Written by David Bogoslaw on March 02, 2018
Boards learn to jump through hoops during Tudor City window jobs.
Written by Frank Lovece on September 04, 2014
What do you do when your building doesn't own the land on which it sits?
Yes, that's a thing — it's called a "ground lease," a real estate instrument in which a cooperative or a condominium corporation owns the building but only leases the land. Usually it's for long periods of up to 99 years, after which, theoretically, the landowner can tell the board to move the building elsewhere. And in the meantime, your monthly payments include ground rent.
The New York Post is reporting that Tudor City is under attack for trying to evict a mentally ill woman. The co-op and a 51-year-old woman's longtime boyfriend have been fighting, both in court and out, since 2006, when the first eviction attempt came. Frank Mazzocchi, 77, claims Tudor City is trying to spiff up its image and has actually ordered the woman to stay indoors, exacerbating her condition. "Most of the board members were heavily invested in apartments in the building .... and therefore had a personal interest” in “appearances and activities they found undesirable,” Mazzocchi alleges in court documents. Each side is denying all accusations, and the board's attorney declined to comment.