New York's Cooperative and Condominium Community

Habitat Magazine October 2020 free digital issue

HABITAT

LOWER MANHATTAN

How a Co-op Shareholder’s Isolation Came to an End

Written by Michele Cardella on September 28, 2020

Lower Manhattan

Some bonds are far stronger than the fear of a deadly virus.

For This Co-op Shareholder, the Magic Is in a Hammock

Written by Michele Cardella on February 04, 2020

Lower Manhattan

In an amenity-free building, it's the little comforts that count.

Show singles out Central Park West as haven of undertaxed wealth.

The Clock Tower Building’s four clocks will keep on ticking.

Trinity Church, a fixture in downtown Manhattan since the late 17th century, has taken a step back from the real estate frenzy of the early 21st century. The Episcopal church, known for its commitment to community service and low-income housing, has scrapped controversial plans for a 30-story, glass residential condo tower at the site of its 90-year-old parish building.
Instead, the church tells The Real Deal, it will build 98,000 square feet of community spaces and offices at nearby 74 Trinity Place, including classrooms, gym facilities, a cafe and a meeting room. Historically, the church has offered services for the poor, the elderly, the chronically mentally ill, the homeless and others in need.

Of the church’s decision to scuttle the condo project, rector Rev. Dr. William Lupfer said, “Considering our numerous ministries in Lower Manhattan and our close ties to the community, a flexible office component makes more sense.”

A few months ago we told you about how some prewar buildings in Lower Manhattan, which were originally built as office towers in the early 20th century, are being converted into residences. These buildings include the iconic Woolworth Building. If you're wondering how the transformation of its top floors into high-end condos for the super rich and mega lucky is progressing, then wonder no more. As part of its "Real Estate NYC with Katherine Clarke" series, the New York Daily News got a look. Alchemy Properties CEO Kenneth Horn tells Clarke that it was important to preserve the building's grandeur and the character rather than try to modernize it. Smart move. Check out NYDN's video… and maybe consider playing the lotto. 

Soon after taking over as managing agent on the 42-building 420-apartment West Village Houses complex in lower Manhattan, Lawrence Properties had to cope with the devastating effects of superstorm Sandy, which knocked out power and flooded the basement and ground-floor apartments, leaving 33 families homeless. "Almost 10 percent of our apartments have been destroyed by the storm," says co-op board president Jim Bozart. "There's been extreme dislocation, lots of suffering, most of the people are not back in those units. They've been gutted."

How did the management company and the board work together in the wake of this disaster? And what can your own co-op or condo board learn from it? Bozart and Lawrence Managing Director Anton Cirulli spoke with Habitat editorial director Tom Soter about their experiences.

Recent news affecting co-op / condo buyers, sellers, boards and residents. This week, we pick up the pieces from Hurricane Sandy, with timely advice from insurers, property mangers and others, along with a sneak peek at an e-mail exchange among some condo owners in Lower Manhattan. Plus, a former doorman tells how incredibly cheap the billionaires are at 740 Park Avenue, and a free-speech case goes to court.

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

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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