Co-op Fees & Fines

Building Fees

Selling / Buying of Units

To be paid by selling shareholder

  • Stock certificate and transfer fee (by endorsed certified or bank cashier’s check), to managing agent: $600
  • Additional unit Sale (same parties, documents, and closing), to managing agent: $350
  • Estate Unit Sale, to managing agent: $750
  • Adjournment of Closing (at closing or less than 24 hours prior notice of postponement), to managing agent: $150
  • Closing Documents Sent in Advance of Closing Date (by either party), to managing agent: $100
  • Replacement of Lost Stock Certificate or Lease Upon Sale (each), to managing agent: $200
  • Move-out Fee, to Co-op: $500
  • Move-out Refundable Security Deposit (refundable only if there is no damage as a result of move), to Co-op: $500
  • Flip tax, to Co-op: 2%
  • Sellers Transfer Stamp Tax Fee of $00.05 per share payable to Maxwell-Kates, Inc.

To be paid by purchaser

  • Purchase Application Fee, to the Co-op: $350
  • Purchase Application Fee, to managing agent: $350
  • Board Interview Special Request Fee, to the Co-op (when interview requested on day other than monthly Board meeting; may be granted solely at the option of the Board): $500
  • Recognition Agreement, to Co-op: $150
  • Recognition Agreement, to managing agent: $150
  • Adjournment of Closing (at closing or less than 24 hours prior notice of postponement), to managing agent: $150
  • Credit Report and Background Criminal Check, to managing agent: $150 per applicant
  • Stock certificate transfer and filing fee (if financing with a mortgage), to managing agent: $600
  • Stock certificate transfer and filing fee (if purchasing with cash and no third-party financing), to managing agent: $300
  • Closing Documents Sent in Advance of Closing Date (by either party), to managing agent: $100
  • Bank Questionnaire (if financing; optional and at the request of the purchaser), to managing agent: $100
  • Move-in fee, to Co-op: $500
  • Carpet/Stove Failed Inspection fee, to Co-op: $250 after first inspection (ie. second failure); $500 after next inspection; the cost of the prior fee plus an additional $500 for every inspection thereafter (eg. fourth failure would be $1,000 and fifth $1,500); Inspections will be conducted on request or at 30 day intervals

Subletting of Units

To Be Paid by Shareholder/Lessor

  • Sublet fee, to the Co-op: $3.00/share per month in the first year, $4.00/share per month in the second year, and $5/share per month in the 3rd year of the sublease (a full month’s sublet fee will be charged to the Shareholder regardless of the number of days a sublet tenant occupies the Shareholder’s apartment during the final month of the lease term)
  • Move-out fee, to Co-op (prior to subletter move-in): $500
  • Move-in fee, to Co-op (post subletter move-out): $500

To Be Paid by Prospective Lessee

  • Sublet Application Fee, to Co-op: $350
  • Sublet Application Fee, to managing agent: $350
  • Sublet Move-in Fee, to Co-op: $500
  • Sublet Move-out Fee, to Co-op: $500
  • Board Interview Special Request Fee, to the Co-op (when interview requested on day other than monthly Board meeting; may be granted solely at the option of the Board): $500
  • Carpet/Stove Failed Inspection fee, to Co-op: $250 after first inspection (ie. second failure); $500 after next inspection; the cost of the prior fee plus an additional $500 for every inspection thereafter (eg. fourth failure would be $1,000 and fifth $1,500); Inspections will be conducted on request or at 30 day intervals

Non-Sale Transfers to be Paid by the Shareholder

  • Change of Name(s) on Stock Certificate(s) - Between Spouses or Relatives; Change in Form Tenancy, to managing agent: $250
  • Full Board Report and Interview, if required by Board (additional), to managing agent: $200
  • Combination of Multiple Certificates to Single Certificate in the Name(s) of the Same Shareholder(s), to managing agent: $250
  • Transfer by Estate to Spouse, to managing agent: $250
  • Transfer by Estate to Beneficiary Other than Spouse, to managing agent: $350
  • Transfer to Trust (only with Board approval), to managing agent: $750
  • New Stock Certificate for Surviving Tenant, to managing agent: $250

Other Transactions to be Paid by the Shareholder

  • Refinancing Application Fee, to managing agent: $250
  • Recognition Agreement Free, to Co-op: $150
  • Bank Questionnaire (optional; at the request of the Shareholder), to managing agent: $100
  • Lease Application Processing Fee, including Full Board Report, to managing agent: $250
  • Lease Renewal Processing Fee, to managing agent: $100
  • Replacement of Lost Certificate or Lease with Affidavit (each), to managing agent: $200
  • Any time a shareholder moves in or moves out of their apartment, to Co-op: $500

