[Guest]

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.

[Guest]

the water is turned off in some lines because they are  renovating a kitchen or bathroom but the office wont tell you about that

 

[Guest]

p.s.

meant to typ

We must act

[Guest]

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

[Guest]

That’s to make it look like money is being spent on “repairs” . Wake  up and smell the coffee !

[Guest]

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.

[Guest]

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

[Guest]

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

[Guest]

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.*

 

[Guest]

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

[Guest]

Does anyone know if this was in reference to us:  nytimes.com/2025/05/31/realestate/co-op-board-elections.html

[Guest]

All fixed.

[Guest]

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

[ThoughtsAdmin]

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!

Contact

Office of the New York State Attorney General
The Capitol
Albany NY 12224-0341

 

[Guest]

Anyone saying the truth is an ***kisser ?

[Author]

Posts