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Anybody care to share opinions about the board? Thank you.
Use you head for something other than a hat rack! Low ceilings, cookie-cutter layouts, tacky kitchens, crumby bathrooms with tiny tubs (no therapeutic soaks here) -- and you want to know why they are cheap??? Its because they ARE cheap........................
I ended up moving in and I've not noticed it. My guess is they try to avoid 9th ave (traffic), but not sure.
Anyone know whether the hospital being so nearby is a problem (ambulance sirens at night)? Thanks much.
Prices seem really too reasonable for the location (same block as the Mandarin, Time Warner). Are the lobby and hallways well kept? Are renovations restrictive?
HALLWAYS: I always put long, thick runners in the hallways because they get the most traffic.
I remember there being a dispute in a place I lived in because the children were using the hallways in the apartment as a play area, especially a nuisance when they rode their plastic wheeled trikes. This turned into an ugly, long running dispute because they had the other rooms carpeted 80%. This made no sense because the building had a play room with tons of trikes in all sizes the children could have used.
But what the hell do I know, I live in San Francisco, a much more civilized city than Manhattan, where everyone seems to feel that they are the only person in the universe. We don't need those rules because we automatically know that if you live in a building with other people, you either cover your floors with carpets or discretely remove your shoes upon entering your apartment. Of course, New Yorkers don't have the common courtesy to act accordingly; thus the need for your silly rules. Good luck.
Almost EVERY building has those "rules." They are enforced only to the extent that someone complains. If someone loves their hard floors, they will/should attempt to be quiet to the extent that their noise does not impact upon their neighbors. For example, London Terrace has those rules, and I have seen probably 150 apartments in that complex over the past ten years, and not one of those apartments had carpeting -- all hard floors, and even advertised as such. If you make noise that bothers your upstairs (or downstairs or sideways) neighbors, you will (in a well-managed building), be asked to cover your floors. If your hallway happens to be above someone's bedroom, you will most certainly (in a good building) be told to cover the floors or be subject to substantial fines.
The rule in my building says "the floors of each apartment must be covered with rugs or carpeting to the extent of at least 80% of the floor area of each room, excepting only kitchens, bathrooms, closets, and pantries."
I assume this means the entire floor area, not just the floor area not already covered by furniture. Is this correct?
Also, anyone know if hallways are in general covered by the 80% rule?
whats the demographic of the building.
whats the demographic of the neighborhood.
neither of which they can answer really but they can direct you to someone or someplace that will answer.
1 - What kind of apartment / building?
2 - What price point?
3 - What neighborhood?
4 - How long is the lease?
....with a licensed salesperson
Any tips - insights would be helpful. First NYC lease. My experience is signing directly with the property owner.
but as you have stated before: not every person "who does business with (that guy), with all the information already publicly available via previously filed litigations ..."
In the case of there being no previously filed litigation, due to the circumstances I described in my comment:
A person(s) is then caught in the web of deceit and must either fight (or not having the resources/time/ money /willing to engage in the good fight) , must cut and run.
The ( board/Sponsor) will engage an owner/resident, by way of a systematic attack and they will burden the courts with it. There is no other way for the innocent to escape, except to either fight or run.
If the victim runs, there is no justice in case-law to prevent the same, from victimizing those who can't/won't fight and the circle remains unbroken. Not everybody is careless under those circumstances.
A renter can pack-up and get out of there. An owner is not in the same position.
The court doesn't care about what comments are posted here. Each victim is on their own, with the onus of providing evidence to the court. That fight is expensive and very few are willing to break that circle which burdens the court system.
@Edwinnyc - Filing one more complaint against that guy wouldn't have done anything; anyone who does business with him with all the information that is already publicly available via previously filed litigations deserves whatever they get, and yes, that includes me. We all know to wear our seatbelts, but sometimes we don't, and if we sustain an injury that could have been avoided through basic care, my personal feeling is that it is best not to burden the courts with it. Were I not an attorney, I might be a more sympathetic "victim," but given my background, I am not a victim, but rather an individual who was careless.
Even nicer for the very few who are willing to take the time, effort and spend tens/hundreds of thousands of their own dollars to put relevant information out there by way of actually taking legal action and/or responding to unlawful actions.
The sponsor is on the board and the board is controlled by the sponsor.
Talk is cheap. Defending your rights in court is expensive and although it usually doesn't result in being compensated for legal fees in return nor any personal enrichment, it does result in changing the course of the unlawful procedures/ status quo, for the benefit of the shareholders/owners/residents who still are involved in the building after you have moved on.
