New York's Cooperative and Condominium Community

Habitat Magazine Business of Management 2021


255 W. 23RD STREET

When a first-floor shareholder's floor collapsed into the basement, the board at Chelsea Gardens, a six-story, block-long, 170-unit co-op at 255 West 23rd Street, decided to excavate the filled-in space to raise some much-needed funds. With all of the dirt removed, the basement walls measured 13 feet high — tall enough to meet the legal requirements for occupation — and the co-op would have an additional 5,000 square feet it could either sell to shareholders on the first floor to create duplexes or offer to buyers as new units.

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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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