Washington Plaza

[7]

No, the residents don't control the board. The Sponsor does, and she always will. I don't believe she ever plans to own less than 51%.

Are you sure? There is probably a clause that if 50% of the apartments (well, shares) aren't sold by date XYZ, then the sponsor would automatically lose control of the board on that date anyway. It would be a bit strange if the sponsor could control the board indefinitely.

[Lilybell]

I admit the board control issue confuses me. We've always been told that we will gain control once 51% of the units are sold and I think we just hit that mark. But we all chose to vote for the CFO of the owner's management company to be on the board at our last meeting - so we are actually helping her keep control. However, I have been happy with her decisions so far; Washington Plaza is her "baby" and she truly cares about the complex (and the CFO knows his stuff).

[7]

Hmm. Our understanding is that the sponsor still owns most of the apartments, but I'm not sure how many shares the unsold apartments have...

Unrelated: we also saw some comments from back in 2016 that FiOS was being installed, but it seems like that never finished. Does anyone know what the status is now?

[Lilybell]

Still no FiOS!

[jh35]

Still no FiOS!

As I have said before, the FIOS cable has been in the basement for a few years but the owners will not let Verizon wire the building. A few years ago, the copper cable from the Central Office was partially cut and they put in a new copper cable. They put in the FIOS cable at the same time.

I was told that they will allow the building to be wired for FIOS AFTER the halls are renovated. Verizon has a waiting list, so even after the owners allow Verizon to start work, it could take a year.

The building across the street, 7412 35th ave, has had FIOS for a while.

Unrelated...Verizon sent letters saying that they are discontinuing the copper line to the building within a year.

[7]

Thank you very much for the details!

By the way, here's the new (non-combined?) apartment with the washing machine:

https://streeteasy.com/building/washington-plaza/d5

[dssjh]

nice renovation, but carving 3 bedrooms out of a space that's under 800 square feet? those must be pretty small rooms.

[NYUDan78]

It's a misprint. The unit is actually 1260 square feet. I've attached the layout.

[dssjh]

thank you! that seems much more plausible. our two BR is just under 1200 (not at Washington Plaza) and both bedrooms are decent sized.

[Simka]

I admit the board control issue confuses me. We've always been told that we will gain control once 51% of the units are sold and I think we just hit that mark. But we all chose to vote for the CFO of the owner's management company to be on the board at our last meeting - so we are actually helping her keep control. However, I have been happy with her decisions so far; Washington Plaza is her "baby" and she truly cares about the complex (and the CFO knows his stuff).

I'm confused now. Who is "her"? The sponsors are the landlords, right? Is she the main one?

Also, are they giving a projected date for the gym yet?

[MrPlaza]

“Her” is Marilyn. The face of the sponsor group. She’s pretty much the one leading it all, and it’s by understanding that her family has owned the building for many years. As far as ownership goes, I think folks are forgetting that the rental units are still under sponsor control. I thought those count as ownership. I believe 51% of all the units in the building need to be sold, and there are still a lot of rental units.

As for that new 3BR. Looks pretty sweet. Love how unique of a layout it is.

[Simka]

As far as ownership goes, I think folks are forgetting that the rental units are still under sponsor control. I thought those count as ownership. I believe 51% of all the units in the building need to be sold, and there are still a lot of rental units.

I think you're right. I'm sure it's spelled out in the bylaws.

[Joyce45]

Would be nice to get a status update on the hallways since we are in the 3rd quarter. The end of the year with all the non-working holidays will be here before we know it. I need the gym for health reasons and would be disappointed if it were further delayed given they'll be juggling the construction and sales of new units. Does anyone know?

[MrPlaza]

My guess: Behind schedule. Like everything else. Personally, I’m interested in knowing when the hell the perimeter fence is being replaced. I have a scar from when one of the loose parts cut my arm last year, and I get anxious about walking too close to it. Especially my son.

[Simka]

My guess: Behind schedule. Like everything else. Personally, I’m interested in knowing when the hell the perimeter fence is being replaced. I have a scar from when one of the loose parts cut my arm last year, and I get anxious about walking too close to it. Especially my son.

Oh, wow! Did you complain to management?