@fc - hmm, I see your point. But, on other notes, I cringe for each broker posting trying to rehabilitate a certain building on east 51st street. The post that most recently claims the sponsor (Sponsor) lives in the building is partially correct, or at least was when I rented there in 2011 - he was there enough to terrify the staff, but, as far as his legally residing there? Well, let's just say I have a copy of a deposition from one of the many litigations in which he was involved last time I checked (in 2012) wherein he is quite squirrelly about his legal residence. In that deposition he claims to live in Florida, and when pressed, he starts saying something about New York State and his intention to spend at least 180 days in Florida in 2012, as he "possibly" did in 2011, before his attorney interrupts and the parties go off the record. Does not take a genius to figure out whether someone is trying to avoid New York taxes. I thought you might appreciate that tidbit. The fact that the brokers are trying so hard to sell the building makes me think that the market may have finally caught up with the guy. In any event, I can sleep at night knowing that I have put relevant information out there for anyone who comes to Streeteasy looking for information on the building. If others who have positive experiences with the building want to post, good for them; I am happy for anyone who has had a positive experience there or anywhere else.
Come back in about 24 hours and reread your posts.
@Riccardo - I was initially confused by the question, but the more I thought about it, it actually makes some sense coming from an appraiser. Appraising coops in some of these buildings had got to be a challenge because comps are few and far between, and trying to figure out what can even be considered a comp is a challenge in and of itself. Why not ask the question any and everywhere and factor in source of whatever response comes in evaluating all gathered information. Wouldn't it be wonderful if somebody actually gave the inside scoop on some of these buildings on Streeteasy?
If you have to question passing board, then you would NEVER, even remotely, be able to pass 720, 730 or 740 Park. "If you have to ask the price, then you probably can't afford it." For someone who is supposed to be an appraiser familiar with New York real estate, you are most certainly a moron. Sorry, it's a fact.
So, I asked a question like this when I was new to NY; this question is truly puzzling coming from someone who has been on SE since 2007 and is self-identified as an appraiser. Each of these buildings is its own market.
Is there so much inventory that you´re basing the decision on the building rather than the unit? There's so little on the market right now that I would think it's easier to choose the unit.
What are your requirements (beds, EIK, location) and price range? Can you pass these boards?
Very common compared to 720, 730 or 740 Park. If you can afford these, why not go for the best????
FYI: The PDF is for the listing agent/broker to review. The managing agent receives copies or what ever format they request. I hear you on the electronic portal, sort of cumbersome uploading all the documents. We wind up spending a lot of time with the buyers, sellers and other agent (if they have not done it before). If the docs are not entered correctly it wont allow you to continue. If the seller has not entered their information correctly it prevents us from entering ours. Far from perfect.
let's see, RED -- I had a client who had recently retired, so in the application, in addition to providing historical financials, and supplementing documentation for those, we provided a pro forma financial for what retirement income would look like, and supplementary documentation for that. I had another client who had a reference letter that was provided on letterhead from a referrer who had since changed her phone number, so I had to annotate that. I had another time where the Aztechs had to get reprocessed since the middle name of the purchaser had been omitted, and the legal name didn't match the driver's license. I represented a landlord who used his co-op sublet application, but we swapped out the boilerplate lease offered by the co-op for our own lease, and then both sides kept adding riders at the last minute.
Those are all examples I can think of from the past couple of months. None of these were $5 million deals, just everyday business in neighborhoods from Chelsea to Midtown to Hudson Heights, but each one needed that little bit of customization to get across the finish line.
Thanks for all of the comments. In regards to substituting documents, where (which sections/types of documents) do you generally see this? I assumed most applicants would be following the board application as requested rather than making their own edits.
I'm going to say "thumbs down" on electronic applications, because they don't allow for any variability. It's one thing (and fine) for a board to want a completed application scanned and submitted as a PDF, or -- the way Keith B. does it -- assembled in Acrobat Pro and then submitted as a PDF. If the management company wants to see the package on a thumb drive, no problem. But to ask for an application through a portal that goes document by document deprives applicants of the art of assembling a board package -- substituting documents, making highlights, and writing notes to guide the board through an application that can be 300 pages long. It's a disservice to any buyer who isn't cookie-cutter perfect.
The current electronic portals can be pretty confusing, though I think a step in the right direction. We have completed a number of them. We use ADOBE PRO to securely, efficiently process "paper" board applications. Digitize all documents and make them writable, use passwords when sending completed pdfs and sensitive docs. Essentially We Prepare The Entire package, Then Meet the clients to get signatures. Once you have a system in place it's not that difficult.
