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.pdf $50.00 10/07/19
Offering Plan thru 8th Amendment - 159 Madison Avenue $250.00 10/07/19

By-Laws

By Laws - 159 Madison Avenue $50.00 10/07/19

Building Financials

2015 Financials - 159 Madison Avenue $50.00 10/07/19
2016 Financials - 159 Madison Avenue $50.00 10/07/19
2017 Financials - 159 Madison Avenue $50.00 10/07/19

Bank Questionnaire

Century Questionnaire FAQs.pdf Free
10/07/19

Other

2018 Financials - 159 Madison.pdf $50.00 10/07/19
Closing Fees - 159 Madison AveNUE Free
10/07/19
Closing Procedures Free
10/07/19
Lead Brochure.pdf Free
10/07/19
Moving & Delivery Policy_Procedures - 159 Madison Ave Free
10/07/19
Revised Residents Handbook (01.2016) - 159 Madison Ave Free
10/07/19
Sample Certificate of Insurance - 159 Madison Ave. Free
10/07/19
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.

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 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 Management Administration 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

Digital Submission Fee

Payor Type Amount Due Upon
Applicant Purchase
Lease/Sublet
Renewal
$45 Submission
Shareholder Refinance $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.
11/01/19
Total Fees: 357
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