100 west 57th street land lease
Some landowners decided to keep the land, rather than sell it to a developer, in order to maintain a rental income for themselves and their heirs, said Adam Leitman Bailey, who practices real estate law in New York. $450,000. Ruth Fremson/The New York Times Co-op owners in land-lease buildings must also confront lease expirations.. The developer pays the ground lessor a fixed rental payment (like any other lease). $550,000. 353 West 56th Street #3J. Charles Atlas Wants to Redesign New York Citys AIDS Memorial Park, The artist (not the bodybuilder) answers Curbeds 21 Questions.. A must for board directors, property managers, professionals and vendors! box-sizing: border-box; border-radius: 5px; Equal Housing Opportunity. D When a buildings land lease approaches expiration, two things can happen. ! There are currently 23 on the market, for staggeringly low prices, offered by owners who are trying to get out before the reset. The rent escalations are completely covered. $245,000. But as they tick down, problems may arise. Price decreased by justify-content: space-between; Pied-a-Terres, subletting and pets, permitted. .su-cta-content > :first-child { border: 2px solid #3a3a3a; 0 bath property. You can be in big trouble if the lease payments adjust based on an appraisal. Get the best of StreetEasy in our once weekly email. Of the $190 million it raised, $112 million came from residents who took out their checkbooks and cut a check. color: #3a3a3a; Key to the dispute is how the land should be valued. in Hell's Kitchen A client of Lindebaums purchased a large apartment in a land-lease building. Welcome to Apt 16k at Carnegie House. It sits on land thats owned by David Werners and Rubin Schrons real estate firm the Werner Group. Your email address will not be published. 167 East 61st Street, Trump Plaza, is an interesting example where the coop corralled all the shareholders together to buy the land from the landowner. The 452 sq. Things you buy through our links may earn Vox Media a commission. StreetEasy is a brand and registered trademark of Zillow, Inc. Zillow, Inc. has a real estate brokerage license in multiple states. Sale There are possibly 4,000 square feet remaining. I told my Realtor that you really have to tell the truth, you cant keep people in the dark, but by the time I put it out there, most of the people were aware of the situation. Sharmas apartment didnt sell, and he continues to live in the building. R The value of the apartments decrease because the maintenance is so obnoxiously high, said Robert Dankner, the president of Prime Manhattan Residential. Banks wont lend to it and as a result theres only been all cash deals in the building. At the end of the lease term, the ground lessor can take the land back with all improvements, but very often the leases are renewed. With a ground lease, the corporation does not own the real estate but, rather, leases it from a real estate investor pursuant to a ground lease. View information about 100 W West St, Williamsport, IN 47993. This open and spacious studio with alcove sleeping area is a tranquil oasis in the heart of midtown. margin-bottom: 0; The term of a ground lease is typically very long (for example, 99 years). Now, were basically attempting to untangle ourselves from a situation we didnt choose to be in.. can you advise how would one get access to the offering plan to research further? 315 West 55th Street #1D. assignments of leases and rents, and more! (17 Easthaven Lane, White Plains, NY 10605), Listing by Compass StreetEasy is a brand and registered trademark of Zillow, Inc. Zillow, Inc. has a real estate brokerage license in multiple states. This is a common situation in the news today as land prices break new records every day. It is unfortunate, but true., But some people consider land-lease apartments a buying opportunity. The lot that the building was built on is 200 feet wide and 150 feet long. Fun facts: Brooklyn Bridge Park is very similar to Battery Park City. Up to 90% of residents, some of whom have lived there for 50 years, stand to lose their homes.. Williamsburg Is Entering Its Fifth Avenue Era. When looking at a land lease, it is important to conduct a risk vs. reward analysis, said agent Karen Kostiw of Warburg Realty. Since ground-lease rents are typically 6 percent of current market value, reportsThe Real Deal, rising New York real estate prices means the current$4.4 million rent the cooperative pays annually would be $27 million if the rent were to be reset today so what's it going to be in 10 years, when the rent is scheduled to be reset? Verified Property Affordable Furnished Ready to Move Short/Long Term Easy Payment bhk . View more property details, sales history and Zestimate data on Zillow. at 5th Av, B .su-cta-content, The buildings monthly maintenance