A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners. These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units. The term can be applied to the building or complex itself, and is sometimes applied to individual units. The term "condominium" is mostly used in the US and Canada, but similar arrangements are used in many other countries under different names.
207-636: The Belnord is a condominium building at 225 West 86th Street on the Upper West Side of Manhattan in New York City . The 13-story structure was designed by Hiss and Weekes in the Italian Renaissance Revival style and occupies the full block between Broadway , Amsterdam Avenue , and 86th and 87th Streets. It was built between 1908 and 1909 by a syndicate of investors as a rental apartment building . The Belnord
414-454: A loggia and contain double-height arches, which are elaborately decorated and are separated by pilasters . Above the twelfth story is a projecting cornice . There are also two rooftop pavilions with wings and loggias . The rooftop pavilions were originally used as roof gardens during the summer and enclosed lounges during the winter. Next to the pavilion was a children's playroom. The two arches on West End Avenue and Broadway lead to
621-408: A naturally occurring retirement community . The high concentration of elderly residents led to disputes over matters such as whether benches or a playground should be installed in the courtyard. Barnett spent large sums of money to renovate the courtyard's fountain, which he called the "fountain of youth" because of the seeming longevity of the building's residents. The renovation involved disassembling
828-574: A strata , and in Quebec , where they are referred to as syndicates of co-ownership . The townhouse complex of Brentwood Village in Edmonton , Alberta , was the first condominium development in Canada (registered in 1967). With regular condominiums, the unit owner usually owns the internal unit space and a share of the corporation; the corporation owns the exterior of the building land and common area; in
1035-478: A $ 135 million second mortgage loan for the Apthorp's conversion. Ingrid Birkhofer and Fernando Papale of BP Architects were hired to renovate the units, and Prudential Douglas Elliman was hired to market the building. A holding company named JSR Capital bought 40 of the apartments and leased them out. The conversion was delayed because of disputes between the partners; objections from existing tenants; and
1242-399: A $ 375 million interest-only loan from UBS in late 2006, replacing a $ 182.6 million mortgage loan that had been placed on the building. The building still had 119 rent-controlled and 22 rent-stabilized apartments at the time of the loan. A judge ruled in 2009 that, because the building was receiving a J-51 tax abatement, Barnett was not allowed to deregulate any more apartments until 2015. At
1449-488: A (single family) house. However, shares are not considered as real estate but as personal property and the co-op can take possession of the apartment for a term time and evict the tenant or owner because of disturbance or unpaid maintenance fees. Finnish housing cooperatives are incorporated as (non-profit) limited-liability companies ( Finnish : asunto- osakeyhtiö , Swedish : bostadsaktiebolag ), where one share usually represents one square meter (sometimes ten) of
1656-472: A 12-story apartment building on the site, to be designed by Hiss and Weekes. The building was to measure 350 feet (110 m) long, 200 feet (61 m) wide, and 150 feet (46 m) tall; media sources described the Belnord as the world's largest apartment building at the time. The George A. Fuller Company received the general contract for the project, and William Bradley & Son was hired to manufacture
1863-507: A 22,000-square-foot (2,000 m) center courtyard making up the balance. The Belnord's arrangement is similar to that of the Apthorp , another large apartment building on Broadway and 79th Street built during the early 20th century. The Belnord was designed by H. Hobart Weekes of the architectural firm of Hiss and Weekes , and it was completed in 1909. It is 13 stories tall and features Italian Renaissance Revival style decorative elements. The architect boasted to The New York Times that it
2070-459: A European town square or a royal mansion's courtyard. In addition, the courtyard provided tenants with a private, open-air communal space. The building is divided into four sections designated A–D and arranged around the central cobblestoned driveway and courtyard. The basement originally contained a mechanical plant that supplied heat, electricity, and ice to each apartment. The plant contained two sets of refrigerators and eight boilers. Because
2277-560: A building to be classified as "Flats" is four, with a requirement for having at least one elevator or lift for buildings upwards of four floors. Almost all have a separate room called the "Drawing Room", used for guest entertainment purposes. However, its use as a TV room and dining room is common. Another unique feature is the balcony or "terrace", which is standard for all flats. In the Philippines, condominiums are classified into three types: low-rise, mid-rise, and high-rise. Condos have
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#17327718487282484-571: A business plan for the Apthorp, prompting Mann to sue Apollo. This prompted Apollo to threaten to foreclose on the building in January 2009. Mann's co-sponsors, the Feil Organization and Africa Israel, accused him of mismanaging the project; a judge gave the partners six days to resolve their dispute. The sponsors, who had previously agreed to seek arbitration from a rabbinical court if disagreements arose, could not even agree on
