building at 7 West 92nd Street

How is the building doing in general? Do you have any information on major improvements that will be needed after the available units are sold? Any other complaints or positives? How is the Super?

Thank you for the "heads up" about the noise levels!

I am a broker and have lived on this block for 18 years. While the noise and partying used to be a disturbance in the neighborhood, the situation has improved greatly. I'd be happy to show buyers some other great listings in the neighborhood.

Joan@metropolitanresidential.com
917-992-9433

Isn't this building income restricted HDFC or whatever?

Yeah. Two people can't make more then 101K. The wife and I threw around the idea of buying in this building since we make just south of the income restriction and have the down payment to make the mortgage payments manageable.

Does anyone know if the noise/partying situation has gotten better in this CoOp? I would really like to buy here but not if it isn't quiet. I don't care how cheap it is, if you can't sleep a night, it isn't worth it.

Thanks!

I went to an OH here this afternoon and I must say that if you are in the market for a "fixer upper", THIS is the building for you. As for me, I'll pass.

the parting has gotten "better" but there is still hanging out -- and disrespect for the neighborhood--I a a neighbor and I have been sworn at and give the fingure and worse when I look out the window at the front of the building--seems to be a place to hang out till even 5 in the morning--

If you are thinking of moving in--please presure the building managers--I think it is inproving and might be a good place to live...if some of the residents could quiet or move on (weekends and late at night are the worst)

great location, but that may be it. We looked at the otuside of the building and it did not appear to be in great condition. Also the street reeked of something, although the building can hardly be blamed for that. I contacted a broker for an hdfc listing in the building that was 350k. She said that I would need to bring a certified architect to renovate. If I qualify for hdfc and am buying a place for 350K, am I going to have any money leftover for an architect?

Anyone have a link to the HDFC income limits?

i contacted a broker about one of the apts. She said $88,770 for single person, $101,310 for two
persons, $114,015 for three persons, and $126,720 for four persons. Also, there is a 25% flip tax. this was in regards to this apt:

http://www.streeteasy.com/nyc/sale/314943-coop-7-west-92nd-street-upper-west-side-new-york

I'm not sure if each unit in the building has the same income restrictions.

The woman who has all of these listings - Amy - is nuts and a total flake. I would stay stay away... there is a reason all of these places have been on the market for over a year. Also, look up this building in the city's data bases. It is riddled with violations for no heat, rats, and so on.

Does anybody have recent info/comment on this building or the apartments listed for sale therein? I am relocating to NYC from abroad (I know v. little about NYC real estate) and the listings seem interesting, but the previous comments are enough to give one pause. Thanks for any info or advice.

to all potential buyers bewar that real estate agents will seel there own souls to make a sale.
first thing is first there is no no no !!! "wet over dry" in this building so contrary to what ever the agent or the board of directors might say there is no "wet over dry".. the share holders voted overhelmingly not to allow "wet over dry". so if they say you can do what ever renovations you want you really can;t.also this building has been plagued with violations, fines and an incompentent and alleged corrupt misleading board of directors. they have no regard to present and future shareholders concerns. the board allegedly have there own private finacial agenda for this building....

I would like to know hat that agenda is.

This building is pure hell! Save yourself and your family from the worst financial mistake of your life!!! This is not a joke---heed my warning!!! There is never a quiet night in this bldg, smoke seeps into your apt ( and not the legal kind ) the noise is around the clock, the hallways are filthy and constantly littered with cigarette butts--so effing disgusting!!! Oh, yeah, let's not forget about the cockroaches and mice! There are far better buys on the UWS---DO NOT GET SUCKERED INTO THIS ONE!!

Many of these comments are outdated and, while they may have held some credence in the past, they do not reflect the current lifestyle in our building. 7WEST has undergone a significant improvement and is continuing on an upward path.

Here's some important info about 7WEST:

There are 51 apartments and 45 shareholders of which 33 are original owners from when the building was converted to a co-op and 12 are owners who have purchased in the last 2-1/2 years. One apartment serves as the building office, one for the super's residence and the other 4 are used as income generating rentals (3 of 4 are currently occupied)

Our building is financially strong. It is debt free, current on all of its obligations and has run a small surplus over the past two years. The board retained a highly regarded CPA who performed our 2009 audit and helped to develop our 2010 & 2011 budgets.

