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i am going t have to lawyer up because our board refuses to do their job an for about 10 years has let the president totally control the building with the help of a subpar management company.. problem is all of the lawyers i have spoke to just want to make money and don't want to try and get my fee's paid by the co-op board that is violating all the laws and committing fraud, self dealing, etc etc. everything you name it.
They refuse to provide contact information for board members except the pres, There are about 50 years of illegal sublets, where the shareholder does not live in the apartment. Many never lived in the apartment, it was their son or daughter that moved in. Our prop lease on par 14 has the "AND" wording. I gave the case law concerning that to the pres at a annual meeting a couple years ago. The legal sublets pay about $100 a month. Refuse to provide a list of shareholders, i i did get one in 2008, which i fought for. They are telling new buyers and Banks that have foreclosed and then sold the co-op that it is 90% owner occupied, i figure it is around 50%. Many shareholders are angry with me because i let it be known it is 50%. The pres and other board members have been inside/self dealing for years. In fact last annual meeting i have on recordong the president stating 4 or 5 times that he will inside deal, and he evewn said did you get that on your recorder.
The managing agent who acts as secretary refuses to record the meeting so once i challanged some minutes, and he stated he does not and will not tape the annual meeting, i started too.
This year i will use video, they dont like it , but they also dont like answering questions,or provideing the records they are suppose to.. The annual meeting is held in a public area of the co-op , and there are security cameras mounted in the same room, so it is also my property.
Only one of the few owner occupiers will help me fight but she is not on the web, and also wants to sell and say 90% O/O. , The rest just want to sell, and say 90% owner occupied. I think the buyer will l come after them for fraud when i tell them it is 50%. and i show them the 2008 findings and the refusal of the board to address it. Zero due diligence.Zero follow up by board members, managing agent wrote a letter stating he reuses to deal with me.. So managing agent refuses to acknowledge my faxes concerning violations and self dealing as does company president.. Board refuses to do anything. The voting was illegaly changed so it is a fixed deal, board says they are going to let people that didn't send in a proxy get another secret Chance, even though we had a quorum and their motion to reduce board didn't pass, crazy stuff. I am disabled and this has taken to much of a toll on me. I cant help but fight back when my home of almost 28 years is being stolen and the value destroyed by these people.
There should be a section for self help where we can swap things to do to force them to court pro se on the simple things that they refuse to do. .
i cannot accept that they can destroy my home like this and i have to pay thousands , and they will just do it again.
http://www.nytimes.com/2012/04/08/realestate/new-york-real-estate-question-answer.html
there is a lot more to this but that is my question to tjay romano and i have the 50% owner occuopied that they are telling banks and buyers and sellers its 90%. i have been here prior to conversion it has never been 90%.
As soon as i can find a good lawyer, since it is more than co-op and bcl violations such as bcl 624a , they have been refusing me on and they have been refusing me the terms of my proprietary lease, which is to see the financials as long as i give a reasonable notice. When they do not want you to see the financials , that like waving a flag in front of me, toro , toro time.
media time . It is about time that this co-op scam gets shown for exactly what it is. if you do not have good accountants and outside craftspeople as advisors in your building, and you have a bldg manger who is unsupervissed, it s a game callled delayed maintaince equals a huge payday. when you had a bldg owner and he saw the forescape door and pain peelins i had pictures of, plus the thousands it cost to replace, probably close to 5k, all because the manager hadn't looked at the emergency exit in years, plus the FD fine that may have been 1k. The owner would give the bum the boot. In coops you give them a raise and a holiday bonus and probably they get gifts from the contractors too,,
Definitely need to do something about the illegal sublets in our buildings. Our corporate documents as others allow subletting with board approval-Unfortunately there has been this person on the board forever who says subletting is not allowed and enough board members to agree with her without ever having a vote, thus at least 50% sublets with no doc umentation or any legal papers for the coop and one of which owed 7 years maintenance - I have brought up this problem for over 20 years at meetings - and I am completely ignored by our ex lawyer who always agreed with the board member and our new lawyer who ignores what I say although everything done is illegal, especially when this board members allows her people to sublet without saying anything but tries to take another to court for the same thing - this is very illegal - Definitely need help but it would help if there were enough people to get together and bring it to the proper authorities
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It only takes a few S/H who are determined, to change things. Most S/H just go along for the ride, Its not easy, but we began with two S/H, who eventually lead the movement to take back our Coop from a very powerful group of S/H and Management.
Get an Email list of S/H.
Send business-like emails EVERY week to EVERYONE concerned, listing the problems/issues. The Board and MangCo do not want this Email trail to accrue because it will be a powerful witness supporting your case before a judge.
Keep personal attacts out of the emails -- and stick with the facts -- do not RANT -- do not give up.
EMAIL POWER WORKS!
I agree that we need to exchange info between Coops -- A group of us has now reached another impass with our Board. We are now being taken by the Contractor Engeneer who has ordered work we dont need and is in the process of laying a system of pavers on our terraces, that is guaranteed to damage the building-- we have reached a dead end with the Board -- who likes these guys and wants the job finished no matter what -- so we intend to call the DOD to audit the work -- AND notify the rest of the Shareholders.
We have exhausted all other avenues, and have a substancial Email train documenting the issues ---
After this is over, we plan to publish the names of the Contractors and Engeneer -- unfortunatenly other Coop owners complain, but dont share or follow through..
Good Luck, VP
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