2691-542: A complex of residences, such as an apartment building, and a condominium is purely legal. There is no way to differentiate a condominium from any other residential building simply by looking at it or visiting it. What defines a condominium is the form of ownership. A building developed as a condominium (and sold in individual units to different owners ) could actually be built at another location as (for example) an apartment building (the developers would retain ownership and rent individual units to different tenants ). Where
2898-496: A condominium is a collection of individual units and common areas along with the land upon which they sit. Individual home ownership within a condominium is construed as ownership of only the air space confining the boundaries of the home. The boundaries of that space are specified by a legal document known in the United States as a Declaration, filed on record with the local governing authority. These boundaries may extend to
3105-401: A condominium is in essence an apartment building, as a practical matter, builders tend to build condominiums to higher quality standards than apartment complexes because of the differences between the rental and sale markets. They are typically slightly larger than apartments and are often constructed in a townhouse style in regions where single-family detached homes are common. Technically,
3312-475: A contemporary design, as well as another unit by Anna Karlin with "a mix of vintage and custom-designed pieces". During the early 19th century, apartment developments in New York City were generally associated with the working class. By the late 19th century, apartments were also becoming desirable among the middle and upper classes. Between 1880 and 1885, more than 90 apartment buildings were developed in
3519-400: A courtyard. The courtyard provides entry to all apartments and doubles as a light court for the interiors of each apartment. It is cited as measuring about 134 by 95 ft (41 by 29 m) across. The courtyard is one of a few motor courts at an apartment building in New York City. The courttard has an oval driveway, an octagonal garden, and two fountains. The facade of the courtyard
3726-511: A detailed review of the building in early 2010. By then, the condo-conversion plan encountered so many problems that real-estate website Curbed published updates on the project under the headline "As the Apthorp Turns". The attorney general's office declared the condominium offering effective in May 2010, allowing the sponsors to begin finalizing sales contracts. The first condo sale
3933-479: A different set of apartments, and originally had a mechanical plant in the basement, as well as amenities such as horse stables and storage rooms. The building originally had 175 apartments, which were designed in the Louis XVI style . The apartments generally had multiple rooms and faced both the courtyard and the street. By the 1940s, the building had 225 units; this was further increased to 231 condominium units by
4140-476: A distinctive home finds the rarest of city home combinations—a perfect apartment and the charm of a beautiful garden spot". Lucy Cleveland wrote for Domestic Engineering , "Superbly have they illustrated in stone, in the Belnord, the idea of a complete and secluded home within the aggregated loftiness of walls that spread to east, to west, to north, to south, and whose Mycenaean massiveness indeed proclaims Defendam [I am defended]!" Paul Goldberger , writing about
4347-478: A few censuses metropolitan areas according to Statistics Canada . Condominiums exist in most parts of Canada, though they are more common in larger cities. They are regulated under provincial or territorial legislation, and specific legal details vary from jurisdiction to jurisdiction. In most parts of Canada, they are referred to as condominiums, except in British Columbia , where they are referred to as
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#17327718487284554-410: A founding document, which may variously be called a "Master Deed", "Enabling Declaration", "Declaration of Conditions", "Conditions, Covenants, and Restrictions (CC&Rs)", "Deed of Mutual Covenant" or simply a "Condominium Document". Among other things, this document can provide for the creation of a governing body or corporation, for example, a Homeowner's Association in the United States. Rules for
4761-765: A freehold owned by a corporation, itself owned by individual leaseholders. This provides an opportunity for them to participate in the proper management of the block. Again, the quality of management is very variable. The statute creating commonholds was motivated by a desire to eliminate some of the problems and perceived injustices, such as the commercial exploitation of lessees by freeholders as their leases began to have too little time left to satisfy lenders. Since most leasehold developments are undertaken by commercial entities, commonholds did not become widespread. There are, however, other statutes in place that give some degree of protection for leaseholders. It is, nevertheless, essential to consider proper legal advice whenever engaged in
4968-513: A lower tax liability in an office condominium than in an office rented from a taxable, for-profit company. However, the frequent turnover of commercial land uses in particular can make the inflexibility of condominium arrangements problematic. In Australia, condominiums are known as " strata title schemes " or "community title schemes". The 2011 National Household Survey (NHS) showed that one in eight Canadian households lived in condominium dwellings, colloquially known as "condos", mostly located in
