Written by Frank Lovece on January 22, 2013
For E. Cooke Rand, a co-op board member at a 48-year-old white-brick building on East 84th Street, his board's initial decision to install a gym "was made conditionally, to explore the idea — what would be entailed, what all the equipment would be. We had a subcommittee of the board, three people, who did the bulk of the work and kept reporting to us — doing all this exploration to see what it could cost and whether the space was suitable. The process wasn't getting together one night, making a decision, and turning it over. We consulted through the managing agent and directly with knowledgeable architects."
Written by Frank Lovece on January 31, 2013
An onsite gym has become standard in virtually all new developments, and many older buildings are retrofitting to include them. In two past articles we've looked at how real estate professionals value them, and at the standard steps co-op and condo boards take to make the decision and to make it a reality. Now we look at the final piece: security and insurance.
Written by Frank Lovece on January 10, 2013
Far beyond being a trend, gyms, also known as health clubs and fitness centers, are becoming as ubiquitous as lobbies and elevators. You'd be hard put to find a single new-construction condominium that doesn't have one, and many older cooperatives and condos, anxious to stay up-to-date, are weighing the option so as not to look like dumbbells. "If you don’t have one, you’re at a competitive disadvantage," says Deanna Kory, a senior vice president and associate broker at Corcoran Group Real Estate. "There are people who look at two similarly sized apartments who will be swayed to the building with the gym — often."
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