We are a five story co-op in Inwood and are planning an elevator re-hab. Our best bidder is El Tech. Has anyone worked with them and have any positive/negative feedback that might help us?
Hi
I am writing to solicit this community’s thoughts, advice, and comments on our sponsor issue.
Our building converted in 1984 – today the sponsor still owns 55% of apartments and 60% of the voting rights. They have no motivation to sell because they are clearing good money in rent. The sponsor is also the managing agent. There are 5 seats on the board 3 residential board members – 2 sponsor members.
Many aspects of NYBL are not followed – meeting minutes are not recorded, records of shareholders are not current, apartments are transferred and there are no resolutions just an email here or there, infect there was a garage increase implemented – but no meeting minutes to record it and no resolution to adopt it…. Very suspect….
Forget about Capital planning and financial management – they don’t have the experience or contacts of making our building structurally and financially sound.
We actually have made some progress since my joining of the board least year – but when we push back things get murky – late night renovations – We now have college dorms in our co-op building. Additionally, we fail to meet NYC building code – think no need for an EPA certified contractor, Fire extinguishers that are updated, painting sprinklers – why bother – Months after asking for a copy of our elevator service agreement – the one I was given was from 1984 and signed by the sponsor….
We are at the boiling point as I don’t want to be associated with something that is breaking all the rules of the prop lease, NYBL, and the spirit of a residential co-op. And since the sponsor has no intention of selling apartments – we have to plan the next step.
If anyone has experience with the attorney general, or experienced lawyers who can assist us, please let me know – My email is public.
If you want to know more of the situation – please let me know, I was thinking of creating a working group to help brainstorm ideas etc. Something has to give --We have a beautiful building, and good people, but we are heading in a bad direction.
Thank You
We've obtained a proposal for managing our LL 11 facade work (a project which will be in the mid-6-figures).
The rates proposed are $305/hour for the engineers and $235/hour for staff members.
Does anybody know how these rates compare with other engineering firms'?
Also, they want to reserve the right to increase their rates (over and above the $10/hour that will kick in on Jan. 1 of any year. Is this a usual and customary provision?
Also, the engineers want the right to veto arbitration in the event of a dispute between them and us. Is this common? Desirable?
been going over everything in the building,
an owner of unsold shares, somehow evicted the resident that was there at conversion, and moved her adult children in, They were there for well over 5 years.
i noticed it is still being carried as unsold shares, it is now rented to a non family member.
i always remember our voting being called cumulative for over 20 years.
a couple of us original owners are wondering how it was changed to this new type. we think in was changed in the last 2 years.
the proxy states
"each shareholder present in person or by proxy is entitled to vote each share registered in his or her name. The total number of shares per apartment may be voted for each candidate selected , but no more than four (4) candidates may be voted for. You may not divide your shares or accumulate your shares.
then by the candidate's name there is a line and above it, it says vote (X) for up to four candidates.
people put a X on the line , since that what it states to do.
i am having a hard time understanding this, it looks like they are stating that is i have 400 shares, i must vote 400 shares for 4 candidates, not split /not accumulate. This seems to be 1600 votes.
the by-laws state each person present in person or by proxy shall be entitled for one vote for each share registered in his name.
i thought that meant if i had 400 shares i could vote all 400 shares for one (1) write in candidate, which the mailed proxy forbids.
Plus putting an X next to a name, how is that a number of shares?
i am seeing a lot of manipulation, last year the proxy letter said give your proxy to a board member, this year it says give your proxy to the super.
for over 20 years it said give your proxy to another Shareholder
Can a standing Board make a Policy that future shareholders have to be in compliance with the Prop. lease and House policies to run for the Board?
Wow, has anybody read the blog post on dogs and a comment there????
i am trying to the name of the court ruling upholding the eviction of a sibling or adult child residing in the shareholders apartment, due to the shareholder not living in the apartment.
specifically the ruling stated that if the wording in the proprietary lease , usually chapter 14 concerning occupancy, used "and", that means the shareholder must also live in the apartment with children or siblings, parents. The wording "or" means the shareholder does not have to reside there. a son or father,sibling could reside legally in scope of the proprietary lease. Marriages and same sex couples do not fall under these provisions, even in my 1980's era proprietary lease.
The buyer of a "Sponsor" unit, which the board cannot approve/disapprove, states that they cannot comply with the corp policy of wall to wall carpeting due to possible health issues. Since we cannot stop the closing, what can we do?
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
I worked with El Tech numerous times and I think they're excellent. I managed a 6 story building on the Upper West Side where the elevator was 50 years old and they maintained it and when it came time to modernize it, they won the bid and came in a week ahead of schedule. They're back-office is very good and easy to deal with as well.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.