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
Building Policies

  • Maximum Financing Permitted: 80% of Purchase Price.
  • Sublet Policy:
    • 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.
  • 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.
  • Pet Policy: Written approval for pets must be obtained - indicate specific type of pet, number of pets owned, size & weight (no dogs over 40 lbs).
  • 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.
  • Washer/Dryer Policy: Permitted in Units.

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Documents

Offering Plan

6th thru 8th Amendment.pdf $50.00 01/06/19
Offering Plan thru 8th Amendment - 159 Madison Avenue $250.00 01/06/19

By-Laws

By Laws - 159 Madison Avenue $50.00 01/06/19

Building Financials

2015 Financials - 159 Madison Avenue $50.00 01/06/19
2016 Financials - 159 Madison Avenue $50.00 01/06/19
2017 Financials - 159 Madison Avenue $50.00 01/06/19

Bank Questionnaire

Century Questionnaire FAQs.pdf Free
07/11/18

Other

Closing Fees - 159 Madison AveNUE Free
06/27/18
Closing Procedures Free
06/27/18
Lead Brochure.pdf Free
06/27/18
Moving & Delivery Policy_Procedures - 159 Madison Ave Free
06/27/18
Revised Residents Handbook (01.2016) - 159 Madison Ave Free
06/27/18
Sample Certificate of Insurance - 159 Madison Ave. Free
06/27/18
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

Pets

Pets OK, Upon Approval

Building Type

Co-Op
Pre War
Building Fees

Co-Op Sale

Payor Building Fees Amount Due Upon
Buyer Consumer Credit Report Fee $80 per person Submission
Buyer Sales Application Processing Fee $500 Submission
Buyer Move-in Deposit $500 Closing
Buyer Move-in Fee $500 Closing
Buyer Other Fees Download "Closing Fees" Document Closing
Seller Move-out Deposit $500 Closing
Seller Move-out Fee $500 Closing
Seller Other Fees Download "Closing Fees" Document Closing

Co-Op Sublet

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

Refinance

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


BoardPackager 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

Application Submission Fee

Payor Amount Due Upon
Applicant $45 Submission

Credit Card Processing Fee

Payor Fees Amount Due Upon
Any Participant Paying Building Fees Credit Card
Processing
5% of Total
(excluding Submission
& Initiation Fees)
Submission
Property Management
Property managed by:
Century logo pms 01
All building information and documentation provided by property management.
07/12/19
Total Fees: 347
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