New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021

HABITAT

BRICKS & BUCKS

BUILDING PROJECTS IN NYC CO-OPS/CONDOS

Facade Restoration: 45 Central Park North, Harlem

Harlem, Manhattan, 45 Central Park North

45 Central Park North
Jan. 1, 2012

Neighborhood

  • Central Harlem, between Fifth ave. and Malcolm X Blvd.
  • easy access to subways (B, C, 2, 3) and buses (M4)
  • 11 public schools (elementary, middle, and high) within walking distance, also 5 charter schools, 5 private schools
  • across the street from northernmost part of Central Park
  • a few blocks from Morningside Park, Riverside Park, and the Cathedral of St. John the Divine, which has the dubious distinction of being the largest unfinished cathedral in the world

Value

The Buyer Spend

  • September 20, 2011: 1C sold for $126,500 (most recent sale)
  • November 15, 2010: a unit sold for $210,000 (largest recent sale)
  • March 31, 2010: apt. 6H sold for $225,000

Property Taxes

  • Estimated Market Value: $5,425,000 2011/12 
  • Taxable Value: $381,025

Building Investment

Project 

  • Cost: $287,000
  • replacing defective brickwork
  • re-pointing mortar joints
  • rebuilding parapet walls
  • replacing clay camelback coping segments with aluminum coping
  • applying new cold-fluid-applied flashing
  • replacing defective terra cotta segments with matching fabricated cast stone segments
  • repairing decorative stonework and balconettes
  • replacing steel support members
  • recaulking window perimeter joints

Contributors

  • RAND Engineering & Architecture PC compiled the construction documents, obtained the work permit from the Department of Buildings, and is administering the work
  • Work performed by Juno Contracting Corp.
  • Rand’s Yessica Marinez is the project associate
  • Property manager Seth Weinstein of ABC Management and board president Ria Davis represented the board

Ask the Experts

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

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