5175-496: A major thoroughfare. Elevators carried freight from the service area to a vestibule just outside each room. The basement accommodated dozens of mechanical staff. The Belnord originally had its own mechanical plant in the basement, which was placed directly beneath the courtyard to minimize vibrations within each apartment. The pump and engine room contained three generators, each with a total capacity of 1,060 horsepower (790 kW). The boiler room contained four boilers, each of which
5382-694: A marble-tiled foyer, at least two bathrooms, and six to twelve additional rooms. The lower level of each apartment typically contained the foyer, kitchen, billiards room, dining room, and servants' quarters, while the upper level contained a parlor, library, bedrooms, and bathrooms. The rooms were unusually large; for example, some dining rooms measured 16 by 24 ft (4.9 by 7.3 m), and some drawing rooms measured 17 by 28 ft (5.2 by 8.5 m). Apartments also had master bedrooms measuring 17 by 24 ft (5.2 by 7.3 m) with marble fireplaces. The hallways measured 44 in (1,100 mm) wide, much wider than in comparable residences on Park Avenue , and
5589-402: A mechanical plant in the basement. The building originally had 104 apartments, which were largely arranged as duplexes and designed in a variety of styles; the apartments had large rooms and high ceilings. By the 1940s, the building had 165 units, although some of these apartments have since been combined. Astor announced plans for an apartment building on the site in 1901, although the project
5796-457: A nanny for a family who lived in the Apthorp. In the 1970s, architectural critic Paul Goldberger described the Apthorp as one of the city's 10 best apartment buildings, saying: "Detailing is skillful throughout, with elaborate Corinthian pilasters over the entry [...] The three‐story‐high entrance arch is monumental yet welcoming, and the central court is splendid, a tranquil refuge from the clamor of adjacent Broadway." Goldberger, writing about
6003-417: A non-profit corporation, in which the tenants own shares; each share carries the right and duty to lease an apartment from the cooperative. Shares can be bought and sold, but often the cooperative's rules strictly limit the price for which they may change hands. (In contrast, condominiums are traded on a free market). Because the official share prices are often lower than the market value and sellers often retain
6210-659: A parlor and dining room that were connected to one another. A kitchen, butler's pantry, and servants' bedrooms were next to the dining room. Another corridor led perpendicularly from the foyer to the bedrooms. On average, each apartment had two to four bathrooms and two or three servants' bedrooms. Each apartment also had large closets. The apartments were decorated in the Louis XVI style . They contained silk tapestries, painted wall panels, solid mahogany doors, and hardwood floors. The drawing rooms and dining rooms of each apartment contained fireplaces with carved mantels . All mantels were hand-carved in different designs and were imported;
6417-475: A price close to the building's assessed value of $ 2.45 million. The sale was finalized that July, marking the first change of ownership in the building's history. The City Bank-Farmers Trust Company sold the building's $ 1.5 million mortgage to an unidentified university's endowment fund shortly afterward. Gross sold the building in 1953 to the Fox-Long Realty Corp. for $ 3 million;
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6624-409: A private lounge for residents. The lounge contains several groups of seating, as well as a set of doors that can split the lounge into two spaces. The ground story contains mailboxes for each apartment, a small laundry room, and a playroom with an attached kitchen. There are also two bicycle storage rooms and a small fitness center. On the upper stories, the vestibules were clad with mosaic tiles. Many of
6831-504: A renovation of the building, which included converting part of the basement into a 30,000-square-foot (2,800 m) store, restoring the facade and courtyard, and replacing 2,211 windows. Several tenants expressed concerns that the renovation would be disruptive and that the courtyard had recently been renovated. Barnett ultimately spent over $ 100 million to renovate the building, renting the apartments for up to $ 45,000 per month. Barnett purchased houses as far away as Florida and Nevada, giving
7038-618: A rent-controlled apartment at the Belnord until her death in 2004. The new owners agreed to limit rent increases for 115 tenants who were part of the Belnord Landmark Conservancy, although it did not negotiate any such rent cap for the other tenants. PMG leased one of the storefronts to clothing store Banana Republic , and the LPC allowed the owners to install a fiberglass canopy over the storefront. The building's owners hired David Kenneth Specter & Associates to design
7245-419: A significantly discounted price for their apartments. Westbrook had taken over the project by early 2021, at which point HFZ held a minority equity stake. At the time, HFZ was the subject of several lawsuits, and its debt was increasing. Media sources subsequently reported that the building had been financed in part by Steinmetz, although HFZ had denied any connection with Steinmetz as late as 2020. By late 2022,
