Newsletter #202 Acrobat file Return to archive Newsletter #204
350 BLEECKER STREET CO-OP NEWSLETTER #203
July 14, 2007
The board met on July 10, 2007 and the Design Committee met on July 9, 2007. Among the items discussed:
HALLWAY LIGHTS
The Design Committee unanimously chose a florescent fixture sold by Luce Plan. The fixture, known as "Light Disc" can be seen on our website: http://www.350bleecker.com/design/randall/sell.html.
The new fixture meets all our needs: it is efficient, easy to install, and has a very low profile. The committee has obtained a sample to install in front of apartment 1E. If the test is successful, all the hallway fixtures will be replaced.
The committee has looked at hundreds of hallways, and has evaluated many designs. In addition, members of the committee have visited lighting stores and carpet supply houses to get samples and catalogs.
DOORMAN STATION
The Design Committee unanimously approved a doorman station for the lobby. The drawings for the doorman's console are posted on the website: http://www.350bleecker.com/doorman/station.html.
ROOF GARDEN FIRE HAZARD
The Roof Garden committee found several cigarette butts next to dry leaves below the deck of the garden. The members of the committee were upset that people were smoking on the roof.
The board will build more cameras to catch the few people who are breaking the roof rules. There was a fire on the roof five years ago. At that time, the board imposed a $2,500 roof charge to the shareholder.
Smoking or open flames, such as candles, on the roof are extremely dangerous and reflect a wanton disregard for the safety of all other building residents. Such reckless conduct may violate the proprietary lease and expose the shareholder/tenant to possible eviction.
If you are on the roof and someone is smoking, please ask them to stop. Your home may be destroyed by fire.
CO-OP NEWSLETTER ON RSS FEED
Our website now features an RSS feed for web browser applications that can subscribe to it, such as Firefox, Safari, etc. The address for the feed is: feed://www.350bleecker.com/rss/feed.xml. By using the feed, you can easily search newsletters by date, title, or keywords.
ANIMALS BANNED FROM THE GYM
The board has banned all pets from the gym. Last week a woman's dog left a mess that was cleaned by the staff. She was charged for the cleaning and staff time.
DUPLEX APARTMENT DISCUSSION
A shareholder asked the board if he could combine an apartment between two floors. The board consulted its engineer, who had no objections to the proposal, provided a detailed set of structural drawings were submitted by the shareholder that could be reviewed.
The board voted to approve the proposal, subject to final review by our engineer.
HYDROPONIC GREENHOUSE
The co-op has always tried to make the building as "green" as possible, given the constraints of a building constructed in 1960. It is often difficult to add energy saving items that have a good return on investment.
New York Sun Works, a non-profit energy savings group, will propose energy savings plans for the building, including the possibility of building a hydroponic greenhouse, either on the roof or above the stores. It is possible that we could grow enough food and vegetables to make our co-op an urban farm.
The board will evaluate the proposal, and weigh the costs against the positive benefits of improving our energy footprint.
COURTYARD BARBEQUE
The co-op will have its first annual pot luck barbeque on July 28, 2007 7:00 PM in the courtyard. Everyone who lives in the building is invited. Access to the courtyard is through the mail room.
Bring refreshments, hamburgers, hot dogs, and marshmallows!
