110 CPS developer and marketer giving to Central Park
Started by ms0
over 19 years ago
Posts: 107
Member since: Nov 2005
Discussion about 110 Central Park South in Central Park South
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That's very cool. I hope they start a trend. Others could certainly contribute to nearby parks, or greening efforts. Those who are developing in "emerging" neighborhoods could do the same, focusing on locally relavent issues.
Also sets a nice example for those moving in to follow.
why is the mainentance per unit on 110 cps is very steep.?
The building is very beautiful , though the maintenance is absurd
Love this building and neighborhood
The maintenance is so high because the entire building is being re-skinned. The developer and builder totally F'd up the work and left many deficiencies in the facade and terraces. The building leaks like a screen door. The work will take another year, after 2 agonizing years already, and the lawsuit probably another 5.
Besides the already high maintenance, this building is a land lease with no renewal rights and no rights to purchase the land. While there's about 88 years left on the lease, the terms are not entirely favorable to the "tenants." Rent increases are predetermined for the first 25 years of the lease, but in 2029, the rent becomes tied to the land value.