Last updated: January 8, 2006
Building type: Cooperative
Corporation name: Nagle Apartments Corp.
Building address: Three buildings:
(1) 31 Nagle Avenue
(2) 37 Nagle Avenue
(3) 14 Bogardus Place
Managing agent: Roseann Randazzo
Blue Woods Management Group, Inc.
307 Seventh Avenue
Suite 604
New York, NY 10001
Tel: 212-645-7333
Fax: 212-366-4126
E-mail: manager[at]naborsapts.org
Total number of units: 111
Number of stories: Each building has 6 stories.
|
Unit Breakdown |
14 Bogardus |
31 Nagle |
37 Nagle |
Total |
% |
|
Owner-occupied |
27 |
30 |
30 |
87 |
78.4% |
|
Co-op-owned |
10 |
2 |
4 |
16 |
14.4% |
|
Investor/Sublet |
5 |
1 |
2 |
8 |
7.2% |
|
Sponsor-owned |
0 |
0 |
0 |
0 |
0.0% |
|
Total |
42 |
33 |
36 |
111 |
100% |
Date built: 1952
Co-op conversion date: 1982
Mortgage (established 4/16/03):
Balance: $2,700,000
Interest rate: 6.27% per annum
Monthly payment: $19,766 (includes interest and reduction of principal)
Payable to: National Cooperative Bank (NCB)
Maturation date: 1 May 2023
Note: This is a self-liquidating
mortgage on a 20-year amortization schedule. The mortgage will be completely
paid
off
on
the maturation
date of 1 May 2023.
Revolving line of credit:
Credit limit: $250,000
Balance: $0
(as of 3/31/04, the co-op has not drawn down a single penny)
Interest rate: 2% over the NCB Base Rate Index
Payable to: National Cooperative Bank
Maturation date: 1 May 2023
Reserve fund: $160,000 (as of 3/31/04)
Maximum financing allowed:
New purchase: 90% of purchase price
Refinancing: 80% of appraised value
Tax deductibility (2003 tax year):
Mortgage Interest = $13.1620 per share
Real Estate Tax = $12.0132 per share
Flip tax: None.
Fitness room: Available to shareholders only. Monthly fee is $15 per month per household, included in the maintenance bill.
Storage lockers: Lockers rented at $15 per month, included in the maintenance bill. Available to shareholders only via a waiting list, on a first-come, first-served basis. (All lockers are currently rented.)
Bicycle storage: Spaces available for rent at $2 per month, included in the maintenance bill. Available to shareholders only on a first-come, first-served basis.
Garage: Available at street level in 31 Nagle. The space is rented to an independent garage operator. Residents get a 10% discount off the monthly rates.
Washer/dryer permitted in apartment? No, they are not permitted. There are convenient laundry facilities in the basements of the buildings.
Wall-thru A/C permitted? No. Only casement-type air conditioners are permitted. A/C installation permitted only with prior approval of the board of directors, via the managing agent.
Allow Pets? Yes. Pets are permitted only if they do not create a nuisance. Dogs must be licensed by the New York City Department of Health. Cats must be spayed or neutered and must have received all customary immunizations. For more information, see the Pets entry in the Co-op Handbook.
Subleasing: Permitted for a cumulative maximum of 2 years out of every 6-year period. For more information, see the Sublet Policy.
Subleasing fee: $20 per share per year, prorated for subleases that are shorter than one year in length. For more information, see the Sublet Policy.
Is there a ground lease? No.
Expiration date of Proprietary Lease: 30 September 2080.
Electricity included in maintenance? The monthly maintenance fee does not include electricity. Electricity usage is added to the maintenance bill as a separate charge.
Maintenance: $5.20 per share, effective as of 1 January 2006.
Late Fee: $40 per month if payment is not received within the grace period (by the 15th day of the month).
Current assessments: Due to the current extraordinary increases in energy expenses, the co-op board has been forced to levy an energy assessment in 2006 for the first time ever to be able to cover the co-op's increased energy costs. The assessment is in the amount of $0.20 per share per month for the duration of 2006. Energy expenses will be re-evaluated in mid-2006 — if the expenses fall below the budgeted energy expense estimates that necessitated the assessment, the board will recalculate the energy budget needs and issue refunds to shareholders.
Doorman? No.
Open houses permitted? Open houses are permitted only with the prior consent of the Board of Directors, via the managing agent.
Access to the Board minutes? Yes. Contact the managing agent.
Move-in fee: $250 fee to help defray costs of extra cleanup work on the part of the superintendent and porter, plus a $200 refundable deposit in case of damage.
Move-out fee: $250 fee to help defray costs of extra cleanup work on the part of the superintendent and porter, plus a $200 refundable deposit in case of damage.
Application fee: $300 (payable to management company)
Financing fee: $250 (payable to management company)
Credit check fee: $75
NOTE: This fact sheet is for information purposes only and does not constitute a representation, warranty or estoppel on the part of Nagle Apartments Corp. or any of its officers or agents. This information is subject to change.