Author Archives: Webmaster

Spectrum cable TV and Internet bulk rate plan

The following is a reproduction of a memo distributed on 17 August 2017 to all shareholders by Managing Agent Justin Verret. View/download the scanned memo (PDF, 155KB).

To: All Residents of Nagle Apartments
From: Justin Verret
Re: Spectrum Bulk Rate Plan

Please be advised that the building has entered into a bulk rate plan that provides cable and Internet to all apartments for $65 per month. This will be billed on your monthly maintenance bill starting in September. Every apartment can receive 1 HD cable box with Spectrum TV package, including Showtime, and one 100 Mbps modem as part of the monthly fee. You will only be charged directly by Spectrum if you have DVRs, other premium channels or channel lineups, phone, and Internet speed upgrades. Those prices are below.

Other premiums $15.00
DVR service (1 DVR) $11.99
DVR service (2–4 DVRs) $19.99
Phone (nationwide–domestic) $29.99
Internet speed upgrade to 300 Mbps $40.00

If you are a current customer with cable and Internet, you can use the same equipment. If you need a cable box or modem, please contact their help line, 1-844-528-3792, to get one, or visit the nearest Spectrum Store location at 2554 Broadway. If you are on direct debit with Spectrum, it is advised to check your account and remove yourself from direct billing until you decide on all the features and add-ons you would like. Current Spectrum customers will see credits on your recent bill for the pro-rated portion of August that is now covered by the bulk rate plan.

If you have any questions, contact Spectrum directly at 1-844-528-3792 to speak to a service representative. Contact me with any maintenance bill questions once you see the charges on the September bill.

Co-op Board meeting calendar, 2017–2018

The following meeting schedule was approved at the 14 August 2017 Co-op Board meeting.

Co-op Board meetings for 2017–2018 are typically scheduled on the second Monday of every month, from 7:30 to 9:30 p.m., in the community room in the basement of 37 Nagle Ave.

All shareholders are welcome to attend the regular Board meetings!

The Board meetings and other meetings for 2017–2018 have been scheduled as follows:

  • Monday 11 September 2017
  • Monday 23 October 2017 (fourth Monday)
  • Monday 13 November 2017
  • Special financial planning meeting (CLOSED) – Monday 11 December 2017
  • Monday 8 January 2018
  • Monday 12 February 2018
  • Monday 12 March 2018
  • Monday 9 April 2018
  • Monday 14 May 2018
  • Monday 11 June 2018
  • Annual shareholders meeting – Wednesday 27 June 2018, 6pm

All meetings are scheduled to begin at 7:30 pm unless otherwise noted and are subject to change.

Cook-out/potluck gathering, Saturday, 19 August 2017, 2–6pm

Potluck-flyer-RSVP-2017-08

NaBors Cook-out/Potluck

This time it’s a cook-out/potluck gathering! We’ll have the grills ready to roll.

Meet your NaBors and share good food, conversation, music and merriment!

Date: Saturday, 19 August 2017, 2–6pm
Location: NaBors Lower Courtyard

Bring yourself, your loved ones, and
A DISH and/or GRILLING FOODS and/or DRINKS TO SHARE!

RSVP: [Click to reveal email address]

In your message, please let us know what you’re planning to bring.

CANCELLED – Cook-out/potluck gathering, Sunday, 23 July 2017, 2–6pm

NOTE: Due to lack of interest (only one person RSVPed), this gathering has been CANCELLED. We will try again in August. Save the date: Saturday, 19 August 2017, 2–6pm.

NaBors Cook-out/Potluck

This time it’s a cook-out/potluck gathering! We’ll have the grills ready to roll.

Meet your NaBors and share good food, conversation, music and merriment!

Date: Sunday, 23 July 2017, 2–6pm
Location: NaBors Lower Courtyard

Bring yourself, your loved ones, and
A DISH and/or GRILLING FOODS and/or DRINKS TO SHARE!

RSVP: [Click to reveal email address]

In your message, please let us know what you’re planning to bring.

Potluck gathering, Saturday, 24 June 2017, 2–6pm

Back by popular demand!

NaBors Potluck

Please join us for a potluck gathering. Meet your NaBors and share good food, conversation, music and merriment!

Date: Saturday, 24 June 2017, 2–6pm
Location: NaBors Roof Deck Garden

Bring yourself, your loved ones, and A DISH and/or DRINKS TO SHARE!

RSVP: [Click to reveal email address]

In your message, please let us know what you’re planning to bring.

