Tell us what’s on your mind? 
- This topic has 2,116 replies, 2 voices, and was last updated 5 minutes ago by
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Year 2020 2.75 p/share x 320,000 shares =
$ 880,000.00 P/month
$ 10,560,000.00 Annual
$ 2,549,471.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
Year 2021 2.83 p/share x 320,000 shares =
$ 905,600.00 P/month
$ 10,867,200.00 Annual
$ 2,554,025.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
Year 2022 2.83 p/share x 320,000 shares =
$ 905,600.00 P/month
$ 10,867,200.00 Annual
$ 2,670,012.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
Year 2023 2.95 p/share x 320,000 shares =
$ 942,785.73 P/month
$ 11,313,428.76 Annual
$ 2,587,513.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
$ 1,393,536.00 [Special As.sessment] 4.35 p/share x 320,000 shares
Year 2024 3.08 p/share x 320,000 shares =
$ 987,100.00 P/month
$ 11,845,200.00 Annual
$ 2,087,103.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
$ 1,447,424.00 [Special As.sessment] 4.52 p/share x 320,000 shares
Year 2025 3.27 p/share x 320,000 shares =
$ 1,046,328.58 P/month
$ 12,555,942.96 Annual
$ 2,257,012.00 [NYC tax reduction] NYC tax abatement/credits for shareholders
$ 1,487,616.00 [Special As.sessment] 4.65 p/share x 320,000 shares
REVISED CO-OP INCOME PROJECTIONS
Part of Park City 3 and 4 Apartments, Inc. annual incomes are based upon its New York State registered 320,000 total shares.
Below are the month and annual maintenance projections; the Special As.sessment projections; and the tax break the co-op gets for dispersing the NYC tax abatement and benefit credits to the shareholders each June.*
To the below.
Sadly our situation is by no means a unique issue and actually a fairly common one. The problem with coop laws is the laws themselves arent clear who is responsible for enforcement which means it defaults to the AG
Does anyone know if this was in reference to us: nytimes.com/2025/05/31/realestate/co-op-board-elections.html
All fixed.
I want to thank those of you still using the website despite the lack of https.
Https is predominantly an as*surance/caution for businesses!
We are basically a co-op blog. No one knows who posted anything as the website was structured to not identify visitors. There is no retention of the devices used to post comments.
The problem is that a company named Digital Ocean {DO} is responsible for posting the https to websites.
They did a ma*ssive maintenance overhall in May 2025. We believe that rebooted their system – and our website – to day one.
Our site was built in 2020 and the builder is no longer with us. We have no record of the original 2020 pa*sswords. We most recently revised the website pa*sswords in May of 2024. Due the DO change in May 2025, our pa*sswords from 2024 are no longer active and we cannot comply with their automated Certificate Activation.
If it was a really serious issue their monthly Certificate Activation fee would be more than the $7.73 that I auto pay.
We are working on this – dealing with techs who use automated text to reply and don’t understand the full effect of their maintenance work.
The site is SAFE – always has been – and you can continue to ignore the ridiculous WARNING that is there – intended for companies who retain confidential info and lists.
You may continue to use THOUGHTS without fear and please also inform the Signal Group.
The NYC Special As*essment blog should interest them as well.
Ron Migut
9740 6-L
A fact is that for 3 consecutive years we’ve paid over one million dollars as a Special As*essment. In addition, every year the co-op gets a two million dollar free ride on NYC taxes because the co-op disburses the NYC tax credits to shareholders (instead of paying the credits directly to every shareholder).
In NYC co-ops and condos can charge Special As*essments FOR THE PURPOSE OF A FUTURE EXPENDITURE.
This is explained in the following Brooklyn blog:
What is a co-op special assessment in NYC?
Nov 17, 2023
What are co-op assessments used for?
Assessments are typically used to raise necessary funds for a specific and costly building
improvement project. The most common reasons for assessments include repairs to expensive
building components including the façade, roof, elevator and heating systems. Assessments
can also be implemented to pay for aesthetic building upgrades including a lobby renovation,
hallway re-carpeting, installation of a roof deck or any other project deemed worthwhile by
the co-op building.As a co-op shareholder, you can advocate for and against various proposed improvements
and other repairs which may be under consideration by your building.
Special assessments can be further subdivided into capital assessments and operating
assessments. The proceeds of capital assessments are used to make long-term repairs and
upgrades to a building, while ‘operating assessments’ are used to fund the ongoing operation
of a building.Our board has not said a word about a future improvement – nor have they presented any proposed expense to the shareholders. They’ve taken the God-like stance that their actions cannot be challenged. Once again, WRITE to the NYS Atttorney General. Tell her the co-op is corrupt with nepotism, padded voting, discrimination, and millions of dollars for unaccounted for assessments. Phone calls don’t do anything. WRITE!
ContactOffice of the New York State Attorney General
The Capitol
Albany NY 12224-0341Anyone saying the truth is an ***kisser ?
Written like the true david/zarina **s kisser that you are
After reading this article we supposed to be kissing akam and the boards behinds !! I mean it .
You have no idea how good you have it . I went to my cousins coop on Yellow Stone Blvd over the weekend , to find their marble floors black & grey !!! Building was disgusting inside and outside . You have no idea how good we have it right now until another Chandra Jain and a Vulnerable board comes around and show you some reality !!!
are you really going to PROTEST for a 6% increase while other buildings are getting 25%-35% right here in Queens ? Do not make yourself lower than what you already are !!!
peace yall
A proposed spike in monthly fees at one of the largest co-ops in the country is causing outrage in Queens.This is what we should do as well,
As people on the video
Protest against MISMANAGEMENT
And get attention and help from local news !People, check fresh news about major coop building apartments in Queens, it was on the news on Wednesday, i can’t send a link here or post anything
Ron change your settings
you don’t allow to post anyone here ?
The Lead Supers name is Enes.
The Board is not going to do anything since they are just puppets.
It is up to the shareholders to do organize and clean house. And who is the maintenance supervisor? There are so many new faces everywhere.In reply to the comment from May 7, 2025 at 3:23 pm; re terrible job
this question needs to be addressed to the board and management
you asking questions like these and the answer is so obvious
all that needs to do is start writing to DA office
