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Alteration Agreement Signed In February 2019, Stefan Brodie and Irina Denisova, unit owners in the Aldyn Condominium at 60 Riverside Drive, signed an alteration agreement and submitted the required $10,000 security deposit to renovate their apartment. The project timeline submitted to the board indicated that renovations would be completed by September 2020, but by spring 2022 the work had not been completed. The alteration agreement provided for the assessment of a $500-per-day charge for each day that the renovation continued beyond a “Required Completion Date.”
Board Steps In Because the duration of the project exceeded the board’s expectation, the board issued a “stop work notice,” issued fines, and seized the security deposit the unit owners had paid.
67-69 ST. NICHOLAS AVE. HOUS. DEV. FUND CORP. V. GREEN
The board of a South Harlem HDFC co-op at 67 St. Nicholas Ave. engaged in a legal fight over its commercial space. In 2004, when the board president was Siwana Green, the co-op issued a lease for the commercial space to Thomas Green, her husband, and their partnership “A Cup of Harlem.” It was a 99-year sweetheart lease at $700 per month with an option to renew for an additional 10 years at $800 per month. The Greens sublet this space for 10 years (2009 through 2019) at $2,500 per month to Antonio Contreras, who operated a hair salon, renewed the sublease at $2,800 for an additional five years, and netted nearly $350,000 in profit over this period.
Ink Property Group bought 32 buildings between 2014 and 2019 and forced out at least 80 tenants to offer units at market rate, among many other abuses and predatory practices. To flip the units, Attorney General James said the company worked to strategically force out tenants through buyouts, harassment, and worsening living conditions. An Attorney General's office probe into Ink Property Group began in 2019 following numerous complaints from tenants, according to the settlement.
