I am trying to get a google groups on co-op shareholder rights /fight back crowdsourcing. The group is formed , now we need people with some nads. The problem in this bldg is at 50% owner/occupied, the rest have zero nads. i have tried. They think they will sell and move on. If they are on the board, they are liableand will be in court. I also think if a provate seleer tells a buyer that it is 90% O/O and it is 50%, that is going to bring them into a lawsuit. A real estate will lose their license a real estate company , the whole company may get shut down. We need to work together and share info. This site is great, but not for the shareholder who needs to fight back. A renter has much more power and less worries then people like us who have our life savings invested in the co-op. The law is on our side but the AG office for co-ops should be disbanded and put on the unemployment line.They dont do sh!t, they are the ones that approved the conversion plan, they should be the ebforcer , the same as with the renters.I am speaking of refusal to provode a shareholder list, refusal to view the financials s the proprietary lease states. refusal to provide contact info for the BOD. one board member has never lived her, yet they fraudebbtly say he lives with his 35 plus year ols son in a one bedroom. Pure fraud. the pres doesnmt live here and inside dealds constanely. the list goes on and on. The managing company was the sponsor and IMO is in bed with the pres. The rest of the bod does no due diligence or anything, they dont even knoe who had check signing powers and where the new bank is, and what the name is. There are no shareholder co-op lawyers, advertising in any conspicuous place. The co-op conversion is the biggest scam in real estate since the conversion started. Even a good-hearted board will get ripped off, since there is no one watching the building manager, it is a win /win for the corrupt/lazy managing agents companies and should be exposed as such. The first scam was the asbestos removal, that popped up in the building as soon as the conversion papers ink was dry, A lot of money spent , from the shareholders accounts , why wasnt it done when it was a rental. why didnt the inspectors find it and have it corrected at the rental property expense? The scams went deeper and deeper from there.
How many people on the board know the craft jobs? i know some of the craft jobs and what i see is the old planned delayed maintenance for the big payoff when a water leak or elevator room holes are big enough to put your hands through= lots of future money for elevator repairs. If you dont think someone is getting a big piece their crazy. I have heard at the annual meeting the MA say that there was no way to stop the doors from slamming shut on the hallways, the ones with the hydraulic closers. He also said there was no way to make the incinerator doors bigger, it is a compactor now. i measure the interior and theyre is plenty of room to knock out some bricks and put a new door in. It may ne expensive, but say that and give a price. All he does is put out pure fraud info. The managing company owner refuses to talk top me.Probably because i went through channels and filed complaints. The managing company is telling people the building ids 90% owner occupied. I gave the print out from their new york law journal to the pres of the bod and MA 3 or 4 years ago at a annual meeting, and brought up the fact that it was about 50% at that time. now suspect it is lower. i guess real estate board is next, they hung themselves with their rope. They changed the voting procedure not in accordance with the bylaws. in effect making it a totally closed board. we need to work together put some shame on the AG office and get people that want to earn their paycheck. Write all your legislators from the bottom to the top including Cuomo and the state senator. i believe it is bank fraud when you mistate the owner occupancy ratio and that is big in the news. we could get a good media place to do a story on 3 or 4 co-ops with this stuff going on.We have to fight back. i would prefer a lawyer knock on my door or call me , but i want someone who is good. AS far as knowing craft as a member of the BOD, if you are not a journeyman plumber or electrician etc , you will never know how much you are being ripped off.in my craft we had slang for certain supplies, but if i told you i needed a dozen chineseazzh0les and 3 bulld1cks most would thing i was pulling their leg, but those were the names no offence for any lack of pc, it didn't exist back then. google groups and twitter . learn to use the crowdsoucring tools to your advantage. These thieves want it quiet.