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Constraints of History a Matter of Four Inches in a Landmarked District Hot Financing TEACHABLE MOMENTS SERVING NEW YORK BOARD MEMBERS & PROPERTY MANAGERS OF CO-OPS & CONDOS ® WWW.HABITATMAG.COM JULY/AUGUST 2013 $3.95 CONSTRAINTS OF HISTORY A Matter of Four Inches in a Landmarked District Hot Financing. financing for all seasons from ncb’s cooperative housing leaders Mayflower Owners Corp. Queens, NY $5,000,000 First Mortgage $500,000 Line of Credit Coral Gardens Owners Corp. Flushing, NY $2,400,000 First Mortgage 380 Riverside Tenants Corp. New York, NY $6,000,000 First Mortgage $1,000,000 Line of Credit 345 Montgomery Owners Corp. Brooklyn, NY $2,000,000 First Mortgage $500,000 Line of Credit Two East End Avenue Apartment Corp. New York, NY $4,000,000 First Mortgage The Townsend House Corp. New York, NY $2,000,000 Line of Credit NCB – The Bank For Your Cooperative Work with the best to be the best. Whether your borrowing need is $350,000 or $50 million, turn to the financial industry leaders at NCB. www.ncb.coop As the premier bank to housing cooperatives and condos in the New York City area, NCB provides experience, expertise and banking solutions to exceed all your expectations. Products Include: First Mortgages | Second Mortgages | Cooperative Unit Mortgages Deposit Products | Lockbox and Payment Processing | Superintendent Units Call the NCB New York team – Sheldon, Ed or Mindy – at (212) 808-0880 for exceptional financial services every season of the year. The NCB Financial Group consists of the National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. Banking and financial services provided by NCB, FSB. Member FDIC. ©2013 NCB 7/13 EXERCISE ENERGY EFFICIENCY AND SAVE BIG The Green Team can get your 5- to 75-unit building energy fi t. FREE IN-UNIT ENERGY SAVING MEASURES INSTALLED WORTH OVER $100 per unit to help you and GET your residents save UPTO GET $20,000 $115 when you install an for each thermostatic energy management system radiator valve you install ENERGY EFFICIENCY EXPERTS 2013 Consolidated Edison Company of New York, Inc. Ad: Arnell Group 2013 Consolidated Edison Company of New York, 1-877-870-6118 © conEd.com/GreenTeam SAVE BIG ON LIGHTING, HEATING AND COOLING UPGRADES. CALL TODAY FOR YOUR FREE ENERGY SURVEY. CLIENT: Con Edison JOB#: 04728 PUBLICATION: Habitat AD: - AE: NM STUDIO#: TMC MACHINE: Timothy Cozzi PREV OP: PREV MACHINE: Timothy Cozzi BLEED: - TRIM: 6.875 x 9.75 SAFETY: - DATE: 4/26/13 - 12:38 PM CREATED: 4/26/13 - 12:15 PM FILE NAME: 04728_CON_6p87x9p75_m1a.indd FONTS: Helvetica Neue 55 Roman, Helvetica Neue 97 Black Condensed, Helvetica Neue 75 Bold, Helvetica Neue 87 Heavy Condensed, Hel- vetica Neue 77 Bold Condensed GUTTER: - IMAGES: CON_GT_6505543QR_Gry_v1.eps, ConEd_10067_20_85338_BUS_C_300.tif, ConEd_10067_18_85096_C_600.tif, ConEd_10067_16_84971_C_600.tif, CONED_NYC_Brownstones_C_300.tif, CONED_NYC_DUMBO_C_300.tif, CONED_NYC_ParkSlopeView_C_300. tif, CONED_NYC_LES_C_300.tif COLORS: C=100 M=10 Y=0 K=0, C=30 M=0 Y=100 K=0, C=25 M=20 Y=20 K=20, C=25 M=20 Y=20 K=45, C=30 M=0 Y=100 K=5 DOC PATH: Creative:Work:C:con_Edison:04728_CON_PRINT_ExersEnerEffcy:04728_CON_6p87x9p75_m1a.indd LINE SCREEN: 133 SCALE: 100% 2 HABITAT JULY/AUGUST 2013 WWW.HABItatMAG.COM Contents July/August 2013 42 TEACHABLE MOMENTS 2013 ManageMent LEADERS SURVEY Writers & Artists DALE J. DEGENSHEIN is a special counsel at the 6 Put to the Test law firm of Stroock & Stroock & Lavan. An Upper East Side co-op uses LIZA DONNELLY, a contributor to Habitat since a hands-on board and in-house 1982, is a cartoonist at The New Yorker. She management to generate a is the co-author, with her husband, cartoonist Michael Maslin, of A Cartoon Marriage. whirlwind of activity. ELEANOR SELLING is on the renovation committee by Ronda Kaysen at her Manhattan co-op. JENNIFER V. HUGHES has written for The New York Times. RONDA KaySEN writes about commercial real 12 They Want to estate for The New York Times. biLL MORRIS, a reporter for 34 years, formerly Regulate You worked for the Daily News and currently writes for A “co-op bill of rights” resurfaces. The New York Times. by Jennifer V. Hughes PatRICK B. NiLAND is president of First Funding, a mortgage brokerage. RICHARD SiEGLER is of counsel at Stroock & Stroock & Lavan. He currently teaches a course in real 18 When Business Becomes Personal estate law. If you’re making staffing decisions, popularity and DANIEL TEboUL is an award-winning French performance should not be confused. photographer who has been working in New York by Bill Morris for over 25 years. Columns 76 FROM THE EDITOR Noises heard at night. 4 Publisher’s NoTE by Tom Soter by Carol J. Ott 80 PUZZLE 26 Refresh. 61 BOARD TALK Chaos and the captain. A conversation about by Myles Mellor Restore. Redo. a nuisance shareholder. The art of the Property Reports lobby light-touch. 