7452-459: A skylight in the middle. There are entrances to the courtyard at each corner of the building. Originally, there were six, with one on the north side of the courtyard and the other between the two driveways to the south. The 87th Street side contained a 14-foot (4.3 m) wide driveway which lead to a service area under the courtyard. When the building opened, all delivery vehicles were required to use it to keep freight traffic away from 86th Street,
7659-657: A special type of ownership title called a CCT - condominium certificate of title. Condominiums usually have amenities, like swimming pools, owned parking, a clubhouse, and a building for administration. Initially, the concept of a condominium was introduced by the Federal Law "On the Fundamentals of the Federal Housing Policy" No. 4218-1 dated December 24, 1992: "Condominium is an association of owners of residential premises in apartment buildings with
7866-417: A storage room in the basement. There were horse stables in the basement as well, beneath the courtyard. The roof contained private laundry rooms. There was a laundry room at each corner of the building; each laundry room had 36 washtubs, as well as a private dryer for each tenant. After the 2010s renovation, the Belnord contained about 9,000 square feet (840 m) of amenities. These included dining areas and
8073-480: A subsidiary of Area Property Partners. Africa Israel relinquished the Apthorp to Area Property Partners in August 2012, shortly after Arefin acquired the debt. The building was refinanced with a $ 125 million first mortgage from Macquarie Bank and a $ 60 million mezzanine loan from Macquarie and Arefin. At the time, only 50 of the 163 condos had been sold. That October, condominium owners voted to change
8280-434: A three-story base, a seven-story shaft, and a two-story upper portion. The corners of the building, as well as the central sections of each elevation, contain vertically arranged quoins . The outermost bays are wider than the others on the facade and are flanked by the quoins. These outer bays, as well as horizontal string moldings , both articulate the otherwise rectangular mass. The facade contained 2,000 windows when
8487-486: A two-story addition above the roof, with four penthouse apartments . The sponsors said the new penthouses would provide funding for repairs to the rest of the building. Amid opposition from condo owners and other local residents, Manhattan Community Board 7 vetoed these plans in September 2013, and the LPC demurred on whether to approve the penthouses. The following January, the LPC requested that Hill West redesign
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8694-516: Is a New York City designated landmark and is listed on the National Register of Historic Places . The building occupies a nearly rectangular site and has a limestone and brick facade, which is divided horizontally into three sections. On 86th Street, a pair of arches at the center of the facade lead to an internal courtyard with a garden, driveway, and entrances to the apartments. The Belnord contains six entrances, each of which lead to
8901-419: Is a three-story, arched porte-cochère at the center, flanked by rusticated blocks. The entrances contain elaborate wrought-iron gates with scrolled trellises , topped by gilded deer heads and stylized variations of the name "Apthorp". There are Corinthian -style pilasters on either side of each arch, which in turn are topped by oversized sculpted representations of women at the fourth story. In addition,
9108-464: Is assigned to specific apartments ( Finnish : hallinnanjakosopimus , Swedish : avtal om delning av besittningen ) is usually used only with detached or semi-detached houses. A housing cooperative is a common form of home ownership in Finland. Owning shares that correspond to one apartment in a housing company is generally considered as much owning your own home as actually directly owning
9315-536: Is cited as having frontage of approximately 201 feet (61 m) on Broadway and Amsterdam Avenue, 343 feet (105 m) on 86th Street, and 328 feet (100 m) on 87th Street. The site is variously cited as covering 64,614 square feet (6,003 m), 67,614 sq ft (6,282 m), or 68,943 square feet (6,405.0 m); the New York City Department of City Planning cites the plot as covering 67,674 square feet (6,287 m). The building
9522-407: Is decorated similarly to the exterior facade. Furnishings such as marble benches and statues are placed within the courtyard as well. At each corner are iron-and-glass awnings, which shield the building's entrances. Passageways on the north and south sides of the courtyard descend to a staff basement. The awnings, carriage driveway, and fountain were intended to give the courtyard the appearance of
9729-443: Is listed on the National Register of Historic Places . The building occupies a nearly rectangular site and has a limestone facade, which is divided horizontally into three sections. On West End Avenue and Broadway, three-story arches at the center of the facade lead to an internal courtyard with a garden, driveway, and entrances to the apartments. The Apthorp is divided into four sections, each with its own lobby, and originally had
9936-569: Is located at 2201–2219 Broadway on the Upper West Side of Manhattan in New York City . It occupies the entirety of a rectangular city block bounded by Broadway to the east, 79th Street to the north, West End Avenue to the west, and 78th Street to the south. The land lot covers 50,524 sq ft (4,693.8 m ) and has frontage of approximately 204 ft (62 m) on Broadway and West End Avenue and 248 ft (76 m) on 78th and 79th Streets. The Belleclaire Hotel , Collegiate School , and West End Collegiate Church are to