2017 Annual Meeting of Shareholders, 28 June 2017

To: All Shareholders of Nagle Apartments Corp.
From: Justin Verret
Date: 17 May 2017
Re: 2017 Annual Meeting of Shareholders, 28 June 2017, 6pm

Enclosed you will find the Notice of Meeting for the Nagle Apartments Corp. 2017 Annual Meeting of Shareholders. Please fill out the proxy and mail it or fax it to my attention to ensure we have a quorum for the meeting. If you are going to attend the meeting, your proxy will not be used.

If you wish to run for the Board, please send a bio to my attention so it can be distributed to the shareholders before the meeting. I should be in receipt of this bio no later than Friday June 9th in order to have it distributed prior to the meeting. You can still nominate yourself at the meeting or prior, but if a bio is not received before June 9th, it will not be made available to shareholders until the day of the meeting. You are encouraged to include a picture or headshot. The bio can be emailed to [click to reveal email address] and should be in Word format.

This year’s meeting will be held in the courtyard of the Nagle Apartments, New York, NY 10040. Food and refreshments will be served starting at 6pm. I look forward to seeing you all there. Please contact me if you have any questions.

Enclosures:

Personal income tax return data for 2016

The following is a reproduction of a memo sent on 11 January 2017 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP. View/download the scanned memo (PDF, 223KB).

To: Shareholders of Nagle Apartments Corp.

Re: Personal income tax return data for 2016

Dear Shareholders:

Under the provisions of Section 216 of the Internal Revenue Code, a tenant stockholder of a Cooperative apartment is entitled to deduct from personal gross income a proportionate share of interest and real estate tax paid or incurred by the Cooperative Corporation. Note that these deductions are generally available if the taxpayer itemizes tax deductions.

For the year 2016 your per share individual income tax deductions are as follows:

Mortgage interest     $10.2220 per share

Real estate tax     $21.2860 per share

For the year 2016, if you were granted any real estate tax abatements, reflected in a maintenance credit or received by check, your real estate tax deduction as stated above should be reduced by the amount of the abatements you received.

In order to compute your total deductions for 2016, multiply the number of shares owned by you, as indicated on your stock certificate, by the amounts per share stated above. If you became a stockholder, or sold your stock in the Corporation during 2016, you are permitted to deduct a fractional part of the figures, based on the proportionate part of the year you owned the stock.

Contributed capital in 2016 was $18.0580 per share for mortgage amortization and $7.9368 per share for capital assessment. This is not a deduction, but an increase in the basis of your investment.

Should you have any questions regarding the application of the aforementioned information to your individual income tax returns, please consult your personal tax advisor.

PRISAND, MELLINA, UNTERLACK & CO., LLP
Certified Public Accountants

Annual budget meeting 2016 – Update

The following is a reproduction of a memo dated 20 December 2016, distributed by management to all shareholders.

Dear Shareowners,

2016 yearly recap and look forward to 2017

In 2016 we completed the garage roof deck with the landscape designer we selected, Christian Duvenois. We are all very excited about our wonderful new space! The gym was also redesigned with new equipment in the past year.

2017 budget and maintenance

In order to deal with anticipated increased costs in insurance, real estate taxes and other operating costs, the Board of Directors has voted to increase maintenance costs by a modest 2%.

In addition, the current capital assessment will continue as 10% of the monthly maintenance. This makes the total increase of 2.2% total cost per shareholder for the year 2017.

The assessment continues our goal of 10% to meet Federal Banking Regulations. Those regulations require us to maintain at least 10% of total maintenance as part of our reserve funds for capital expenditures. So as not to overly burden our shareholders, we have consciously kept our maintenance increases small and gradually built to this 10% goal over the last few years in order to meet these regulations. The 10% assessment is not temporary, it is an important part of permanent prudent financial planning for the coop and assists us in funding necessary capital projects such as the windows, repairs in the garage and pending improvements to the roof.

The Board of Directors, the staff and Management wants to wish each of you a fantastic holiday season and a safe, healthy and prosperous 2017!

Co-op Board meeting calendar 2016–2017

Co-op Board meetings for 2016–2017 are typically scheduled on the second Monday of every month, from 7:30 to 9:30 p.m., in the community room in the basement of 37 Nagle Ave. (See original memo.)

All shareholders are welcome to attend the regular Board meetings!

The Board meetings and other meetings for 2016–2017 have been scheduled as follows:

  • Monday 14  November 2016
  • Special financial planning meeting (CLOSED) – Monday 12 December 2016
  • Monday 9 January 2017
  • Monday 13 February 2017
  • Monday 13 March 2017
  • Monday 10 April 2017
  • Monday 8 May 2017
  • Monday 12 June 2017
  • Annual shareholders meeting – Wednesday 28 June 2017, 6pm

All meetings are scheduled to begin at 7:30 pm unless otherwise noted and are subject to change.