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what happens when two condos share amenities?

Started by buyerbuyer
almost 14 years ago
Posts: 707
Member since: Jan 2010
Discussion about
Anyone know anything about how this works, or what risks there are: - can either condo terminate the arrangement? - does the junior condo (without the facilities) have any voice in how the facilities are managed (pool hours, for example)? - is the apportionment of costs between the two condos set initially by some formula, and can it be changed? (In Williamsburg there are two adjacent condos, 80 metropolitan which has a gym and pool, and 58 metropolitan, where residents can use the 80 met facilities. )
Response by Riversider
almost 14 years ago
Posts: 13565
Member since: Apr 2009

Extell just put up a two buildings one rental one condo and they share amenities too. Sounds messy..

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Response by Riversider
almost 14 years ago
Posts: 13565
Member since: Apr 2009

bondbuyer, there's no way to know about your situation without looking at the offering plan.

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Response by buyerbuyer
almost 14 years ago
Posts: 707
Member since: Jan 2010

Rsider -- I understand that. I guess I was just wondering how this is typically done, because it seems like it hs th potential to cause lots of issues, along the lines of those I mentioned,

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Response by gcondo
almost 14 years ago
Posts: 1111
Member since: Feb 2009

it is typically done according to the rules stated in the offering plan or bylaw changes since then.

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Response by juuceman
almost 14 years ago
Posts: 84
Member since: Sep 2010

58 Met's common charges are set at a lower rate/sq foot than 80 Metropolitan's. While we didn't read the offering plan, it should be specifically contained within the offering plan and is likely deeded in. Same with the townhouse properties than are associated with this development. I can see it being crowded, but as the units are sold with the amenities as part of the package, I'd be amazed if they didn't address this.

As an FYI, Northside Piers has a similar arrangement, wherein Tower 1 owners can use Tower 2's amenities, and vice versa.

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