10143-556: Is opposite the West-Park Presbyterian Church to the east and St. Paul's Methodist Church to the west. An entrance to the New York City Subway 's 86th Street station , serving the 1 train, is directly outside the southwestern corner of the building. The Belnord is one of a few full-block apartment buildings in New York City, with its structure occupying about two-thirds of its site and
10350-411: Is owned jointly by the apartment owners, who execute their joint ownership through an owner's association . The expenses of maintaining the joint property are shared pro rata among the owners. Another 5% of Danish homes are in housing cooperatives (Danish andelsbolig ), which occupy a legal position intermediate between condominiums and housing associations . The entire property is legally owned by
10557-492: Is the "time share", although not all time shares are condominiums, and not all time shares involve actual ownership of (i.e., deeded title to) real property. Condominiums may be found in both civil law and common law legal systems as it is purely a creation of statute . Among other things, the HOA assesses unit owners for the costs of maintaining the common areas, etc. That is, the HOA decides how much each owner should pay and has
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#173277184872810764-406: The 2007–2008 financial crisis . Many tenants were either unable to afford increased rents or had not been offered compensation for their apartments. The building's parking garage was also closed in 2008 after city officials discovered structural defects; the parking garage had reopened by 2010. In December 2008, Apollo issued a $ 22.7 million capital call and asked the sponsors to present
10971-535: The Apthorp Farm there. By the 19th century, Apthorp's daughter Charlotte married John C. Vanden Heuvel, and the couple occupied the site. The farm contained a two-story house with stone walls and a gable roof , which dated from 1759 and was used as a lodge, Burnham's Hotel, in the 19th century. The Vanden Heuvels only used the estate until the 1850s, and the house had deteriorated into a venue for "prizefights, cockfights, and all kinds of illegal practices" by
11178-515: The Graham Court and the Ansonia . After the similarly-named Apthorp Hotel opened on Broadway between 89th and 90th Streets in 1914, both the hotel and the apartment building frequently received mail and telephone calls intended for the other structure. Astor requested an injunction to prevent that hotel from using the Apthorp name, but a state judge ruled that Astor did not have the rights to
11385-400: The National Register of Historic Places in 1980. Sparks unsuccessfully attempted to broker an agreement between the tenants and Seril, and he withdrew from the Belnord dispute completely that July. By late 1980, the New York City Department of Housing Preservation and Development (HPD) was hearing "eight or nine" disputes between Seril and the building's 225 tenants. City inspectors had cited
11592-531: The New York City Landmarks Preservation Commission (LPC) approved plans for a two-story penthouse recessed from the roof. During the early 19th century, apartment developments in the city were generally associated with the working class. By the late 19th century, apartments were also becoming desirable among the middle and upper classes. Between 1880 and 1885, more than ninety apartment buildings were developed in
11799-518: The New York City water supply system , which was then pumped up to the roof. There was a reserve tank on the roof with a capacity of 10,000 US gallons (38,000 L), as well as three other water towers. The building initially contained 14 hydraulic elevators , of which eight were for freight and six were for passengers. The Belnord had the same number of passenger and freight elevators after its condominium conversion. There were also emergency staircases with fire hoses on each story. In addition, there
12006-631: The homeowner association represents an entity with rights and duties that may include contracts. The right of ownership is divided in the first article of the WoEigG into homeownership, individual freehold ownership, part ownership, and commonhold ownership. In Greece, condominiums became very popular in the 1960s. It is a building one sees everywhere in Greece, since most of its population lives in big cities. They are known as πολυκατοικίες ( polykatoikíes ), literally "multi-residences". In Hong Kong
12213-404: The keystone of each arch contains a hooded head, while the spandrels on either side contain bas-reliefs of women. The entrances are also decorated with garlands . The ground-story facade has largely been converted to storefronts. The fourth through tenth stories are largely clad with smooth limestone, except at the corners, which contain quoins. The outermost bays contain balconettes at
12420-468: The "Apthorp" name. The New York Herald Tribune reported in 1925 that the Astors were considering selling the Apthorp to a syndicate, though this did not happen. The Astor family hired Clinton & Russell in 1928 to convert the ground story into bronze and marble storefronts. By the next year, the Apthorp was recorded as having nine stores. The City Bank-Farmers Trust Company , acting as trustee for
12627-520: The 1880s. The house was demolished in 1905 when the Apthorp was built, at which point it was severely deteriorated. The Apthorp was designed in the Italian Renaissance Revival style by the architectural firm of Clinton and Russell . It is twelve stories high. The building's design is partially based on that of the Palazzo Pitti in Florence. John Downey was the general contractor for
