have to be involved as well since you’d be moving the meters. Just my opinion but sounds expensive. I’d suggest seeing if you could just carve off part of the space and leave a room for folks to access the meters. Good luck!