| 205 West End a Cooperative residence since 1987
Built in 1961, it was part of a vast urban renewal program centered around the new Lincoln Center for the Performing Arts. The building sits at the northern edge of Lincoln Towers. While an independent cooperative, 205 residents retain access to and shared ownership of the beautiful gardens and playgrounds that abound in the complex, the largest of which can be accessed directly from the building.
205 West End Owners Corporation, whose shares are 90% resident-owned, is governed by a Board of Directors consisting of seven shareholders and one sponsor representative.
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Recent News
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Property tax assessment appeal success lets board reduce 2012 maintenance increase
Good news!
At the time of the December
12th maintenance letter the Co-op was faced with a property tax
increase that the Board thought was unreasonable. We appealed the assessment vigorously and
recently received the welcome news that the city had agreed to a change that
reduces our property taxes for 2012 by almost $210,000.
This enables the board to
reduce the previously announced maintenance increase by three cents per
share. The net result is that the
maintenance increase for the balance of 2012 will be 3.31% instead of the
previously announced 4.49%. Thus for the
rest of 2012 the monthly maintenance per share will be $3.44 instead of $3.47.
Rather than incur ...
Posted Jan 18, 2012 9:31 AM by Marc Donner
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2012 Maintenance Letter
December 12, 2011
Dear Fellow
Shareholders:
The Board, supported by its
accountant and management staff, has recently completed its financial
projections for year-end 2011 and has adopted an operating budget for 2012.
We are pleased to report
that 205 West End will finish this year with a small operating deficit of about
0.7%. Thanks to conservative financial management and some luck, we have
finished another year in good shape.
While the 2011 year saw no
major capital projects, it saw two key steps in preparation for the
future. First of all, in 2011 we
refinanced the Co-op’s underlying mortgage, securing a 4.2% interest rate for
the next ten years and reducing the building’s monthly ...
Posted Dec 13, 2011 4:05 AM by Marc Donner
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