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building at 233 East 69th Street

Started by scotttocs
over 12 years ago
Posts: 0
Member since: Jan 2007
Anyone know if the high maintenance is an aberration from the retail being blocked by Subway construction, or if it is just a very high maintenance building?
Response by shans44
over 12 years ago
Posts: 23
Member since: Jun 2012

isn't there major litigation currently being funded by the coop?

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Response by NWT
over 12 years ago
Posts: 6643
Member since: Sep 2008

A federal court dismissed their case last year.

Maybe an owner there can tell us how much was frittered away.

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Response by RealEstateNY
over 12 years ago
Posts: 772
Member since: Aug 2009

The subway construction surely isn't helping regarding retail income.

The maintenance seems to be about 10-15% higher than the norm which is about $2 per sqft.

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Response by UES76
over 12 years ago
Posts: 1
Member since: Feb 2010

The buildings maintenance is way overpriced for what you get. It has park ave maintenance prices for below average service. the board is in small units so it does not affect them.the building does not own the retail space which contributes to the maintenance.

Litigation cost about $3ook according to a friend who owns there. they are looking to get out as maintenance has gone up 305 over the past three years. there is a auxillary building for the subway going up next to main entrance.

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Response by UES76
over 12 years ago
Posts: 1
Member since: Feb 2010

30% that is

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Response by averyny
over 11 years ago
Posts: 9
Member since: May 2010

The lack of factual information in others comments is surprising.
1) 233 E. 69th St. was an MJ Raines conversation. None of his conversions, whether on the eastside and westside, have any jurisdiction over retail spaces. MJ Raines kept all of the retail spaces, so none of the buildings have retail income. McArthur handles the retail spaces and ACP bought the unsold shares in all of his conversions. The maintenances are high because Raines took out balloon mortgages. This was in the late 80's. It has nothing what-so-ever to do with the subway.
I have no idea who UES76 is, but the comments are simply untrue. Obviously that person does not have 1st hand knowledge and does not live in the building!
2) At one time the building was in litigation regarding the change in the MTA's proposed auxilary building. However, I can assure you it cost a bit over $125k, nothing like the 300k mentioned above.
3) The board is a regular coop board. It's not broken into any kind of "groups". It's voted in and works as a team.
4) It is not a white-glove building and doesn't advertise itself as such. What it does have is a particularly friendly, helpful, caring, well-meaning staff.
5) It also has a wide range of ages and family groups, and does not discriminate based on race, religion, or ethnic background. It's truly NY!
Avery Real Estate New York

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Response by Newsbro
over 9 years ago
Posts: 0
Member since: Feb 2012

Looking at a 2-bedroom building for $699K. Seems low. Anything unusual about this building that would make that the case?

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Response by averyny
about 9 years ago
Posts: 9
Member since: May 2010

To Newsbro....Anything advertised recently as a 2-bedroom for $699 was originally a 1-bedroom with a dining area. If you are referring to 6I, this was the case. There are 3 1-bedroom lines in the building suitable for this type of conversion; none have closets, however. Marji Wollin, broker

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Response by UES_Ida
about 9 years ago
Posts: 76
Member since: Oct 2015

As you can see from the discussion above, there are a few issues with the building - namely, the construction of the exhaust vent for the 2nd avenue subway will be right outside your window. I believe it goes up to 9-10 stories. You can see renderings online. The building spent a bit of money trying to fight this and lost. The building also doesn't own the commercial spaces located within it. That said, you can get a good deal for the price if you're okay with all that.

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Response by KSNY
about 8 years ago
Posts: 0
Member since: May 2011

Does anyone know if there is a rodent problem in this building?
Do buildings with radiators typically have more mice than central air buildings?
Thanks.

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Response by prg1754
over 2 years ago
Posts: 0
Member since: Sep 2022

Looking at buying a studio in this building. Any input would be appreciated (maintenance, management, community, issues etc.); there are quite a few units for sale and most have been on the market for months.

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