I always enjoy sharing positive stories about resident owned communities and the August 22 column by Eric Ernst in the Sarasota Herald Tribune is a great example of cooperative living at its best.
Country Club Estates in Venice is in the midst of a very exciting project that will enhance and increase its value and desirability both on a short term and long term basis. The unit owners’ commitment to the future of Country Club Estates is indeed "good news for affordable housing in Venice." Kudos to the board, the manager and all of the members of Country Club Estates!
So much for the good news.
Here’s an incredible story from a recent edition of the New York Post, entitled "Co-op Brawl":
Apparently, the president of an apartment cooperative located on Fifth Avenue in New York was upset because the representatives of the estate that owned a penthouse apartment in the building did not accept her "low ball" offer to purchase the unit. The president and her board then allegedly decided to sabotage an existing agreement to sell the penthouse for 27 million dollars by unilaterally deciding that the apartment’s "prime selling point"–a private wrap-around terrace with city and Central Park views–can be used by everyone in the building to get onto a newly proposed roof deck.
Of course, a lawsuit has been filed by the sellers seeking 5 million dollars in damages and a court order declaring that the terrace (which is larger than the unit’s interior living space) is private.
Not surprisingly, none of the lawyers involved in this ugly legal battle returned calls from the newspaper seeking comments.
Members of Florida cooperative or condominium associations should rest assured that neither the size nor the configuration of a condominium unit or a cooperative unit can be changed in any material way without the approval of the affected unit owner.
Now that we’re well into the month of October, preparations for this season’s set of seminars are under way and I’ll be posting information within the next few weeks.
I hope everyone had a safe and restful "off season" and look forward to seeing you soon!