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Building at 50 Sutton Place South

Started by Considerthis
about 12 years ago
Posts: 2
Member since: Sep 2008
Discussion about
Lawrence Kessler is shown as the owner of 50 Sutton on this website. I thought that, in a co-op, shareholders collectively own the building and property through their shares in the cooperative corporation. Could someone please explain why that is not the case here? Is this a land lease building? Thanks.
Response by NWT
about 12 years ago
Posts: 6643
Member since: Sep 2008

It's not a land lease. The owner is "50 Sutton Place South Owners, Inc." A Lawrence Kessler is/was a shareholder. Maybe he was the president or something, and that's how he ended up in the database from which SE pulls its owner info.

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Response by front_porch
about 12 years ago
Posts: 5316
Member since: Mar 2008

I sold in 50 SPS earlier this year. It is not a landlease. The co-operative corporation is 50 Sutton Place South Owners Inc.

hope that helps.

ali r.
DG Neary Realty

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Response by front_porch
about 12 years ago
Posts: 5316
Member since: Mar 2008

beaten out by a nose ...

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