charges were already well above the market, and this would have tripled it, essentially rendering the apartments without value, said Jonathan J. Miller, the president of the appraisal firm Miller Samuel, who advised Trump Plaza on the deal. 100 W 57th St #12L, New York, NY 10019 is a 1 bedroom, 1 bathroom, 600 sqft coop built in 1962. Each apartment owner in a land-lease building pays a land rent thats wrapped into their monthly fees. Ft. Save Overview Location Property History Schools Similar Homes Listed By Compass View All Map Street View Virtual Tour LIVE IN THE CENTER OF IT ALL!!! A newly filed lawsuit claims that the co-op board agreed to the detriment of shareholders. (100 West 57th Street, New York, NY 10019), Listing by Republic Realty Except in Battery Park City, ground leases are not typically found in residential co-ops and condominiums. Contact Us. When you look at an apartment thats been on the market for 48 weeks, and is a great apartment at a good price, you need to understand that if you buy it and then look to sell, you will face the same set of circumstances. Terms of Service apply. 150 Central Park South #608. This listing is no longer available on StreetEasy, This listing has incorrect information/photos, This is a discriminatory or offensive listing. What's with ground leases so much in the news lately? Since land values in New York almost always go up, a spike is almost inevitable. } D Co-op owners in land-lease buildings must also confront lease expirations. See a list of these real estate licenses. Thank you for sharing. Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments, Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise. .su-cta-action a { The multi-family home is situated at 1465 New York Avenue, Brooklyn, NY. . Our feeling was, taking a mortgage out was jumping from the frying pan into the fire. You do not want to mess with a ground lease co-op! Listing by Douglas Elliman The building is a pet-friendly and allows pied-a-terres, parents buying for children, washer/dryer and co-purchasing are allowed. at 57th St, N They should have made an aggressive counter offer.. If youre buying in a land lease coop or building, you also have to be wary of the lease payment reset dates and terms. This site is protected by reCAPTCHA and the Google This password will be used to sign into all, The Wings Office (and Furniture) Is for Sale, Boomer Dads Are Driving Real Estate Agents Nuts, The Look Book Goes to Housing Works Cannabis Co, Twitter Is Dumping Most of Its New York Office, 6 Stand-ups Analyze ChatGPTs Attempts to Steal Their Jobs. Price decreased by } Ft. per Sq. 7 Affordable Queens Neighborhoods for Renters, New Prospect Lefferts Gardens Condo Asks $539K. If the ground lease expires and is renewed at a much higher rate, the monthlies can double or triple. But as far as most experts know, this has never happened in New York. Lastly, you really only have to watch out for land lease buildings in Battery Park City (BPC), Roosevelt Island and a handful on the UES in my experience. This land-lease building currently has 12 availabilities, including one studio priced at $265,000 and a three-bedroom listed for $850K. 2 Beds. This agency typically owns land for use for schools or educational offices, but will occasionally lease out unused land in this fashion. 152 West 58th Street #1A. padding: 35px 20px; Abigail Nehring NY Standardized Operating Procedures. will the land ever be purchased by the building? Complicated in 1962, the grey-brick beauty was named after nothing less than Carnegie Hall. Description provided by Duncan A. Lonsdale, N Without doing what they did, nobody would have ever been able to sell their apartment., Rising Costs a Concern for Land-Lease Building Owners, https://www.nytimes.com/2015/06/14/realestate/rising-costs-a-concern-for-land-lease-building-owners-in-new-york.html. 100 W 57th St #12L was last sold on Dec 28, 2016 for $380,000. Assuming the value of comps is unchanged, if the cost of purchasing the land decreases, the value of the apartment increases. They relisted the apartment for $6.595 million, raising the price because the building no longer had a land lease. $21,000, Sale Response by loveson over 9 years ago Posts: 25 Member since: Jan 2012 .su-cta-action { align-items: center; Theres also an additional option: the apartment owners can try to buy the land for themselves. Then lo and behold, last summer, there were issues going on with the extended family that owned the land, and there was a frothy market, so they decided to put it up for sale.. If youd like to understand more about ground lease co-ops, please reach out to me at [emailprotected] or (917) 675-0037. font-size: 14px; Anyone know the Land-lease situation for Brooklyn Point? Most buildings on land leases are co-ops. While the purchase moved the