This post has been read 4794 times!
The owners voted to do the renovations, below.
January 26, 2013 By Steven E. Greer
A group of apartment owners in 200 Rector Place are putting up for a vote a proposal that would overhaul the dilapidated, seldom used, rooftop pool and gym that has fallen into disrepair. For more than a decade, Milford Management has operated a substandard complex that required a full year of membership paid upfront, and provided limited hours during the week days, old fitness equipment, and pool in need of repair. The solarium has also developed leaks.
Rooftop properties with great views of Manhattan are premium assets and the owner believe that by renovating the area, converting it into a common space free for all members to use, it will increase property values as well benefit the residents.
An information flier circulated by the owner’s group states that a 1% increase in monthly building maintenance fees (an extra $16 per month for someone with a current $1,600 fee) would be enough to fund the project. The cost to operate the new rooftop would be $130,000 per year, including an extra porter staff, and a build cost of $1,000,000.
The new common area would have furniture for meetings and a service bar open to all residents. The pool would still require a membership. To be removed will be a kitchen in place now that is not used, along with locker rooms rarely used, adding 2,000 square feet of usable space.
The plan will be voted on February 26th. The Milstein company, and their Milford Management, is expected to go along with the outcome of the vote.