Building Facts affecting all Units 1. The building is >=50% investor owned. 2. One apartment empty since 12/2019. Another apartment empty since 7/2020. 3. The building is underinsured. The co-op has a very cheap insurance policy with Traveler’s insurance with $3,138 per year premium. 4. The Board of Directors themselves are collecting the coins from the laundry machines, instead of contracting with a laundry company. 5. There are 3 ongoing lawsuits against the co-op. The main lawsuit concerns the issuance of false financial statements since FY2016. Look up NY civil court case 0523860/2019. 6. In 2013 it was discovered that the co-op’s accountant, Raphael Scotto, had embezzled from the co-op $73,000, instead of paying the property taxes. Our insurance paid the co-op $25,000, but Scotto never paid back any restitution and he died in 2018. 7. Because of the high property tax liability resulting from the theft, the co-op paid $30,280 in property tax interest in the last decade. 8. The building is not being maintained. We need a new roof, tuck pointing, window lintel replacement. I have an engineer’s report to prove this. For now, you can see the following YouTube video: https://youtu.be/2oFxHR-M6wk
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
