Tom Soter in Building Operations on July 31, 2014
Schaedler has called the 57-unit, six-story building home since 1990. Built in the 1960s and converted to co-op in 1981, the property, with a cross-section of seniors, young professionals and ethnic groups, has been managed by Fairfield Properties continuously since 1990 (after a stint as sponsor-manager from 1981 to 1984). Among other amenities, it features a swimming pool and a tennis court.
The co-op board members are "very proactive, but they also listen to management," says Fairfield's John Shewchuk, who has managed the property for 19 years. "We work hand in hand." Over the decades, the co-op has done all the usual capital-improvement projects, including boiler replacement and facade repairs, and has seen its reserve fund change from "adequate" years ago to "healthy" in 2014, thanks to a pair of savvy refinancings that were supervised by 20-year treasurer Jeffrey Millstone.
The board is currently adding security cameras and upgrading the intercom. "Because we have an old building, we're constantly making changes," says Schaedler. "It's a beautiful building. I have a balcony that overlooks a large grassy lawn with a tennis court. You wouldn't even know you were in New York."
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