159 Madison Owners Corp.

159 Madison Avenue

New York, NY 10021
Co-op
About
159 Madison Avenue is a pre-war cooperative building erected in 1917. It consists of 119 units and rises 12 stories.
Applications
159 Madison Avenue - Sale
159 Madison Avenue - Sublease
159 Madison Avenue - Finance_More Refinance_Home Equity
159 Madison Avenue - Same_Less Refinance
Property Contacts Century logo pms 01

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Documents

Offering Plan

6th thru 8th Amendment - 159 Madison Avenue.pdf $50.00 12/09/19
Offering Plan thru 8th Amendment - 159 Madison Avenue.pdf $250.00 12/09/19

By-Laws

By-Laws - 159 Madison Avenue.pdf $50.00 12/09/19

House Rules

House Rules -159 Madison Avenue Free
02/18/20

Building Financials

2016 Financials - 159 Madison Avenue.pdf $50.00 12/09/19
2017 Financials - 159 Madison Avenue.pdf $50.00 12/09/19
2018 Financials - 159 Madison Avenue.pdf $50.00 12/12/19

Bank Questionnaire

Century Questionnaire FAQs - 159 Madison Avenue.pdf Free
12/09/19

Closing Information & Fees

Closing Fees - 159 Madison Avenue.pdf Free
01/27/20
Closing Procedures Free
01/27/20

Moving & Delivery

Moving & Delivery Policy Procedures - 159 Madison Avenue.pdf Free
01/27/20
Sample Certificate of Insurance - 159 Madison Avenue.pdf Free
01/27/20

Lead Brochure

Lead Brochure - 159 Madison Avenue.pdf Free
01/27/20

Proprietary Lease

Proprietary Lease- 159 Madison Avenue $50.00 01/27/20
Additional Services

BoardPackager Services are administered exclusively by BoardPackager. All services are separate from those provided by Property Management Companies to their clients. All BoardPackager services are provided with full knowledge and cooporation with Property Management, but without Property Management supervision. Any fees associated with services offered are BoardPackager fees.
Hire a Specialist
Any user can engage a BoardPackager Specialist to assist with completion and submission of a Board Packager to a Property Management company.
There is a fee associated with each engagement that is payable to BoardPackager
Building Policies

General Policies

Pets Allowed Written approval for pets must be obtained - indicate specific type of pet, number of pets owned, size & weight (no dogs over 40 lbs).
In Unit Washers/Dryers Allowed
Subletting Allowed Shareholder must reside in apartment for a minimum of two (2) years prior to applying for a sublet. One (1) year lease term. Subletting, if permitted, is allowed for three (3) years out of five (5) years with Board approval.

Financing Policies

Max Financing Allowed as % 80% of purchase price

Additional Building Information

  • Sublet Renewals:
    • Lease renewals are subject to approval by the Board.
    • If you intent to renew your lease with the same tenant, the shareholder is required to contact the Assistant Property Manager a minimum of sixty (60) days prior to the expiration of the lease in order to obtain the lease renewal requirements and any additional fees that may be due for renewals.
    • In the alternative, if your tenant intends to vacate the premises, the owner must submit a letter indicating so, prior to the lease expiration date.

  • Open House Policy:
    • Open Houses must first be approved by Management. Contact Susan Pryce at spryce@centuryny.com.
    • Guest & Visitors should be escorted at all times either by the licensed real estate professional or the resident shareholder at all times while on premises.

  • No trusts purchases permitted.
  • Flip Tax: 1% of Gross Sales Price.
    • Contracts of Sale executed on or after (July 1, 2020) extended to 10/1/2020 due to COVID-19 pandemic.
Important Information Regarding Questionnaire Payment: Due to restrictions with the coronavirus we currently are not accepting checks for questionnaires. Only form of payment is by credit card(option 1 on questionnaire instruction sheet).

Amenities

Special Amenities

Video Surveillance
Basement/Storage Unit on Site
Elevator
Laundry Room
Bike Storage

Outdoor Spaces

Rooftop Access
Outdoor Tables & Chairs
Deck
Private Rooftop Space

Exposure and Views

City Views

On Site Services

Doorman
Live-in Super
Porter
Delivery Storage (Unrefrigerated)

Utilities

Cable Ready

Building Type

Co-Op
Pre War
Building Fees

Co-Op Sale

Payor Building Fees Amount Due Upon
Buyer Background check fee to purchase the shares of 159 Madison Owners Corp. $80 per person Submission
Buyer Management Processing fee to purchase the shares of 159 Madison Owners Corp. $500 Submission
Buyer Move-In Deposit $500 Submission
Buyer Move-In Fee $500 Submission
Seller Move-out Deposit $500 Submission
Seller Move-out Fee $500 Submission
Buyer Other Fees Download "Closing Fees" Document Closing
Seller Other Fees Download "Closing Fees" Document Closing

Co-Op Sublet

Payor Building Fees Amount Due Upon
Shareholder Annual Sublet Fee 25% of Annual Maintenance Submission
Shareholder Move-out Deposit $500 Submission
Shareholder Move-out Fee $500 Submission
Subtenant Consumer Credit Report Fee $80 Per Person Submission
Subtenant Management Administration Fee $500 Submission
Subtenant Move-In Deposit $500 Submission
Subtenant Move-In Fee $500 Submission
Shareholder Sublet Security Deposit 1 Month's Maintenance Upon Approval

Refinance

Payor Building Fees Amount Due Upon
Shareholder Refinance/ Home Equity Application Processing Fee $500 Submission
Processing

Single Application Initiation Fee

One-time fee paid by the person who begins the application

Payor Fees Amount Due Upon
Application
Initiator
If Agent or Attorney

If Applicant or Owner
$50

$100
Initiation
Application Participants Any Free N/A

Digital Submission Fee

Payor Type Amount Due Upon
Applicant Purchase
Lease/Sublet
Renewal
$45 Submission
Shareholder Refinance $45 Submission

Card Processing Fee

Payor Fees Amount Due Upon
Any Participant Paying Building Fees Card
Processing
5% of Total
(excluding Digital Submission
& Initiation Fees)
Submission
Property Management
Property managed by:
Century logo pms 01
All building information and documentation provided by property management.
05/29/20
Total Fees: 518
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