New Board (consisting of I believe 3 new members), at its first meeting, recently turned down two applications without even an interview

That's good. It means they're not jerking potential buyers around by interviewing them when their finances aren't good enough.

You might want to re-post at http://streeteasy.com/nyc/talk/new_discussion?discussion%5Bcategory_id%5D=3007&discussion%5Btitle%5D=building+at+25+Indian+Road&foreign_id=44360&model_name=Building so it'll be lined to the building.