41 Fifth Avenue

Came close to making an offer recently until I dug a little deeper--have a friend of a friend in the building. Beautiful, classic Greenwich Village establishment but unfortunately it’s another troubled, mismanaged co-op. Capital reserves are very low and they’ve done away with the flip tax, so shareholders are constantly hit with “one time” assessments whenever repairs are needed. Monthly maintenance charges are steadily rising. The requirement to have an elevator attendant 24/7 is a financial drain. The Board’s interests don't seem to be aligned with the building’s shareholders. A lovely building with seemingly endless headaches for those who inhabit it.