You are invited to the NaBors End of Summer Party.
Date: Saturday 19 September 2015 (rain date Sunday 20 September)
Time: 2 p.m.
Place: NaBors Apartments Courtyard
Please bring a side dish and drinks to share. The co-op will provide burgers, brats and hot dogs.
In order to better prepare, RSVP to [click to reveal e-mail].
Hope to see you there!
Hello, NaBors!
You’ve probably noticed the donation bin in the laundry room of 37 Nagle (or the flyers about it) by now. Maybe you’ve wondered:
What is re-fashioNYC?
It’s a partnership between the City of New York and Housing Works to improve New Yorkers’ lives, lessen the City’s environmental impact, and save taxpayer money.
Why did we join re-fashioNYC?
Three reasons:
Can I get a tax deduction for the items I donate?
Yes! Self-service tax receipts for donations up to $250 in value are available directly on the bin. Please take only one per donation deposit. Fill out the form and keep it for your tax records. (Tax receipts for donations of higher values must be obtained in-person from Housing Works.)
What happens to donations?
Items donated through re-fashioNYC are sorted at the Housing Works warehouse in Queens. Some donations are sold in Housing Works thrift shops throughout NYC, including the Buy-the-Bag store in Brooklyn. Some leftover items are shipped to Haiti, or sent to other nonprofit thrift shops. The rest are sold to a textile merchant for recycling or exported to overseas markets. No donated material is sent to landfills!
What items are accepted?
Please deposit only CLEAN textiles (laundered/cleanly stored). Please bag your donations before depositing them.
Co-op Board meetings for 2015–2016 are typically scheduled on the second Monday of every month (with two exceptions), from 7:30 to 9:30 p.m., in the community room in the basement of 37 Nagle Ave.
All shareholders are welcome!
The Board meetings and other meetings for 2015–2016 have been scheduled as follows:
All meetings are scheduled to begin at 7:30 p.m. unless otherwise noted.
The new Board of Directors, including elected officers, was announced and posted to the building bulletin boards on 6 July 2015. The following is a reproduction of the memo.
| President | JoAnne Hoffman | 2H |
| Vice President | Martin Malzahn | 1S |
| Treasurer | Ryan Scott | 2T |
| Secretary | Jeannine Jones | 2K |
| Assistant Secretary | Justin Verret | ** |
| Maria Dominicis | 6B |
| Matthew Bizzarro | 4V/W |
| Stephen Sameroff | 3W |
| Elisabeth Furtado | 6J |
| Babette Crain | 3S |
** Nonvoting managing agent
The following is a reproduction of a memo sent to shareholders by Managing Agent Justin Verret on 26 May 2015.
(View/download the scanned memo and enclosures [97KB].)
To: All Shareholders of Nagle Apartments Corp.
From: Justin Verret
Date: 26 May 2015
Re: 2015 Annual Meeting of Shareholders, 24 June 2015
Enclosed you will find the Notice of Meeting for the Nagle Apartments Corp. 2015 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 June 22nd.
This year’s meeting will be held in the courtyard of the Nagle Apartments, New York, NY 10040, or in the event of rain, the conference room located in the basement of 37 Nagle Avenue, New York, NY 10040. Food and refreshments will be served starting at 6 PM. I look forward to seeing you all there. Please contact me if you have any questions.
Enclosures:
The following is a reproduction of a memo from Managing Agent Justin Verret, posted to the building bulletin boards on 6 March 2015.
(View/download the scanned memo [PDF, 50KB].)
To: All Residents of Nagle Apartments
From: Justin Verret
Re: Garage Roof and Interior Repair Program
Date: 6 March 2015
As the garage interior project completed its 7th month, the upper level structural and concrete repairs have been completed. The soundproofing and insulation below the residential areas of 31 Nagle and 14 Bogardus are being completed this week. The new lighting and the new epoxy flooring is scheduled to be done by March 25th. At that time the first floor will be able to be partially open for residential parking. Specific information on Nagle Apartment Corp. residents registering for using the garage will be sent out by next week.
The work on the bottom floor is over two-thirds completed, with the majority of the cement fireproofing already being done. The structural repairs to the steel support beams will be done on or about April 3rd. At that time the floors and lighting will be prepped for installation. The lower level of the garage should be open by May 15th, and Xinos should be completely done with the project by May 31st.
The garage roof level will have the railings installed and will be reopened to general traffic in about 4 weeks. Until then, please continue to not walk on the roof. It is still a construction site. The roof sill still not able to be used recreationally. The board has chosen a roof deck designer, and the construction of that roof deck will be at the end of summer or early fall. In the interim, there will be areas designated for furniture so the roof can be used. Furniture cannot be placed directly on the new roofing material (both white and blue).
The following is a reproduction of a memo from Managing Agent Justin Verret, sent to shareholders on 26 January 2015.
(View/download the scanned memo [PDF, 185KB].)
To: All Residents of The Nagle Apartments
From: Justin Verret
Re: Garage Roof and Interior Repair Program
Date: 26 January 2015
As the garage interior project enters into its 6th month, the upper level is close to being completed. Over the next 3–4 weeks, the insulation and insulated panels are being installed below the residential areas, the walls are being painted, and the new garage floor epoxy covering is being applied. There is still some concrete work that is being completed to fulfill the required fire proofing.
While work is being completed on the first floor, the structural steel repairs is being done on the bottom floor. This work does not require as much concrete removal and does not require concrete forms to be built. This means that the work on that level will have less noise and vibration impact. There will still be noise and vibrations, just not as much as the first level. The structural work on this revel is anticipated to be done in March. The bottom floor’s walls and floor can be completed at that time. Xinos has increased their crew size to try to finish this work even earlier.