7WEST is undergoing a $2 Million renovation to the building's exterior which includes a complete window replacement, brick and facade work throughout to comply with Local Law 11 and removal and replacement of the roof. The entire renovation is funded using flip-tax funds and without any assessment or increase in maintenance.

Regarding the flip-tax, it is a 25% charge levied on any profit made on the sale of an apartment in the building. All proceeds from that tax go to the building's capital investment fund. The shareholders recently amended the by-laws so that capital improvements shareholder's make to their apartments, as well as broker's and closing fees, are exempt from the flip-tax.

To purchase in our building your gross income must have been below the following levels:

Household Size Maximum Income
1 $91,600
2 $104,600
3 $117,650
4 $130,700
5 $141,250

In a direct response to the two negative comments above from MADSHAREHOLDERS and dramafree, I believe these erroneous statements were posted by an individual shareholder who was disappointed by a difficult board decision which went contrary to their desires.

There is no corruption within the board or any private financial agendas. 7WEST has a professional building management company, CPA audited financial records and quality legal representation on retainer. The building has a full time, live-in super who keeps the building's common areas clean and orderly. There's a monthly visit by an exterminator hired by the co-op and as far as I know there have been no mouse or roach complaints to the board or building management.

7WEST gives low to middle income people a unique opportunity to live next to Central Park in a beautiful turn-of-the-century building at a reasonable price. There are several units currently for sale and I encourage you to come visit our wonderful building.

The Voice of reason is a complete TOOL. I have lived in the bldg for a very long time, and what I witnessed

from this current board is absolutely disgusting!! The difficult decision that is mentioned above, was to

allow two new shareholders to put their kitchens above and below a family's bedrooms! Completely reversing

their entire layout. This family had no choice in the decision the hideous board made for them. The family

organized a "Special Meeting" and they won. The next day, the so-called president signed the plans to put the

kitchens above and below their sleeping areas anyway!!

With plans signed and sent off to the Dept. of Bldg's, the family was screwed. This supposed to be a low

income bldg, how could they afford to sue and try and stop them??? They were supposed to be protected by the

board, but for whatever reason (MONEY) they simply would not do the right thing by this family. Oh, and the

cherry on top for this poor family--now the board is trying to evict them because they are livid over how

their family has been treated! They rolled the dice on a bad bldg and royally got screwed, would like the

opportunity and such horrible treatment??? I doubt it. Who would. Now this family dreams of leaving as soon

as they financially can. Ah, the irony.

Is this a building that you would really be interested in??? A bldg where your personal safety is totally

disregarded?!?! A Bldg, where a board, with zero shareholders approval, installs cameras outside of your apt

doors without any notice??? And then, they claim that they can do whatever they want! And the cameras were

put up to stop people from smoking pot and cigarettes in the hallways---NOTHING has changed! People are still

smoking in the hallways. A bldg, where your fellow shareholders stand up and fight on your side, to only have

this pathetic board crap all over us all?!?!

So, if you want to live in a bldg where your voice means nothing, the live-in super smells like yesterdays

booze, where your child will get it's first wiff of marijuana right outside your apt door--hurry on down for

the kind of misery we are all trying to avoid in life, there is plenty of it to go around at 7 West.

Like the comments state above: SAVE yourself and your family from the worst financial mistake of your

life!

The current board was elected this January with 2/3 of the shareholder vote and works hard to offer as much transparency as possible. Any shareholder is welcome to attend board meetings, monthly financial statements are provided and quarterly general meetings are held.

Isolated incidents of smoking in the halls have been a concern and the board is working to address this issue with new elevator vestibule cameras and enforcement of the house rules.

If you have any questions about the building please feel free to email directly at 7W92nd@gmail.com and I'll be happy to correspond.