63 MY TURN by Ronda Kaysen Renovation Rx. 74 BUILDING LOANS by Eleanor Selling 74 MANAGEMENT TRANSITIONS 65 ASK THE MORTGAGE BROKER Refinancing is not for 75 PLANNER amateurs. by Patrick B. Niland 75 ADVERTISER INDEX 68 CASE NOTES PROJECTS AROUND TOWN 32 Constraints of Fighting over a commercial 78 Spotlight on 537 Broadway. lease. History by Richard Siegler Or, why a simple window and Dale J. Degenshein 79 RECENT SALES replacement job ballooned to over $500,000. by Frank Lovece WWW.HABItatMAG.COM JULY/AUGUST 2013 HABITAT 3 Publisher’s Note What can you learn in a flash? A lot – if you take the time to ask New York’s leading property managers to share a “teachable moment” with you. That’s what we did in this year’s annual “Management Leaders” survey. Forty-six executives shared their thoughts and good-humoredly followed our photo-posing instructions to create this special “Management Library,” offering quick takes on the many challenges board directors face. One of those challenges has reared its legislative lobbies have been head again. Bills have been introduced in both the city refreshed – and council and state legislature attempting to regulate co- budgets have been op admissions, a process that, frankly, doesn’t seem held in check– at two broken. In fact, the housing downturn that devastated Manhattan co-ops most of the country didn’t much harm New York’s co- and a Brooklyn co-op ops, in large measure because board directors are so (page 26); and, at 5 deliberate in their admissions review. We cover what is Riverside Drive, the renovation committee completely being introduced and the legislative players in “They revamped the co-op’s alteration agreements, creating Want to Regulate You” (page 12). order out of renovation chaos (page 63). Lots of other activity to report this month: 201 For a deeper dive into these stories, including audio East 66th Street has been the site of a whirlwind of interviews and slide shows, be sure and read Habitat productivity – the Third Avenue co-op replaced aging on an iPad. And if you download our free app, you’ll elevators with ones that use something called permanent get our mid-month zine called Board Room. It offers magnet technology, finished a major façade job, and practical solutions to common problems we all face as will soon overhaul its mechanical systems (page 6); board directors. 227 Tenants Corp., a 20-unit building in the Upper Enjoy the issue. West Side-Central Park West historic district, replaced its windows and ran into Landmarks Preservation Commission requirements that caused replacement costs to balloon from $400,000 to $571,000 (page 33); PUBLISHER AND EDITOR-IN-CHIEF SERVING NEW YORK BOARD MEMBERS & PROPERTY MANAGERS OF CO-OPS & CONDOS JULY/AUGUST 2013 VOLUME 32 NUMBER 300 HABITAT® (ISSN-0745-0893; USPS 681- 510) The Magazine serving New York Co-op/ FOUNDED 1982 Condo Board Directors & Building Managers, is published monthly except for a combined issue in July/August by The Carol Group Ltd., 150 W. 30th St., Suite 902, New York, NY 10001. Periodical postage paid at New York, NY and at PUBLISHER AND EDITOR-IN-CHIEF CONTRIBUTING WRITERS WEB CONTENT EDITOR additional mailing offices. POST­MASTER: Send Carol J. Ott Dale J. Degenshein Frank Lovece address changes to: Habitat, 150 W. 30th St., [email protected] [email protected] Jennifer V. Hughes Suite 902, New York, NY 10001. Copyright © 2013 by The Carol Group Ltd. All rights EDITORIAL DIRECTOR Ronda Kaysen ADVERTISING DIRECTOR Stephen Hanks reserved. Reproduction in whole or in part Tom Soter Myles Mellor [email protected] [email protected] Bill Morris without permission is prohibited. The editors assume no responsibility for unsolicited Patrick B. Niland OPERATIONS MANAGER DIGITAL AND MANAGING EDITOR manuscripts or photographs. Postage must Eleanor Selling Jennifer Wu Ian MacFarland accom pany all materials if return is requested. [email protected] [email protected] Richard Siegler Editorial and Advertising Sales Offices: 150 ART DIRECTOR COLLECTIONS SUPERVISOR W. 30th St., Suite 902, New York, NY 10001; ASSOCIATE EDITOR Michael Gentile Bill Hoover (212) 505-2030 fax: (212) 254-6795. Co- Aparna Narayanan op/condo board corporate subscriptions are [email protected] [email protected] COVER PHOTO $70.00 per association, entitling up to 4 board EDITORIAL ASSISTANT CONTRIBUTING ARTIST Tom Soter directors to receive their own copies of each Kathryn Farrell Liza Donnelly issue. Additional board members’ subscription [email protected] rates can be found at www.habitatmag.com/ CONTRIBUTING PHOTOGRAPHERS subscribe. Individual subscriptions are $49.95 PROOFREADER Carol J. Ott for one year. Canadian and foreign subscribers Dave Baker Tom Soter must contact Habitat for rates. Single copies of Daniel Teboul most issues are available prepaid at $5. 4 HABITAT JULY/AUGUST 2013 WWW.HABItatMAG.COM REWARD YOUR CLIENTS AND REWARD YOURSELF When your customers purchase a new home, you can help them get a jump on their TV, Internet and Phone services.
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