Thinking of not paying your NYC co-op maintenance?

This Sunday’s NYT Ask Real estate column talks about a shareholder in co-op who after discovering that their pool will be closed for the summer, threatens to withhold maintenance. The article goes on to point out that rightfully so that is not a good idea. Likely, that person will incur all sorts of charges including legal fees. Also suing the co-op means suing yourself as well and paying for the co-op to defend itself against your suit so that does not make sense either. The best advice given is to examine the bylaws to determine is leadership on the Board is lacking and consider ousting these members. It’s really a no-win situation and none of the above will open the pool in time to show off your washboard abs…

The Schwab House 11 Riverside drive

The Schwab house at 11 Riverside drive is a massive postwar co-op built in 1951 and converted to co-op in 1984. Located between 73rd and 74 street, there is an entrance on Riverside drive and an entrance on West end avenue as well. The building features a roof deck, exercise room, children’s playroom and garage.

Current availabilities in this pied-a-terre friendly building range from a studio for $450k to a 3 bedroom/3bath that is asking $2.85 million. According to Streeteasy, 5 of the 7 listings are in contract. The apartment for $2.85 million took less than 1 month to go to contract and had direct river views.