Newsletter #168 Acrobat file Return to archive Newsletter #170
350 BLEECKER STREET CO-OP
NEWSLETTER
#169
October 22, 2003
Following are highlights of board discussions and building developments for September and October. The board encourages everyone to contact board members with comments or questions, to come to the design committee meetings to discuss appearance and other visual details, and to share ideas about the ongoing betterment of the building.
Also, please check the display case outside the mailroom for ongoing building updates and information.
BUILDING UPGRADES
Lobby: The lighting fixtures (an example is installed in the center of the lobby) are due in a few days, and installation is due to begin immediately upon their arrival. Subsequently the ceiling will be painted, and following completion of the stairwell painting, individual apartment doors, by resident request (advance notice will be provided).
Flowers: For a long time, the board planned to provide flowers in the lobby. Thanks to Helen
& Jack Katz, of the garden committee, we now have beautiful flowers from Hawaii to come home to.
Mailroom:
. We received an excellent price, $700, and great service from the marble-shelf vendor, a
contact of Rifo's, in case you are interested in marble or granite work for your apartment.
. Please take advantage of the bulletin board to post items for sale, services, or other
information.
Stairways: The South stairway and stairs to the basement painting is complete and the North stairway prepping and painting started. After the North stairway is done, the last step will be the stairs leading from the 6th floor to the roof.
Library: Books in the alcove part of the gym were donated to the Village Care Nursing Home, who were very appreciative of the donation (see letter from VCNY in Notice Display
Case outside mailroom). The design committee is investigating bicycle storage in that space, and the Library continues on in the main part of the gym.
Gym: Anyone interested in serving on the gym upgrade committee, please contact Maura
Geils, 212.675.1787.
MAINTENANCE PAYMENTS -- SAVE $50
Shareholders can automatically deduct maintenance payments each month, thus having one less item on a to-do list and never paying a $50 late fee. Please check the web-site for the form, or ask a board member.
WELCOME
To our newest neighbor, Zak, born last month to Lauren & Jim Heidenry on the 5th floor. Congratulations to Helen & Jack Katz on the arrival in their lives of Domino.
ROOF GARDEN
This season's last Roof Party was held on a spectacular October day, on 10/13. The Garden committee wants to remind and urge any residents who have plants in small pots in the Roof Garden to bring them into their apartments before the end of October, as they might not survive the winter.
FINANCIALS
Attached are the current financial statements
CHARLES STREET ASSOCIATION
The building is a member and gave a donation $200; anyone who wants to join, contact the association.
COMMITTEES
The building has several committees in order to facilitate everyone's ideas and representation.
If you are interested in participating, please contact members of that committee or any board member:
Garden -- Helen & Jack Katz
Gym - Maura Geils
Design - Rob Geils
350 Bleecker Street Apartment Corp.
January thru August 2003 spending vs budget
(unaudited)
| Jan thru | ||||||||
| August | ||||||||
| Jan thru | 2003 | versus annual | ||||||
| Aug-03 | Budget | budget | ||||||
| Income | ||||||||
| Commercial Rent | $33,206 | $124,000 | 27% | |||||
| Laundry Income | 9,233 | 12,000 | 77% | |||||
| Transfer Fees (2% of sales price) | 74,980 | 89,500 | 84% | |||||
| Maintenance | 777,885 | 1,070,520 | 73% | |||||
| Bike Room | 0 | 1,400 | ||||||
| Interest and dividends | 1,773 | 4,000 | ||||||
| Late fees | 1,250 | 2,400 | ||||||
| Lockers | 10,808 | 6,000 | ||||||
| Repair charges | 0 | 2,500 | ||||||
| Sublet fees | 0 | 1,200 | ||||||
| Misc income | -150 | 0 | ||||||
| Subtotal other income (Bike Rm thru Misc incom | 13,681 | 17,500 | 78% | |||||
| Total Income | $908,985 | $1,313,520 | 69% | |||||
| Expenses: | ||||||||
| Real Estate Tax | $95,382 | $430,350 | 22% | |||||
| Mortgage Interest & Principal | 149,565 | 250,325 | 60% | |||||
| Other Taxes | 5,698 | 14,000 | 41% | |||||
| Subtotal taxes and interest | 250,645 | 694,675 | 36% | |||||
| Insurance | 42,317 | 55,000 | 77% | |||||
| Management Fee (Tudor) | 27,940 | 41,910 | 67% | |||||
| Legal Fees | 559,818 | 125,000 | 448% | |||||
| Accounting | 7,381 | 8,300 | 89% | |||||
| Bank charges | 542 | 100 | ||||||
| Dues and subscriptions | 1,251 | 2,500 | ||||||
| Internet site | 100 | 500 | ||||||
| Licenses, permits, violations, inspections, consulting | 2,282 | 250 | ||||||
| Misc | 44 | 3,000 | ||||||
| Phone | 775 | 1,000 | ||||||
| Postage | 734 | 600 | ||||||
| Printing | 219 | 1,000 | ||||||
| Security system | 417 | 2,500 | ||||||
| Subtotal all other (Bank Charges thru Security) | 6,365 | 11,450 | 56% | |||||
| Total Administration | 643,821 | 241,660 | 266% | |||||
| Medical + dental insurance + ADP fees | 20,523 | 25,600 | ||||||
| Payroll (incl Worker's Comp) | 143,838 | 200,000 | ||||||
| Subtotal labor (ADP thru Payroll) | 164,361 | 225,600 | 73% | |||||
| Cable TV | 202 | 300 | ||||||
| Electricity + gas for cooking | 14,252 | 21,500 | ||||||
| Gas for steam heat + hot water | 43,229 | 32,000 | ||||||
| Water and sewer | 9,087 | 25,000 | ||||||
| Subtotal Utilities | 66,770 | 78,800 | 85% | |||||
| Architect + engineer + inspection + consulting | 3,625 | 500 | ||||||
| Boiler, plumbing, a/c | 3,934 | 7,500 | ||||||
| Electrician | 550 | 1,000 | ||||||
| Elevator | 5,923 | 10,000 | ||||||
| Equipment repair | 0 | 1,500 | ||||||
| Exercise Room | 333 | 2,000 | ||||||
| Exterminator | 1,156 | 1,400 | ||||||
| Garden supplies | 250 | 1,750 | ||||||
| Janitorial supplies | 12,567 | 13,000 | ||||||
| Landscaping | 6,087 | 10,000 | ||||||
| Other physical upkeep | 4,339 | 3,000 | ||||||
| Other repairs | 271 | 8,000 | ||||||
| Painting touch up + carpet repair | 0 | 3,500 | ||||||
| Tools | 0 | 1,500 | ||||||
| Uniform cleaning | 0 | 600 | ||||||
| Subtotal Maint & Repairs (Arch thru Uniform) | 39,035 | 65,250 | 60% | |||||
| Contingency | 0 | 20,000 | 0% | |||||
| Carpet and painting and lobby a/c | 37,740 | 40,000 | 94% | |||||
| Mailbox replacement, interior lighting | 11,010 | 15,000 | 73% | |||||
| Subtotal Construction/Capital Projects | 48,750 | 55,000 | 89% | |||||
| Total Expense | $1,213,382 | $1,380,985 | 88% | |||||
| Tax rebate for 2003 | 0 | $68,421 | 0% | |||||
| Net Income/(Loss) | -$304,396 | $956 | ||||||
Footnotes:
At the end of August 2003, the co-op had $227,821 in cash.
Newsletter 168 Acrobat file Return to archive Newsletter #170
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350 Bleecker Street Apartment Corp.
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