Well played "Voice_of_Reason" Getting on your hands and knees to get the new amedmant pass with the promise of a new door paid off. To all potential buyers please buy....It only makes our apartment that much valuable.As for the board of directors. Conflict of interest If you need new floors I am sure that a certain B.O.D can give you a real good deal.Hiring a family of a certain shareholder as a favor to have that support and vote in the B.O.D pocket. Also I want to thank you for introducing "big brother" and the invasion of our privacy.
This statement "7WEST gives low to middle income people a unique opportunity to live next to Central Park in a beautiful turn-of-the-century building at a reasonable price. There are several units currently for sale and I encourage you to come visit our wonderful building"
So why is it we have "white collar" that im pretty sure that make well above the low income median?
By the way how much can I get cherry wood floors???????
The Board of Directors is the only thing "trasparent" in this building......

Hi,

Quite a bit has changed... First, I believe most if not all of the negative posts are from a single disgruntled shareholder. The vast majority of us are happily living here together.

Admittedly, the halls a kind of ugly, but plans to renovated the halls and lobby are in progress after the major structural repairs are addressed. The windows are only part of a $2,000,000 renovation which includes the new roof and all of the exterior brick pointing and repair. Basically, we're making sure there's a water and weatherproof shell [brick, roof, windows] first then continue to beautifying the interiors.

The security cameras were primarily installed to address complaints about a few people smoking in the stairwells, which subsequently seems to have been eliminated.

I have no reservations recommending you purchasing an apartment in the building. It's a fantastic location with great prices, is safe for families and [overall] filled friendly neighbors.

Hope this helps.

BD,

I think the halls and paint are a matter of time. The building is taking care of structural issues now and will probably get to improving interior aesthetics down the line.

Other than the great location and the ongoing improvements to the building, I appreciate our super and building management company. Both are easily accessible and do a solid job.

as one of many new owners i can say the board has worked hard to upgrade the structure and condition of the building, address tenant concerns, and improve the financial strength of the coop. the hallways and entrance certainly need work. it will get there. all the recent apt. sales within the building illustrate what new purchasers believe (look how much activity there has been). This is a great opportunity for those who meet the income restrictions to live in an amazing neighborhood, less than a block from the park, in a building that will continue to make progress. most buildings in nyc have cameras everywhere, you just don't see them. the buildings that don't have them are the ones you should worry about.

the change in this building has all been for the better.

As one of the few shareholders/tenants I have seen this building go through up and downs. Shareholders are not disgruntle but very saddened to what is happening to our building. Let me start by saying if "voice of reason" stated "The vast majority of us are happily living here together." why is new NEW owners are selling there apartment? not even living here only 2 years and some never ever live here. It is my belief that a few see the oppurtunity in making money by "flipping" apartments. And taken their profits and leaving the rest with burden. As stated by "voice of reason" a 2 million dollar renovation is taken place. Which in turn the maintenance will be raised to repay the bank.
1)Shareholders have not recived a finacial updates/statements of the building costs.
2)Shareholders are not ALLOWED to join in monthly board meetings and shareholders are kept out the loop.
An investigation into all finacial records will commence in the near future. Also into alleged harrasement/retaliation against shareholders from the board of directors and management company.
As for the so-call "voice of reason" the only reason he is, is for himself. "VOICE OF REASON" TALK ABOUT BEING Narcissistic.

Our building has it's share of the good, bad and the ugly, but isn't
that the case with any bldg?? Absolutley. I agree and disagree with a
lot of the comments above, I feel that a lot of the negativety with be
squashed once the the apts that are for sale are sold. And when we have
more of the original shareholders on the board, I believe that will help
us with our concerns in regards to what direction the bldg is headed for
the long-term future. I and many others feel that the cameras are unnessary
and feel that our privacy is being invaded upon. We all have lived here
safely without them for many years, so why should we have them now?

As for the bldg: We are a bldg in the middle of a major renovation, so we
don't look super pretty right now, but that will all change. Most of
our apts have lovely new windows and soon the windows in the halls
will be replaced, as well as a brand new intercom system and the
hallways being beautified--this bldg is on its way to looking no
different from any of the bldgs on CPW for a fraction of the price.

The future of 7 West is bright and positve.