350 Bleecker Street Apartment Corp
January thru June 2007 Spending versus Budget
(Unaudited)
|
|
|||
| Jan thru Jun | |||
| Jan thru | 2,007 | versus annual | |
| 06/30/07 | Budget | Budget | |
| Income | |||
| Maintenance | 599,057 | 1,198,113 | 50% |
| Special Assesment of Tax Rebate | 87,986 | 80,000 | 110% |
| Late fees | 952 | 1,000 | 95% |
| Sublet fees | 9,720 | 17,000 | 57% |
| Transfer Fees (2% of sales price) | 0 | 0 | 0% |
| Repair charges | 1,476 | 0 | |
| Shareholders Total | 699,190 | 1,296,113 | 54% |
| Commercial Rent | 43,000 | 86,000 | 50% |
| Additional Commercial Rent | 0 | 6,000 | 0% |
| Commercial Tenants | 43,000 | 92,000 | 47% |
| Closet/Storage Charge | 125 | 2,000 | 6% |
| Hallway Space | 237 | 0 | |
| Bike Room | 2,625 | 3,600 | 73% |
| Laundry Income | 4,579 | 14,000 | 33% |
| Fees and Other Income | 3,745 | 3,712 | 101% |
| Other Building Income | 11,311 | 23,312 | 49% |
| Interest and dividends | 633 | 1,500 | 42% |
| Total Income | 754,134 | 1,412,925 | 53% |
| Expenses: | |||
| Payroll | |||
| Medical + dental insurance + ADP fees | 21,454 | 37,188 | 58% |
| Payroll (incl Worker's Comp) | 118,845 | 230,248 | 52% |
| Subtotal labor | 140,299 | 267,436 | 52% |
| Utilities | |||
| Gas for steam heat + hot water | 40,682 | 52,000 | 78% |
| Electricity + gas for cooking | 14,140 | 46,500 | 30% |
| Water & Sewer | 10,196 | 25,000 | 41% |
| Subtotal Utilities | 65,018 | 123,500 | 53% |
| Building Services | |||
| Internet Services | 0 | 0 | 0% |
| Cable TV | 288 | 488 | 59% |
| Exterminator | 3,213 | 3,500 | 92% |
| Landscaping | 7,184 | 12,500 | 57% |
| Exercise Room | 6,807 | 1,000 | 681% |
| Rubbish Removal | 160 | 0 | 0% |
| Elevator Service | 4,649 | 9,763 | 48% |
| Uniform cleaning | 263 | 500 | 53% |
| Heating and Water Service | 526 | 0 | |
| Subtotal Services | 23,090 | 27,751 | 83% |
| Repairs | |||
| Boiler, Plumbing, Compactor, A/C Repairs | 3,002 | 6,000 | 50% |
| Electrical Repairs | 0 | 1,000 | 0% |
| Elevator Repairs | 1,599 | 500 | 320% |
| Heating Repairs | 748 | 5,000 | 15% |
| Painting Repairs | 0 | 500 | 0% |
| Tenant Repairs | 0 | 2,500 | 0% |
| Other Repairs | 10,353 | 10,000 | 104% |
| Janitorial supplies | 8,570 | 22,500 | 38% |
| Subtotal Repairs | 24,271 | 48,000 | 51% |
| Professional Services | |||
| Management Fee (Tudor) | 23,930 | 47,859 | 50% |
| Accounting | 5,115 | 8,400 | 61% |
| Legal Fees | 8,582 | 10,000 | 86% |
| Architect/engineer/insp/consulting | 936 | 2,000 | 47% |
| Professional Services Sub | 38,562 | 68,259 | 56% |
| Insurance | 24,778 | 56,239 | 44% |
| Other Expenses | |||
| Mortgage Interest & Principal | 125,163 | 250,325 | 50% |
| Dues and subscriptions | 612 | 4,000 | 15% |
| Other Building Expenses | 41 | 1,000 | 4% |
| Subtotal Other Expenses | 125,816 | 255,325 | 49% |
| Office Expenses | |||
| Phone | 520 | 1,200 | 43% |
| Postage/Delivery | 354 | 1,050 | 34% |
| Stationary | 0 | 100 | 0% |
| Subtotal Office Expenses | 873 | 2,350 | 37% |
| Travel and G&A | 445 | 500 | 89% |
| Real Estate Tax | 275,672 | 555,765 | 50% |
| Contingency | 0 | 7,800 | 0% |
| Reserve for Capital Budget | 0 | 0 | 0% |
| Total Expense | 718,823 | 1,412,925 | 51% |
| Tax rebate for 2006 | 87,986 | 80,000 | 110% |
| Net Income/(Loss) | 123,297 | 80,000 | 154% |
Footnote: at the end of June 2007 the co-op had $424,933.34 in cash.
Newsletter #202 Acrobat file Return to archive Newsletter #204
Copyright © 2010
350 Bleecker Street Apartment Corp.
All rights reserved.