building and units into a more stable zone, it came with a high cost. Condo for rent at 446 E 76th St. $5,000, Sale background-color: #b8b6b8; } Development in Battery Park City started in the 1980s on landfill excavated from the original WTC construction in the 1970s. They are mostly co-ops, although the list includes some condominiums. in Hell's Kitchen $4,350 - 6,550. Complicated in 1962, the grey-brick beauty was named after nothing less than Carnegie Hall. border-color: #b8b6b8; For the risk-averse, the uncertainty of vastly higher fees in 2025 has led to selling their apartments or at least trying to. Youll be able to find the original deed. E Address: 100 W 57th St #11R, New York, NY Price: $215,000 Home Size: 900 square feet Bedrooms: 1 Bathrooms: 1 Additional Amenities: Dining alcove can be converted to a 2nd bedroom, in-unit laundry (Image credit: Douglas Elliman) Sale Zillow Inc. Sites 2006-2023 ZillowMade in NYCPowered by Bikes, Coffee, and Doughnuts. All rights reserved. hi mssn, thanks, that's very helpful. 801 Key Highway #354, Baltimore, MD 21230 (MLS# MDBA2062012) is a Condo property with 2 bedrooms, 2 full bathrooms and 1 partial bathroom. See a list of these real estate licenses. } This listing is no longer available on StreetEasy, This listing has incorrect information/photos, This is a discriminatory or offensive listing. in Hell's Kitchen Adam Rolstons Deco co-op looks across to the Palisades. Contact (212) 606-7702 Message Kristi Ambrosetti Protect Yourself From Scams Learn More Report an Issue Condo Features Air Conditioning Hardwood Floors Tile Floors Package Service $325,000. Rental Unit in Upper West Side at 255 W 94th Street #21G for $6,995. Sharma put his two-bedroom, two-bathroom apartment on the market last year, listing it at $550,000. @media screen and (min-width: 992px) { They then spent $1.5 million combining and renovating them. Carnegie House is in the heart of Billionaires Row and is located in one of New York Citys most coveted neighborhoods. 100 W 57th St APT 18L, Manhattan, NY is a condo home that contains 600 sq ft and was built in 1962. Obviously the lease payments will adjust over the life of a long land lease, but will they adjust periodically based on CPI (i.e. While we cannot comment publicly on the interior workings of a building, if the reset is happening in 2065 as you say (this is unverified by Hauseit), then a prudent co-op board would want to renew the land lease soon. The co-ops next reset will be in 2018. $590,000. Most banks are reluctant to lend to buyers in these buildings, anticipating that when the monthly costs jump way up, owners may suddenly find it difficult to keep up with the mortgage. For Ukrainians in the diaspora, the past year has meant broken friendships, survivors guilt, and a new way of thinking about identity. That rent was scheduled to skyrocket in 2023, which would triple monthly maintenance fees and affect the value of the apartments. That, too, is typical. Every product is independently selected by editors. Everything to Know About Buying Your First Home in NYC. 225 East 76th Street #E. Usually there will be a lower limit on how low it can go, but often there wont be an upper limit on how high it can reset. This building is built on leased, not owned, land. Banks are a little bit wary of land-lease buildings, said Ace Watanasuparp, the regional manager for Citizens Bank. Your email address will not be published. In other words: even though the units at Carnegie House may seem like some of the cheapest apartments in midtown (if not the entire city), they still have to be purchased by those wealthy enough to afford Billionaires Row. Carnegie House--what price psf is a good deal? As a result, shareholders live in a perpetual state of fear that they will be uprooted from their homes, the suit claims. The fact is, according to energy experts and building managers, if you still have incandescent lighting in your building's public spaces, rather than compact fluorescent light bulbs (CFLs) or light-emitting diodes (LEDs), you're probably wasting money. 217 York St, Des Moines, IA 50316. But it could also go down in the case of a market contraction. 