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#173277184872812834-565: The 1960s. The LPC designated the building as an official city landmark in 1969. A lawyer named Milton Kestenberg owned the Apthorp by then, and its tenants were advocating converting the building into a housing cooperative . At the time, many buildings on the Upper West Side had been converted to co-ops or were in the process of doing so. The proposed conversion of the Apthorp was unusual in that co-op conversions in New York City were typically proposed by buildings' owners. Ultimately,
13041-479: The 1987 rent rollbacks until she lost her appeal in 1993, upon which she decided to give residents rent credits, allowing them to live rent-free for up to three years. Dozens of residents continued to withhold rent through 1994, saying that Seril had failed to fix numerous major issues, such as cracked walls. Ziel Feldman and Kevin Maloney of Property Markets Group (PMG), in conjunction with Gary Barnett , acquired
13248-413: The Ansonia and the Apthorp, "gave a cosmopolitan electricity to" the section of Broadway north of 59th Street . A reporter for The New York Times wrote in 1997 that the Belnord was among "the pantheon of luxurious residences on the Upper West Side". According to Robert A. M. Stern, the Belnord "adds class to the neighborhood—an immeasurable amount of class", which influenced the style in which he renovated
13455-469: The Ansonia and the Belnord, "gave a cosmopolitan electricity to" the section of Broadway north of 59th Street . A reporter for The New York Times wrote in 1997 that the Apthorp's name "hover[s] alongside those of the Ansonia, the Dakota and the Belnord in the pantheon of luxurious residences on the Upper West Side". The AIA Guide to New York City called the Apthorp "monumental and magnificent". By
13662-409: The Apthorp and the nearby Belnord and Astor Court in 1979, said: "All of the buildings share the liability of courtyard apartment houses, which is poor light in all too many of the units, but they also share the ability of all good courtyard buildings to create far more than conventional buildings could a sense of a private, secure world." Christopher Gray wrote in 1987 that the Apthorp, along with
13869-536: The Apthorp as one of several apartment buildings that were famous enough "to maintain their names simply in common custom". The Apthorp was nearly fully occupied at the time of its opening, despite charging rents of up to $ 6,500 per year. When the Apthorp opened, it catered mostly to people who had lived nearby on West End Avenue or Riverside Drive . In contrast to older apartment buildings, where most residents had moved from private houses, about one-third of its residents had relocated from other apartment buildings like
14076-480: The Apthorp into condominiums, Mann said he would not convert the building into condos. At the time of the sale, 96 of the 163 rental units were rent stabilized or rent controlled. Of the units that were not protected by rent regulation, 40 were occupied by residents who paid market-rate rent, while 27 were vacant. Shortly before the sale was finalized in March 2007, one of the project's key financiers withdrew from
14283-575: The Apthorp's bylaws so the sponsors were no longer financially responsible for the unsold condominiums. Richard J. Mack of Area Property Partners said that, although the previous sponsors had already renovated the common areas of the building, "upgrading the finishes and combining units is something that we continue to do." After the leases for the 40 apartments owned by JSR Capital had expired, these units were also renovated. The new sponsors hired Goldstein, Hill & West Architects in July 2013 to design
14490-481: The Apthorp's cash flow had decreased significantly, and income from the building covered only 88% of its expense. There were concerns that one of the building's main tenants, Chase Bank , would move out. Over the years, the Apthorp has attracted many media personalities, including writers, actors, and celebrities, as well as executives of NBC and Warner Brothers . Notable residents have included: In addition, former U.S. representative Beto O'Rourke once worked as
14697-468: The Apthorp. In November 1901, Astor announced that he would spend $ 2.5 million to erect an apartment building on the city block bounded by Broadway, West End Avenue, and 78th and 79th Streets. At the time, the city's first subway line was being constructed under Broadway, with a station at 79th Street, and Astor planned to build an entrance from his building's basement directly to the subway. Astor did not plan to start construction immediately, as
14904-578: The Astor estate, appointed the firm of Wood and Dolson as the building's renting agent in 1930. With the Great Depression, wealthy residents were no longer willing to pay such high rent. As a result, several of the original apartments were divided into smaller units. creating units with three to five rooms. In addition, the servants' bedrooms were converted into apartments. In total, the number of apartments increased by 57. Tenants rented many of
15111-408: The Belnord and the nearby Apthorp and Astor Court in 1979, said: "All of the buildings share the liability of courtyard apartment houses, which is poor light in all too many of the units, but they also share the ability of all good courtyard buildings to create far more than conventional buildings could a sense of a private, secure world." Christopher Gray wrote in 1987 that the Belnord, along with
