Plaza 400

I lived there many many years ago but it was one of my favorites. Very well run. Quality of life? with a pool on the roof like that ,what could be better?

As far as I'm aware, very well run. Attracts an older clientele due to the high down payment. Very convenient midtown location yet relatively quiet, particularly on weekends.

Very VERY well run coop. Live in the building now. While building has older client, lots of families have been moving in as well. A brand new gym will be opened in the building starting this November. Very nice building in a great neighborhood.

How are the schools there?

Wonderful building- quieter residents with many young families and/or older residents. Neighborhood is perfect, near enough to midtown for all the activity yet also far away enough to enjoy some tranquility and quiet enjoyment in the middle of the city.

Residents are very nice and a quaint neighborhood. The deals in this building are quite good mainly because of the higher down payment requirements (40% i think). Schools would be the new PS 58 and PS 183.

From what I have heard/seen, the Board is extremely slow in processing purchase/sale applications (e.g., you may go 3-4 months without hearing anything one way or another).

The process is not that bad- 2 or 3 months for application process. It's a lenient board, especially compared to other coop boards in the area.

We have lived here for 2 years, and could not be more pleased. The building is very well run, and the staff is outstanding. They do everything possible to make life comfortable. Bus transportation is very convenient, although the subway is a rather long walk.

a lot of apartments for sale in that building. Any reason?

What's with the stores in the building, 3 have been vacant for years. Notice the for leases signs are down, have they been rented??

Not rented out yet - prior tenants are still paying rent and it will expire in the next two years. That is why no new tenants have moved in b/c the building still receiving rents from current building.

I live here and the board has said they are actively seeking new tenants as the bank lease will end soon.

does anyone know why there have been special assessments in 2009 and 2010 of about $2-3 million each year, and possibly another one this year?

Hallways were completed renovated in 2010/2011. Also- new gym for the building and new plans for a re-do for the front fountain.

When I purchased the following was given to me by my broker as the financial requirements for Plaza 400.
Your net worth must be 2.5 X purchase price. Also maintenance and any other building expenses e.g. parking, gym, pool cannot exceed 25% of monthly income. There were a couple of other requirements as well which I can't recall.

I've been looking at the listings in this building over the past several weeks, and the asking prices appear quite reasonable considering the apartment size. I've also read elsewhere, from at least one broker, that the building requires a net worth of at least two and half times the purchase price. Is this true? Can anyone say for certain what the board's net worth requirements are, assuming net worth requirements exist at all. Possibly an informed person who either lives in the building or is friendly with board members might shed some light on this subject. This info would be helpful to me.

While there are no strict requirements (has to be X for net worth), there are guidelines for the building management. There have been very RARE turn-downs or rejections from the board because almost all the purchasers over the past decades have been from strong, solid buyers.

Can anyone share with me if washer dryer is allowed in the apartment? Thanks

Washer/dryers are not allowed here.

Thanks. How do a building of 500+ units manage laundry? The central laundry almost needs to be as big as a factory!

There is a large laundry in the basement with quite a lot of new washers and dryers of varying capacities. During weekdays it it mostly used by housekeepers and maids. Residents seem to use the laundry room in the evening and on weekends.We usually do a whole week's worth of wash for the two of us in about 1.5 hours on weekends. This is much faster than when we had our own w/d units in another building that were smaller and took much longer to dry our wash.

Recently applied to purchase co-op at Plaza 400. Met every financial condition as communicated by building management, seller accepted offer, approved by bank for mortgage, filled out application meticulously and have very stable employment situation. After incurring expenses of application (appraisal, application fee, lawyer, etc.) Board turned us down without even asking us for an interview or calling any of our references. Doubtful that board even read through the entire application.
Very questionable as to whether the Board is fulfilling its fiduciary responsibility. Board seems to feel that they can act in an arbitrary and abusive way with impunity. My advice—think carefully about whether you want to live in Plaza 400. The building has some very nice amenities, but so do other buildings in the area where you are much more likely to deal with a responsible Board.

Board seems to feel that they can act in an arbitrary and abusive way with impunity.

Exactly how were you abused? Most probably there was a problem with your financials and that is why the board turned you down

The building has some very nice amenities, but so do other buildings in the area...

Read the following. http://observer.com/2013/06/sometimes-you-want-to-swim-where-everybody-knows-your-name/?src=habitatmag.com There are only 15 buildings in the whole island of Manhattan with outdoor rooftop pools and Plaza 400 is one of only handful that are in apartment buildings

Was the sales price too low?

Thank you for your comment, "love to cook." I have some thoughts on the matter which I posted in the discussions section under the heading,"Plaza 400 Board." If you are interested here is the link:

http://streeteasy.com/nyc/talk/discussion/35702-plaza-400-board

Point of clarification. I have 3 posts on "Plaza 400 Board." The one I am referring to is the third one one the page.

>Point of clarification. I have 3 posts on "Plaza 400 Board." The one I am referring to is the third one one the page.

I'm so confused.

That's a typo, it should say, third one on the page.

Vg59, why don't you start from the beginning since clearly his is not working.

I lived in the Plaza 400 for 30 years before moving out two years ago. It was a different board back then and other management, they were all wonderful. The building itself is beautiful. Spacious apartments, outdoor pool on the roof, etc. However,the in house management office is rude and unhelpful except for the chosen few shareholders (those are the ones who love the building ... I wonder what makes them chosen? LOL!! If you try and seek help from the board you get the runaround. Even though they are shareholders themselves they have the attitude they are above their fellow shareholders. There are many, many large assessments in the building each year. For those of you who did not get approved consider it a blessing. For those of you looking at apartments here don't walk, run away from this building. I have moved on from the abuse this building gave me and my now deceased husband (he died in our apartment here) When you are down the management and board actually twist the knife in your heart even more! After my husband died and before I moved out I dated an ex board member who before we dated made mine and my husband's life a living hell. I got a lot of how this building runs from him and it is NOT pretty. This is my opinion, but mind you I lived it and still have all the paper documentation from lawyers my side and their side that I saved from my horrific experience at the Plaza 400.

Hi, the pool is a big attraction for me. Would someone be able to tell me how much pool membership costs during the season for residents? Would be interested to see whether this is in my budget. Thanks!

Hi, the pool is a big attraction for me. Would someone be able to tell me how much pool membership costs during the season for residents? Would be interested to see whether this is in my budget. Thanks!

Last summer the price was$300 pp

Hi, Iam considering buying an an apartment in this building. Is the building in good financial shape? Why are there so many current listings? Looks like tenants are fleeing in anticipation of a huge assessment or maintenance increases. Does anyone know?

Hi I wend to see a dentist whose office is adjacent to this coop. When I pass the pedestrian side of the drive thorough, doorman, MARCO, stopped me and force me to walk a car side. I was shocked to be treated like this way. The building does not look good due to a construction of lobby area and very cold and discriminatory attitude of a doorman. I would not like to live there... Please check carefully if you consider to rent or buy there for your long-term comfort. Doormen are assets or liabilities of the building - if good, raise the value of property significantly, if bad ruin the reputation and asset value. I lived in one building (Churchill) their doormen were best, not sure the situation is the same.