252 East 57th Street is another example where the landlord is NYCs Educational Construction Fund. The land underneath the Carnegie House co-op, located at 100 West 57th Street, just sold to a group of investors for $285MM, and the land underneath the Trump Plaza co-op on East 61st Street is currently on the market. Lo and Ben Affleck finally find California dream house, Texas ranch of late oil tycoon T. Boone Pickens sells after $80M price cut, Britney Spears quietly sells Calif. home for a roughly $1.7M loss, Tom Sandoval breaks silence on Ariana Madix split amid cheating claims, Kelly Osbourne posts first photo of baby son as he hangs out with uncle Jack, Greys Anatomy alum Isaiah Washington retiring from acting: The haters have won, Max Scherzer's first look at the new pitch clock, Kellyanne Conway and George Conway to divorce, Canadian teacher with size-Z prosthetic breasts placed on paid leave. *Sorry, there was a problem signing you up. https://www.digsrealtynyc.com/wp-content/uploads/2019/11/Land-Lease-Co-ops2.png, https://www.digsrealtynyc.com/wp-content/uploads/2021/10/digs-logo.png. Yes a land-lease building does not own the land it sits on. The board thus became a willing participant in Werners scheme to force residents to pay exorbitant additional sums to keep their apartments or to give them up so that Werner can put up a new building on the site. See a list of these real estate licenses. This building is built on leased, not owned, land. At this price point, Ive been completely inundated from morning until all times of night, with phone calls, text messages, and emails from people all over the world weve had people from Hawaii, Israel, Paris, and the Middle East. Ambrosettis listing is one of eight currently in contract, and, according to StreetEasy, eight apartments have sold since the beginning of the pandemic in March. About 100 West 57th Street, 19K, Midtown West, Manhattan, NY 10019. So how do land lease payments usually work? Looking to sell? 14,551,303 Sq. Think about it. For example, for condos youd be able to see the property tax bills of individual units, as well as the owners names. 1 of 10 Floor plan 222 West 80th Street #9C $24,600 for rent NO LONGER AVAILABLE ON STREETEASY ABOUT 9 WEEKS AGO NO FEE 1,778 ft $166 per ft 2 rooms 3 beds 3 baths . Which means that many of the current shareholders are stuck. But the purchase automatically valued the land at $270 million, Werner said, claiming the rent should be based on that much higher price. No representation, guarantee or warranty of any kind is made regarding the completeness or accuracy of information provided. text-align: right; Discounts in land-lease buildings are 25 percent, although Im beginning to think it is more like 35 to 40 percent, said Susan Landau Abrams, an associate broker at Warburg Realty. favorite this post Oct 26 5013 Vista $875 2br - Home for rent $750 2br - 855ft 2. 100 W 57th St #12L is located in Midtown, New York. Consumer Price Index, basically inflation) or will the lease payments adjust based on some sort of an appraisal? There are a lot of older people in the building, and you can see how emotionally and physically stressed they become when they talk about it, says Michael Landon, who lived at Carnegie House with Sharma for three years. Price increased by About 222 W 80th St Unit 11C. Sale Its more challenging to build equity since buildings depreciate over time while land typically appreciates over time. The Carnegie House at 100 West 57th Street is very large cooperative apartment building of 324 units occupying the entire western block front from 56th to 57th Street, and an entrance to its spacious lobby on the Avenue of the Americas. It simply means there are some additional questions to ask on what is going on with this property during the due diligence period. 352 West 56th Street #4D. There is a potential for a high rent payout, said Arnold Rosenshein, the president of Excelsiors board, but it depends on how it falls out with the economy. (17 Easthaven Lane, White Plains, NY 10605). Want to analyze this property with our Comps Report Generator? in Midtown Earlier this year, Mr. Cooper, who became the boards president, realized his objective, helping cobble together $190 million in cash to buy the land underneath the building. But by and large, it was the best thing that could have ever happened to Trump Plaza. thx! With the buyout, tenants in the co-op faced a new land assessment, prohibitive for some. A lot of them are trades between building residents who are essentially gambling on the outcome when the land lease expires. Ive had people come to me and say, Sell my apartment tomorrow, says DiOrio. The expiration and renewal are expected in about 10 years, contributing to some difficulty assessing the accurate market value for units in the building. 312 West 49th Street #1RE. in Midtown $299,000. Required fields are marked *. It means that co-op or condo owners would face eviction or could become tenants in their homes. 