15318-466: The Belnord for 132 violations of city construction codes, and the building had accumulated $ 65,000 ($ 240,363 in 2023) in unpaid bills and back taxes . The building's roof, mechanical systems, and elevators needed major renovations; many of the apartments had leaks and collapsed ceilings; and the deck beneath the courtyard was in danger of collapsing. Seril claimed that residents of the penthouse apartments had planted roof gardens, which placed extra weight on
15525-631: The Belnord from Newmark in February 1923, at which point the building was valued at $ 6 million ($ 107 million in 2023) and earned over $ 1 million ($ 17.1 million in 2023) per year in rent. The New York Times reported at the time that it was the largest single residential sale in New York City. Edward J. Gould and Jack Stein acquired the building in November 1925 for about $ 6.5 million ($ 113 million in 2023). The Farmers' Loan and Trust Company , acting on behalf of Metropolitan Life, foreclosed on
15732-533: The Belnord in 1974, buying out their partners' stakes. The Serils began demanding that tenants pay overdue rent, claiming that some tenants were illegally subleasing or renovating their apartments, while tenants alleged that the building suffered from numerous structural issues such as a leaky roof, crumbling ceilings, burst pipes, broken elevators, and unreliable water service. Two-thirds of the apartments were still rent-controlled, and typical monthly rents for these units were about $ 60 ($ 371.00 in 2023) per room. This led
15939-553: The Belnord to a group of investors in November 1945. At the time, the building had almost 1,000 residents, and nearly all of its 186 apartments were occupied. The syndicate, the Belnord Realty Corporation, finalized its purchase of the Belnord in December 1945. The new owners successfully petitioned a New York state judge to reduce the building's valuation of $ 3.2 million by 20 percent in 1946. Disputes between
16146-454: The Belnord's annual rents ranged from $ 2,100 to $ 6,500 ($ 63,879 to $ 197,721 in 2023). Many of the Belnord's early tenants were European Jews who had immigrated to the U.S., as well as "unreconstructed Socialists and scores of psychoanalysts". According to a later New York Times article, the Belnord was the United States' largest apartment building for about 15 years and may have been the world's largest apartment building. Max N. Natanson bought
16353-660: The Belnord's tenant association or Seril. Arguments over the building's condition continued. Seril's lawyer claimed in 1984 that she had spent $ 70,000 on new elevators and $ 20,000 on additional changes, but residents said the building still suffered from other issues, including a huge crack on the facade. The HPD's commissioner refused to intervene, saying that he did not want a situation like the siege of Beirut , "where one or both parties are shooting at us". Meanwhile, Seril continued to increase rents by up to 7.5 percent per year. A state judge ruled in March 1987 that rents for over 150 apartments had to be rolled back to 1980 rates, because
16560-556: The British established the Province of New York , the area became part of the "Thousand Acre Tract", owned by several English and Dutch settlers, in 1667. Stephen De Lancey acquired the land from modern-day 78th to 89th Streets before 1729 and used it as his countryside estate. He died in 1741 and left the estate to his son Oliver De Lancey. Charles Ward Apthorp acquired the southern portion of De Lancey's estate in 1763 and developed
16767-487: The French doors had glass paneling. Other design features included radiators concealed beneath windowsills, in addition to gas pipes with rectangular "breaks" to prevent gas explosions. During the 1930s and 1940s, the original apartments were divided. Following these modifications, the Apthorp was split into 165 units. The Apthorp was converted to condominiums in 2010, and some of the apartments were combined, bringing
16974-454: The HPD's tenant-harassment ruling against Seril had never been repealed. The Belnord's tenants established a maintenance fund, the Belnord Landmark Conservancy. The co-chair of the conservancy, Thomas Vitullo-Martin, cited an engineer who estimated that the building needed $ 7 million ($ 18.8 million in 2023) in repairs. Seril sued to evict 50 tenants for nonpayment of rent; her lawyer claimed that
17181-668: The Serils' son-in-law to say: "If you keep the rents in the building lower than they are in the South Bronx, how do you stop the property from running down?" Disputes over the building began to peak in the late 1970s. The Belnord was expelled from the Rent Stabilization Association in 1976 after Lillian Seril failed to pay membership dues, so the rent-stabilized apartments became rent-controlled in 1979, and their rents were decreased by 30 to 50 percent. Many of
17388-489: The Upper West Side (after 15 Central Park West ) and one of the most expensive in New York City. HFZ initially indicated that it would convert all the apartments at the same time, but HFZ officials later announced that they would first renovate 95 of the apartments. HFZ hired architect Robert A. M. Stern in April 2017 to renovate these apartments, and the firm also hired Rafael de Cárdenas to design common amenity spaces within
17595-566: The apartment. Membership in a condo is obtained by buying the shares on the open market, most often through a real estate agent. No board approval is needed to buy shares, but in some cases other stockholders or the housing cooperative itself has the right to claim the stocks being sold. There is usually no requirement for the owner(s) to live in the condo. Owning apartments for rent is a common form of saving and private investment in Finland. In Germany, condominiums are known as Eigentumswohnungen ( lit. ' ownership dwellings ' ) and