The Burkhardt Group
Not further than 2.5 hours from NYC. Prefer lake access, good restaurants, homeowners association, hip nyc types, spend up to 600K....Any ideas of where to look?
In my old RS tenement, hot water was included in the rent but heat wasn't. Landlord only had to provide a means of heating (space heaters with chimneys to the old fireplaces) but tenant paid for fuel. That's why the RS rent-increase amounts are different depending on who pays for heat.
Or it could be that the wall units are supplied with heated water or steam by the building, the cost of which is in your CCs. Then the tenant's electric bill would cover only the cost of running the fan in the wall unit.
Then there're buildings where every apartment has its own water heater. too, so the tenant pays for that as well. In every case the lease has to be modified to fit the apartment's utility situation and is clear about who pays for what.
You agreed to provide a heated apartment, so will have to cover that part of the ConEd bill attributable to the electric heat. I don't know how you'd divvy it among heat, AC, and the rest.
Why is the electric not in their name?
I have a tenant who signed an universal lease. The following utilities are included in the rent- heat , hot water, gas. Apartment has a wall units in every room for ac/heat. tenant is refusing to pay electric bills.Please advise
Kalahari and Adeline on 116th str is much better location for the same money
Planning to buy a 2 BR condo in 5th On The Park. Any inputs? Thanks
The penthouse was recently sold to a investor and tried to rent it out. Meanwhile it was already overpriced and they tried to get $15,000 per month for it- As you can see it keep coming and going of the rental market. Not A Good Investment!
"@jonathano look at the penthouse apartment- im not sure about any other 4 br in this building beside the penthouse but its priced at $5,950,000"
The PPSF of the Penthouse is TOTALLY out of whack with the PPSF of any other units - including ones on the same floor or just below. Yet the finishes are EXACTLY the same. It would be cheaper to buy two or three units and combine them then to get the penthouse - and a few units have terraces as big or bigger than the Penthouse and are on as-high floors.
"I'd be curious to know what kind of discount a cash offer gets in the building for a 2 or 3 BR. anyone know from experience? thanks much"
Very little discount. 15K, a 2 bedroom (with a very wishful suare footage) just sold for almost $900,000.
Maybe the hot FDB real estate market is spreading east.
Were you able to get any info on the planned capital improvements? I'd be interested to find out what they are too. Thanks!
Anyone have any insight on the planned capital improvements at Hudson View Gardens? They seem pretty substantial so wondering what the impact would be in terms of assessments or maintenance increases.
And that has nothing to do with you.
gothamsboro...huh? No not me the seller the broker owes it to his/her buyer to show them every apt available.
excellent DanDigs. Unfortunately you are the exception. I salute your efforts and wish you all the best on your business model.
@SteveF. I don't hide FSBOs from my clients b/c, like KeithB said, every buyer has the same alerts sending listings to their inbox, so they're going to see them. I have also sent clients to FSBOs in the past b/c it made sense for my client (and am actually sending one this weekend). It's about taking the long view with a client relationship, and because my business model allows me the flexibility to take a lower commission than conventional brokers, owners have generally been willing to work with me.
steveF, you talk as if the broker representing the buyer actually owes you, the FSBO seller, a duty. He doesn't.
Wow! In an industry dominated by imbeciles, this agent is truly a special kind of stupid. Bizzarro capitalization being the very least of it.
Or maybe this thread was meant to be charmingly self-deprecating?
That was disrespectful - you were supposed to capitalize Sponsor when you posted. You better be more mindful of who is paying you.
From the minute you walk in the building,you feel special and will be well-cared for. The building is kept up and the sponsor himself lives in the building. The apartments are grand and spacious and most have fabulous views. There are so many different floorplans available which makes it more special. From the Doorman,Concierge and Super, they only want to please you and your family. As a broker,I see many buildings in the city. The Beekman Regent is always a pleasure to show in.. so I felt I had to write this.
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Hi , I have been trying relentlessly to get my listing on Streeteasy, it still keeps saying inactive and no way to activate it. Can someone please let me know what to do to have it go LIVE right away? THanks
How do you feel about your behavior in this situation?
We are looking for an apartment to buy in Manhattan area. We started working with one agent and saw few apartments with her. However, we realized that she is not very much aware of coop buying process in NYC area. So, we found another agent who is more experienced to handle our situation. Can we put an offer through this new agent for the apartments seen with the first agent??