The first floor cannot be open for cars until the floor is completed and the structural work is completed below and signed off by the city. The structural work is being done from the front of the garage to the back so that the first floor can be opened in sections for operation. An update will be given on that timing in 3–4 weeks.
The garage roof level is still a construction area and should not be accessed for regular passage or recreational activities at any time. The board has interviewed landscape designers for the garage roof deck installation. An announcement on that design will be made at a later date. Please stay off the roof for general purposes until further notified.
The following is a reproduction of a memo sent on 12 January 2015 to all shareholders by our co-op’s certified public accountants: Prisand, Mellina, Unterlack & Co., LLP.
(View/download the scanned memo [PDF, 153KB].)
TO: Shareholders of NAGLE APARTMENTS CORP.
RE: PERSONAL INCOME TAX RETURN DATA FOR 2014
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 2014 your Per Share individual income tax deductions are as follows:
MORTGAGE INTEREST $10.2019 per share
REAL ESTATE TAX $22.3664 per share
For the year 2014, 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 2014, 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 2014, 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 2014 was $22.8877 per share for mortgage amortization and $5.3400 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
To make electronics recycling convenient and environmentally sustainable, New York City launched e-cycleNYC in partnership with Electronic Recyclers International, an industry leader in responsible electronics recycling.
Electronics often contain lead, mercury, and other hazardous materials that can leech into the environment if not properly discarded. Responsibly recycling electronics keeps these hazardous materials out of the waste stream.
As of January 2015, it is illegal for New Yorkers to discard electronics in the trash. Participating in e-cycleNYC enables our building to comply with this law by providing a convenient way for our residents to discard their electronics.
Please deposit accepted items (described below) in the e-cycleNYC receptacle, located by the elevator in the basement of 37 Nagle Avenue.
Appliances: If predominantly metal or rigid plastic, recycle these with other metal and plastic recyclables, otherwise discard as trash.
Batteries: Bring rechargeable batteries to any store that sells them, such as a pharmacy, office supply, or hardware store. Rechargeable batteries may contain mercury, cadmium, lead and other heavy metals which can be dangerous if not disposed of properly. Alkaline batteries can be discarded in the trash. Standard alkaline batteries are not considered hazardous waste, since they no longer contain mercury.
Fluorescent Bulbs: Compact fluorescent bulbs can be dropped off for free recycling at any Home Depot, IKEA, Lowes, or other participating retailers. CFLs and other fluorescents can be brought to any of NYC Department of Sanitation’s Household Special Waste Drop-Off Sites or upcoming SAFE disposal events.
You can remove data from the electronics prior to discarding. Any remaining data will be fully erased as part of the recycling process.
All electronics are recycled domestically using the strictest environmental standards available.
e-cycleNYC receptacle in the basement of 37 Nagle Avenue
On Sunday 14 December 2014, the Board of Directors met to review the operating budget for 2015. The following is a reproduction of the follow-up letter sent on 26 December 2014 to all shareholders.
[ PDF version ]
Dear Shareowners,
As 2014 comes to a close, the year can best be summed up as a year of positive transition. The garage roof replacement project is nearly complete. Progress continues to be made on the interior garage repairs. After receiving your input, the Board has selected three landscape designers to call back for a second round of presentations. And also based on your input, management is receiving bids for garage operators. The work is necessary to perform; it will improve the lives of our residents; and add value to our shares.
The finances of the corporation continue to be strong. Part of what makes our finances strong is setting annual balanced budgets and having a plan for funding capital repairs and improvements. The 2015 budget has both. One exciting event will occur in 2015 in that one of the loans taken out to pay for the replacement windows will be fully paid. A bit further off is another event you may be interested in: the building’s mortgage will be fully paid off in less than eight and a half years.
The Board met on Sunday December 14th and approved a balanced budget for 2015. Sadly, most of our costs are not within the control of the corporation. In setting our budget for 2015, estimates were used. All budgets utilize estimates as some information will not be known until sometime in the future. For example, the amount of property tax increase, if any, will not be known until sometime in the May/June 2015 timeframe. The budget used a 3% increase estimate and, as you can see from the below table, a 3% increase is not an unreasonable amount given our past history.
| Nagle Apartments Corp. | 2009 | 2010 | 2011 | 2012 | 2013 |
| Property tax | $213,336 | $228,830 | $243,533 | $257,747 | $260,517 |
| Percent increase | 7.26% | 6.43% | 5.84% | 1.07% | |
| Average increase for all years | 4.42% | ||||
| Budget increase assumption | 3 00% |
Source: Nagle Apartments Corp., Audited financial statements.
Other estimates were used. Here are some of those:
The Board voted to increase maintenance by $0.193 per month per share (from $6.355 to $6.548); the Board also voted to increase the capital assessment from 7% of maintenance to 8% of maintenance or by $0.079 (from $0.445 to $0.524) per month per share. The combined maintenance and assessment increases total 4.00% overall (from $6.800 to $7.072 per month per share). These amounts calculate to an increase of $38.08 a month for a 5th and 6th floor two-bedroom unit (other units will have less of an impact).
The Board is investigating the need for new gym equipment and also voted to increase the gym fees by $5 per month to help fund that initiative.
Finally, the Board made a commitment to review the amount of maintenance charges in the May/June 2015 timeframe to see if it can be adjusted downward should some of the estimates go our way.
The Board of Directors, the staff and Management want to wish each of you a fantastic holiday season and a safe, healthy and prosperous 2015!