442-H New York Standard Operating Procedures. This area is served by the New York City Geographic District # 2 attendance zone. If youd like to purchase one of the 23 apartments available in Carnegie House, for instance, youll have to pay the full amount in cash: Everybody is cash in the building right now, at every level, whether its a $110,000 apartment or the three bedrooms that are $599,000, says the Brown Harris Stevens agent Steven Fishman, one of many who have handled sales in the building. All over Manhattan, land values are escalating at a very rapid pace, said Brian Corcoran, an executive vice president of Cushman & Wakefield who advised the Trump Plaza board on its land purchase. The land lease was for 100 years, and the building had a 421A tax abatement until 2037, which provided significant monthly savings. Co-op apartments in a luxury doorman building on Billionaires Row are selling for as low as $100,000 for a studio and $659,000 for a three-bedroom penthouse with a terrace. (11.4%) This property is zoned M-2 (see attachments for permitted uses). Once the land deal came through, the Schoemans were assessed $2.8 million. Sale 59 East 72nd Street #1A. The building is so wonderful in every way the staff is amazing, the community is great, its really one of the best places Ive ever lived in New York, but [Werner and Schron] have thrown the building into a chaotic state, and theyve added uncertainty. Investors dont like that, and that has depressed prices by a lot. Zillow Inc. Sites 2006-2023 ZillowMade in NYCPowered by Bikes, Coffee, and Doughnuts. Rupert Murdoch Is Returning to Hampshire House. Will be an interesting case study. The huge, bright living/dining area measures approximately 16x21 with a Murphy bed to accommodate guests. padding: 0 15px; .su-cta-content { The Carnegie House is centrally located in the heart of midtown and just two short blocks from Central Park and one block from Carnegie Hall (after which it was named). I couldnt sleep for months. (According to several brokers we spoke to, tenants are supposed to be made aware of the land lease before moving in.) Conway / Orlando) Dec 23 AC Filters 19 1/4 X 23 1/4 Merv 13 Create a free agent account; Real estate business plan; 570 57th Ave W LOT 136, Bradenton, FL 34207 . The kitchen has been partially opened and enlarged, featuring custom cabinetry, marble countertops, tiled backsplash and top of the line appliances. It has a Juliet balcony and a library with a rolling staircase. The ground-rent fees paid to the owner of the land underneath Carnegie House are currently $4.1 million annually, and are due to reset in 2025 for the first time in 21 years. She was just pulling her hair out, and was just like, get me out of here, because of the uncertainty and the hassle, they say. No one would have bought it.. in Lenox Hill NO LONGER AVAILABLE ON STREETEASY ABOUT 5 WEEKS AGO. The Neighborhood East Flatbush. Itll be very interesting to see. Carnegie House 100 West 57th Street New York, NY 10019 Co-op in Midtown 324 Units 21 Stories 1962 Built Sales listings: 9 active, 2 in contract and 399 previous Rentals listings: 2 active and 171 previous Documents and Permits: 444 documents more about the building Price History Want to analyze this property with our Comps Report Generator? According to an analysis by The Real Deal, at current market prices, the Carnegie House co-ops annual rent owed pursuant to the ground lease could increase from $4.4MM/year to $27MM/year! The Trump Plaza deal was anything but certain. $299,000. This situation is terrifying for co-op unit owners, as the only reason why investors would purchase a co-op ground lease is to make money on it that is, escalating the ground rent as high as possible based on the then-existing market price of the land. Madan claims that the rent owed to Werner should be linked to the fair market value of the land underneath Carnegie House, according to a renewal provision in the original ground lease. SOLID BRICK 3 FAMILY W/ LONG TERM TENANTS ON LEASE. margin-bottom: 0; flex: 0 0 73%; Lol you completely misquoted the article there. in Hell's Kitchen What are PILOT charges in Battery Park City condos? 1302 Key Highway Baltimore, MD 21230 Prev Next Property Details MacKenzie Retail, LLC is pleased to present the opportunity to ground lease this. That meant Trump Plaza had to assess each shareholder based on the size and location of his or her apartment; some owners faced bills of millions of dollars. It could have taken out a mortgage, but then the building would have been highly leveraged. these boundaries. (973) 330-8440. AVENUE OF THE AMERICAS and 6 1/2 AVENUE. This unpredictability is not optimal. The co-op had the right of first refusal, so it scrambled to find the money. $295,000. It has really high maintenance which just went higher. And yet people keep asking! The building consists of studios, 1, 2 and 3 bedroom units. 