We didn't sign any contract with the first agent. So, is there is any law prohibiting us from going ahead with the new agent for our purchase of apartments seen earlier??
Will the first agent be entitled to any commission by law in this situation??
I agree with Keith B 100%. I have done quite a bit of work and research on this as well.
GARG Real Estate.
Gothamsboro: In New York, unauthorized practice of law is a good way to lose a real estate license. That's why you see the "consult your attorney" disclaimer on everything that might be construed as legal advice.
I'm not sure why real estate professionals are always giving advice about when to consult your accountant or when to consult your lawyer. Are they really qualified to tell you when to consult someone? Are they getting kickbacks from accountants and lawyers?
I think they should just tell people what they know, what they don't know, and offer context of their qualifications about what they do know.
nychomeowner, make your own choice if you run this by your accountant.
thanks everyone for your responses. happy to hear the rebate should be seen as a reduction in basis. of course, i will run this past my accountant as well.
Yes Dan. We also give our clients a signed letter and of course the check from my company is clearly marked as a commission rebate. The IRS has also ruled on an individual case that was brought by REDFIN Realty, of course that was for that particular buyer, however it does give an indication of their position.
The Burkhardt Group
Is this structure necessarily a "net listing"? Based on a quick Google search, a net listing is defined as "An arrangement in which a property owner pays the listing real estate agent all purchase price proceeds over and above a minimum figure required by the owner. " The structure above would not pay all proceeds above a minimum amount, but rather a higher fee (as a percentage) which ratchets up at various pre-specified thresholds. I'm not a lawyer so I could be mistaken in my interpretation.
NYCNovice, I'm fine with it. It's meant to protect the unsavvy consumer, who may not be aware of the true value of their property, against predatory agents
Thank you fore reply JMHunt. Sheer curiosity: As an agent, how do you feel about its being illegal?
@NYCNovice: Illegal under under Department of State Licensing Law. It's called a Net Listing and it's illegal.
Illegal under what statute? I don't know anything about this area of law and only vaguely recall Justice Department's attempt to challenge anticompetitive practices in real estate. Were I an agent, I would be very frustrated if I could not negotiate whatever fee structure the market would bear.
The building is improving, but that is a bad thing as far as you are concerned?
And is it the fault of the building that there are "outside building sites"?
not much for a quiet enjoyment of your apartment in this building. There is constant construction noise from outside building sites as well as from apartments within the building. There is extensive renovation going on and will last for very long time. this is probably due to the majority of the units being sold these days.
My friend chose to put sheetrock over popcorn too, and it turned out to be much cheaper and easier. Like raddoc said there could be minor loss of ceiling height depending on sheetock thickness and whether furring strips are needed (on concrete ceilings). Also there will be a risk of sagging
Raddoc, that's so informative... Knowing that only about a 1/2" of ceiling height would be lost by using drywall to hide the popcorn. I really appreciate everybody's comments and time that you took out to share your knowledge !
My relatives had this problem and found it was easier, cleaner & much cheaper to just put new drywall over the popcorn.
They lost 1/2" ceiling height (out of standard 8'), but it is not at all evident .
My least favorite thing to do is remove popcorn ceiling, I cannot charge enough. The mess is a nightmare but it is also a nightmare to remove it. I try to encourage my clients to laminate the ceiling with sheetrock, less expensive and much easier
Thank you all for weighing in! Your insights are very helpful!!!
When you rent a tenant, do you have to be careful to pay the nanny tax?
I have worked with the owner and have rented numerous tenants in this building. All of which have been extremely happy with the services and continue to have strong relationships with them.
This building to me is one of the best condos in all of NYC.
Hi - I need to get out of my apartment with 6 months left on the lease. The building said if I find someone to take over the lease then I won't be penalized. I've been posting ads on craigslist with no success. Funny thing is the building's leasing office is telling me they can rent it out in a heartbeat, but they won't help me search for a renter. Which is odd. Anyone know why they can get rid of the apartment so easy but I cannot? I must be doing something wrong. I'm thinking of standing in the lobby during their open house this weekend and advertising my own apartment since renters will actually save on the amenities fee, since I've already paid it in full. The building has a 24 hr doorman, outdoor pool and hot tub, gym, golf simulator, kids room, billiards, in unit washer and dryer. You'd think it would be pretty easy to move it.
It also has a great view of NYC. It's in Weehawken/West New York.
Any ideas on what I should do?