Tell us what’s on your mind? 
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So they finally issued a newsletter that says absolutely nothing. In the past 3 years they accrued over FORTY-SIX MILLION DOLLARS from maintenance, Special As*essments , NYC tax reductions and – if there’s any real truth to what they wrote – then they used FORTY-SIX MILLION DOLLARS to buy new hedges and replace some water tanks and OH lets not forget the new door handles.
I wonder how much has been spent on those “special bonuses” they said were for workers who excelled beyond their jobs? Does that mean David gets a bonus for showing up SOME OF THE TIME? or Scott for being there to hold Davids hand? How abut a bonus for Rackhmin because his companies resell us supplies that he buys from other retailers? How much has gone into the pockets of Zarina and the fat lawyer????
When we have the meeting make sure to ask the board questions – not David- not the big mouth lawyer. ask the board members because we voted for them and their obligation is to answer to the shareholders. Ask – how much were the hedges and why were they even needed? How much were the new (or maybe used) water tanks; who installed them; and WHY are our maintenance staff working mostly on renovating empty apartments????
SCAMMERS IN RUSSIA AND POLAND ARE POSTING NONSENSE COMMENTS. THEY WILL BE DELETED.
PLEASE IGNORE THEM AND CONTINUE WITH YOUR CO-OP COMMENTS.
Are they inspecting so often so they can keep fining tenants. I understand they have the right to inspect, but only months apart?
The reason we have so many water shutdowns is because we have a manager that doesn’t know a up pipe from a down pipe and that goes for his rear end and any hole in the ground too.
Shareholders NOTE.
An overseas ad company has been inserting medical references into THOUGHTS – usually twice a day.
I delete them as soon as I see them.
They are not sanctioned by One Voice.
Ignore them and continue to post your comments. YOUR comments will remain intact.
Office won’t tell you about it because they don’t know. It’s their “lead super” making money behind david’s back using fooled staff personnel.
the water is turned off in some lines because they are renovating a kitchen or bathroom but the office wont tell you about that
p.s.
meant to typ
We must act
We already awaken long time ago
how about some meaningful actions …we asking questions here … and that’s good
but we just act …don’t be so submissive people
That’s to make it look like money is being spent on “repairs” . Wake up and smell the coffee !
Why is the water constantly being turned off in the buildings? How many emergency repairs can we have? It is getting to be at least once a moth.
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.*
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
* The NYC tax abatement and benefit credits are supposed to be dispersed to the individual shareholders each June.
NYC allows the co-op to credit those amounts to the individual shareholders on each year’s June maintenance bill and NYC reduces the tax that the co-op owes by the amount of those dispersed shareholder credits.
Please note the accountant’s financials have always used the gross taxes due with no regard to the tax savings allotted by the NYC DoF . That is a common accounting practice and it’s deceptive to the shareholders.
Ron
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
