Written by Tom Soter; additional reporting by Jason Carpenter on September 17, 2014
Crest Manor is a seven-story, 160-unit co-op at 377 North Broadway, in Yonkers, N.Y. The 35-year-old property has been dealing with crumbling infrastructure for years, according to longtime managing agent Darek Chrzanowski of Stillman Property Management, who says that the time for stopgap repairs had passed. The building needs to replace its balconies, refurbish the swimming pool and fix the two-level parking garage. Budgeted for $2.5 million, the projects are being funded by a refinancing of the co-op's underlying mortgage.
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