Shareholder Apartment Alterations and Renovations

Light work alterations (see the Light Work Notification form) in general, are limited to: minimal patching of walls, painting, wall paper, replacing existing light fixtures, outlets, and light switches, replacing kitchen and bathroom faucets/handles, and replacing kitchen and bathroom countertops; all other alteration work in an apartment is covered by the “Alteration Agreement” (see the Alteration Agreement), which requires the Co-op engineer’s (or architect’s) review, approval, and oversight. The following fees apply to the engineer’s (architect’s) services and are the responsibility of the Shareholder:

  • Coordination and Review of Alteration Co-op Agreement, and Architectural Plans, Collection of Alteration Security Deposit, Report to Board (for all alterations), to managing agent: $250
  • Review of alteration plans submitted to Building Management, Building Superintendent, and the Board, paid to the building engineer: $225/hour (minimum of two hours)
  • Ongoing on-site inspections by the engineer, paid to the building engineer: $550 per visit (multiple visits may be required)
  • Other time required of engineer including: reviews, inspections, consultations, and reports as required by the Board, Building Superintendent, or Building Management; communications, letters, and discussions with the aforementioned, the Shareholder, or his/her architect/contractor, all paid to the building engineer: $225/hour billed in one-half hour increments
  • Final approval and report from engineer to Board and Building Management, paid to the building engineer: $250 to $500 (depending on complexity)
  • Alteration Maintenance Fee, paid to the Co-op: $500/month for the duration of the construction
  • Utility Shut-Down Fee (Water, Gas or Power), paid to the Co-op: $300 per occurrence
  • Fine for contractors leaving the Lobby door open while unattended by building staff, to be paid by the Shareholder for whom the contractor work, to the Co-op: $250 per occurrence

Other Fees

  • Bike room, to Co-op: $150 yearly, per bike
  • Storage Locker Rental (set by auction each year; payable monthly), to Co-op: TBD
  • Lost gym key, to Co-op: $25
  • Lost FOB, to Co-op: $25
  • Superintendant key fee, to Co-op: $100 (if requested between 11:00 PM and 8:00 AM)

Building Fines

  • Smoking in any of the building’s common areas, including, but not limited to the Roof Garden, Courtyard, basement, stairwells, elevators, garage, lobby, etc. The fine also will be assessed to the Shareholder or resident for his/her guests violating the No Smoking Policy. - $2,500
  • Unauthorized parties or gatherings of more than six guests, excluding Shareholders and residents. (Also see “Roof Deck Rules”.) - $750 up to $2,500
  • Short-term, unapproved, and illegal apartment rentals or unauthorized guests. Shareholders must reside in the apartment and accompany for each day of guests when using any building amenity, including the Roof Garden, Courtyard, and gym. Guest forms must be completed at least five days prior to the arrival date of the guests. (See “Sublet Policies”.) - $500 per day for each day of the unauthorized stay, plus any legal fees and related costs
  • Trash and/or recyclables left on the floor of the Refuse Rooms. - $250
  • Pets brought to the Roof Garden and Courtyard. - $250
  • Unattended pet in any common space - $150 per occurance
  • Non-compliance with the Carpet / Stove policies - (see above in "Selling / Buying of Units" and "Subletting Units")
  • Maintenance fee delinquencies, of which all percentages are applied to the total balance outstanding, including prior months' late fees, and are cumulative- 2% for the first month, 4% for the second month, 5% for the third month and beyond, all cumulative. (Note that at the option of the Board, an attorney may be engaged to collect delinquent fees. All attorney and other collection costs incurred by the Co-op to collect delinquent fees from a Shareholder will be at the Shareholder's expense.)

Building Fines Notes

Non-resident family, friends, or acquaintances are not allowed to stay in an apartment (whether compensation is received or not) when the Shareholder/sublet is travelling or lives elsewhere. The Shareholder or sublet must reside in the apartment the entire time guests are present. The Board has the right to refuse to allow a guest from entering the building if any of the rules governing guest visits are violated. Renting an apartment on a short-term basis (less than one year) is prohibited.

In addition to the above-listed violations and fines, Shareholders and residents will be responsible for all legal and other related fees incurred by the Co-op in documenting the violation(s) and collecting the amounts assessed for the violations and maintenance fee delinquencies.

In the event of “objectionable behavior” by a Shareholder and/or multiple infractions of the Co-op’s Proprietary Lease or Rules, in accordance with paragraphs 31 (a) through (j) and 32 (a) through (c) of the Proprietary Lease, and the “Pullman Doctrine” or a “Holdover Proceeding”, the Board may seek legal action to terminate a Shareholder’s lease, commence proceedings to evict the Shareholder, and sell the Shareholder’s apartment shares. The legal costs and other related fees incurred by the Co-op will be deducted from the proceeds received from the sale of the apartment shares.