100 W 57th St is a condo located in Manhattan County and the 10019 ZIP Code. Many buildings in London are subject to ground leases that can run for 1,000 years; the queen is often the landowner, said Stuart M. Saft, a partner at the law firm Holland & Knight. at 7th Av, New York Graduate School of Psychoanalysis, Paley Center For Media (formerly Museum Of Television & Radio). A few notable land lease buildings in NYC: 303 East 57th Street, The Excelsior, is a ground lease co-op building whose land lease term expires in 2064. The purchaser should be clear on the financing, duration, and structure of the land lease before purchasing or not purchasing a land lease apartment in NYC. Wed love to hear more about this specific building, please feel free to share another comment here, or in our forum! It would not have been logical. Sale My guess is that there will be litigation. New York's Cooperative and Condominium Community, Carnegie House, 100 W. 57th Street, Midtown. Land lease buildings in NYC built on privately owned land can present a major challenge in valuation and marketability, especially if a lease is close to expiring. W Hauseit LLC co-brokes all listings in the REBNY RLS and OneKey MLS. With a little luck, you could be one of the elite several million. 781 Fifth Avenue #1616. This makes the apartments less marketable. Developer Danny Fitzgerald would like it if celebrities would stop partying in his celebrity party houses. If a buyer takes a 30-year mortgage, but the land lease only has 17 years left, who knows what will happen.. PILOT stands for Payment in Lieu of Taxes, and applies to leasehold condos only where the landowner is the government. These buildings tend to have high monthly carrying charges because of the rental payments for the land. So: cash. Everything We Know About Ron DeSantiss Disney Takeover. Hauseit is a Trademark of Hauseit Group LLC. This email will be used to sign into all New York sites. Sale As a result, its rather inconceivable that in 2069, the Battery Park City Authority, a government agency beholden to the people, will refuse to negotiate and kick out all the voters in Battery Park City. So, if youre ever searching Streeteasy and become enamored with a 2br/2ba co-op with a beautiful terrace that is priced comparably to a studio, but has unusually high maintenance costs, turn away fast and continue your search. The government as the landowner is exempt from paying property taxes to itself. Well, if its not renewed then a leasehold interest is just there, ownership interest in a lease. I talked him out of it. 215 East 96th Street is a land lease condop where the land is owned by the Islamic Cultural Center of New York, which operates a mosque next door on the adjacent lot. On the one hand, land-lease buildings have much lower entry points for purchase. Plus, document images are one-click away. Send us a note below or call (323) 366-4648. 152 West 58th Street #4C. Thanks. Thus, the more than 300-unit, 21-story building did a top-to-bottom overhaul of its energy systems a $788,000 project that will recoup its cost in six years, thanks to $197,000 in incentives from the New York State Energy Research and Development Authority (NYSERDA), a loan at about half the market rate and the aforesaid electric-bill savings. They can provide copies of An expansive walk-in closet has an abundance of storage space and houses a washer/dryer. Listing by Dolly Lenz Real Estate LLC (1301 Avenue of the Americas, New York, NY 10019-6022), Listing by McDonagh Real Estate (333 W 56th Street, New York, NY 10019), Listing by Compass (90 5th Avenue, New York, NY 10011-7624), Listing by R New York (641 Lexington Avenue, New York, NY 10022), Listing by Sherry Netherland Inc (781 5th Avenue, New York, NY 10022), Listing by RC Realty Group of New York Inc (260 West 91st Street, New York, NY 10024). Homes similar to 100 W 57th St Unit 19-K are listed between $725K to $63M at an average of $3,400 per square foot. The building, which is filled with a mix of younger families and older residents who have lived there for decades, finds itself in an unpredictable situation. ft. apartment is a 0 bed, 1.0 bath unit. Required fields are marked *. The expiration and renewal are expected in about 10 years, contributing to some difficulty assessing the accurate market value for units in the building. Carnegie House has a 24-hour doorman, concierge, bike room, and storage. Pergolotti Realty LLC, Limited Liability Broker, 100 West 57th St, New York NY 10019. This diminishes the leverage held by the co-op to negotiate favorable rental terms in a new lease. Their unique characteristic is that they sit on land that belongs to a landowner not the building. On the other hand, land-lease apartments tend to cost less than the competition. Board president Richard Hirsch declined to comment. Sale Pied-a-terres, parents buying for children, gifting and pets are allowed. 2023 The Carol Group, Ltd. All rights reserved, Ground Leases Again: Buyers Purchase the Land Beneath Carnegie House Co-op, The 52-Year-Old Carnegie House Co-op Gets an Energy-System Upgrade, New York State Energy Research and Development Authority, The Light Switch: Board Members Talk CFLs, LEDs and Saving $$$, Board of Directors - Sponsor participation.