Monthly Archives: January 2015

Garage roof and interior repair program (update, 2015-01-26)

The following is a reproduction of a memo from Managing Agent Justin Verret, sent to shareholders on 26 January 2015.

(View/download the scanned memo [PDF, 185KB].)

To: All Residents of The Nagle Apartments
From: Justin Verret
Re: Garage Roof and Interior Repair Program
Date: 26 January 2015

As the garage interior project enters into its 6th month, the upper level is close to being completed. Over the next 3–4 weeks, the insulation and insulated panels are being installed below the residential areas, the walls are being painted, and the new garage floor epoxy covering is being applied. There is still some concrete work that is being completed to fulfill the required fire proofing.

While work is being completed on the first floor, the structural steel repairs is being done on the bottom floor. This work does not require as much concrete removal and does not require concrete forms to be built. This means that the work on that level will have less noise and vibration impact. There will still be noise and vibrations, just not as much as the first level. The structural work on this revel is anticipated to be done in March. The bottom floor’s walls and floor can be completed at that time. Xinos has increased their crew size to try to finish this work even earlier.

The first floor cannot be open for cars until the floor is completed and the structural work is completed below and signed off by the city. The structural work is being done from the front of the garage to the back so that the first floor can be opened in sections for operation. An update will be given on that timing in 3–4 weeks.

The garage roof level is still a construction area and should not be accessed for regular passage or recreational activities at any time. The board has interviewed landscape designers for the garage roof deck installation. An announcement on that design will be made at a later date. Please stay off the roof for general purposes until further notified.

Personal income tax return data for 2014

The following is a reproduction of a memo sent on 12 January 2015 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP.

(View/download the scanned memo [PDF, 153KB].)



Dear Shareholders:

Under the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a Cooperative apartment is entitled to deduct from personal gross income a proportionate share of interest and real estate tax paid or incurred by the Cooperative Corporation. Note that these deductions are generally available if the taxpayer itemizes tax deductions.

For the year 2014 your Per Share individual income tax deductions are as follows:

MORTGAGE INTEREST    $10.2019 per share

REAL ESTATE TAX    $22.3664 per share

For the year 2014, if you were granted any real estate tax abatements, reflected in a maintenance credit or received by check, your real estate tax deduction as stated above should be reduced by the amount of the abatements you received.

In order to compute your total deductions for 2014, multiply the number of shares owned by you, as indicated on your stock certificate, by the amounts per share stated above. If you became a stockholder, or sold your stock in the Corporation during 2014, you are permitted to deduct a fractional part of the figures, based on the proportionate part of the year you owned the stock.

Contributed capital in 2014 was $22.8877 per share for mortgage amortization and $5.3400 per share for capital assessment. This is not a deduction, but an increase in the basis of your investment.

Should you have any questions regarding the application of the aforementioned information to your individual income tax returns, please consult your personal tax advisor.

Certified Public Accountants

NaBors is now enrolled in e-cycleNYC!


To make electronics recycling convenient and environmentally sustainable, New York City launched e-cycleNYC in partnership with Electronic Recyclers International, an industry leader in responsible electronics recycling.

Why recycle electronics

Electronics often contain lead, mercury, and other hazardous materials that can leech into the environment if not properly discarded. Responsibly recycling electronics keeps these hazardous materials out of the waste stream.

As of January 2015, it is illegal for New Yorkers to discard electronics in the trash. Participating in e-cycleNYC enables our building to comply with this law by providing a convenient way for our residents to discard their electronics.

How to participate

Please deposit accepted items (described below) in the e-cycleNYC receptacle, located by the elevator in the basement of 37 Nagle Avenue.

What is accepted


What is NOT accepted


Appliances: If predominantly metal or rigid plastic, recycle these with other metal and plastic recyclables, otherwise discard as trash.

Batteries: Bring rechargeable batteries to any store that sells them, such as a pharmacy, office supply, or hardware store. Rechargeable batteries may contain mercury, cadmium, lead and other heavy metals which can be dangerous if not disposed of properly. Alkaline batteries can be discarded in the trash. Standard alkaline batteries are not considered hazardous waste, since they no longer contain mercury.

Fluorescent Bulbs: Compact fluorescent bulbs can be dropped off for free recycling at any Home Depot, IKEA, Lowes, or other participating retailers. CFLs and other fluorescents can be brought to any of NYC Department of Sanitation’s Household Special Waste Drop-Off Sites or upcoming SAFE disposal events.

What happens to stored data

You can remove data from the electronics prior to discarding. Any remaining data will be fully erased as part of the recycling process.

What happens to the electronics collected

All electronics are recycled domestically using the strictest environmental standards available.

e-cycleNYC receptacle in the basement of 37 Nagle Avenue

e-cycleNYC receptacle in the basement of 37 Nagle Avenue