17802-511: The apartments also had 8 ft (2.4 m) windows and 11 ft (3.4 m) ceilings. The apartments were designed in a variety of styles, including the Adam , Colonial , Elizabethan , Francis I , Louis XIV , Louis XV , and Louis XVI styles. Some of the units included Baccarat chandeliers, wood paneling, crown moldings , and engraved doors, in addition to marble staircases. The salons had carved fireplace mantels made of marble, and
18009-470: The apartments formerly used window-mounted air conditioners, some of the apartments have been connected to the building's central air system. Originally, each of the building's lobbies was 24 feet (7.3 m) wide. The ground story was initially arranged as dentists' and physicians' offices; two of the ground-level offices were part of duplex apartments with living spaces on the second floor. The ground story contained 17 storefronts by 1921. Each tenant had
18216-478: The apartments in 2015 to the HFZ Capital Group , which converted many apartments to condominium units starting in 2017. The Belnord is located at 225 West 86th Street on the Upper West Side of Manhattan in New York City . It occupies the entirety of a city block bounded by Broadway to the west, 87th Street to the north, Amsterdam Avenue to the east, and 86th Street to the south. The building
18423-569: The apartments to people who did primarily live at the Apthorp. By then, market-rate tenants were regularly paying $ 8,000 to $ 20,000 per month. Apartment-building developer Maurice Mann agreed to buy the building in November 2006 for between $ 425 million and $ 426 million. This amounted to about $ 2.4 million per apartment, the highest per-unit price ever paid for a rental apartment building in Manhattan. Although several other bidders such as The Related Companies proposed converting
18630-515: The apartments, several tenants stated that Seril's contractors did poor-quality work and that Seril refused to allow residents to hire their own contractors. State judge Martin Evans ruled in July 1983 that the striking tenants had to pay back rent; the next January, Evans ended the rent strike and ordered the building's tenant association to pay Seril $ 1.2 million ($ 3.67 million in 2023). According to Evans, many tenants had not made payments to either
18837-426: The association may be in the master deed, or could be a separate set of bylaws governing the internal affairs of the condominium. Matters addressed in the condominium bylaws may include the responsibilities of the owners' association, voting procedures to be used at association meetings , the qualifications, powers, and duties of the board of directors, and the powers and duties of the officers. The Bylaws may also cover
19044-416: The attorney general to investigate these allegations. The building's entire sales team resigned in September 2010, saying they had not been paid commission. Sales resumed after Corcoran Sunshine was hired as the building's sales agent that November. The building's retail condominium was sold in January 2011 for $ 37 million. By mid-2011, a quarter of the apartments had been sold, while about half of
19251-408: The barrel vault "amounted to an architectural rite of passage", separating the enclosed courtyard from the wide-open cityscape. The courtyard is one of the largest in the city and was, at the time of its construction, the largest interior court in the world. It measures 231 feet (70 m) long and is either 94 feet (29 m) or 98 feet (30 m) wide. A 23-foot-wide (7.0 m) driveway leads to
19458-636: The building from Sherman Hoyt, the president of the Belnord Realty Company, in December 1921. At the time, the Belnord was valued at $ 4.5 million ($ 76.9 million in 2023). Natanson immediately resold the building to Charles Newmark of the firm of Newmark and Jacobs. The Riverside Viaduct Realty Company took over the building in February 1922, although the Wood-Dolson Company remained as the building's rental agent. A group of investors, headed by Anderson & Hurd, agreed to buy
19665-443: The building in 1945, and the Belnord fell into disrepair during the next several decades. Between the 1970s and 1990s, the tenants were involved in multiple disputes with then-owner Lillian Seril, and many residents refused to pay rent because of the Belnord's poor condition. Property Markets Group and Gary Barnett bought the Belnord in 1994, and Barnett spent over $ 100 million on renovations. Barnett's Extell Development Company sold
19872-483: The building in October 1994 for $ 15 million. This was equivalent to about $ 66,000 per apartment; had the building been maintained properly, real-estate experts said Seril could have charged market-rate rents and sold each apartment for two to three times as much. Barnett said three European families provided much of the funding for the acquisition; Curbed subsequently reported that Israeli diamond dealer Beny Steinmetz
20079-399: The building to approximately 155 units. The condos include details such as ornate millwork and finishes, tall ceilings and windows, and hardwood floors. As of 2020 , the largest condo in the Apthorp is a 6,100 sq ft (570 m ) unit with five bedrooms and seven bathrooms. The servants' quarters on the top story were also converted to penthouse condominiums. In addition, in 2014,
20286-426: The building was completed. Most of the windows on the facade are rectangular, but there are arched windows on the third, tenth, and twelfth stories. The facade retains many of its original design elements, but objects such as grilles, air-conditioner openings, and lights have been installed over the years. On the western and eastern elevations of the facade (respectively facing West End Avenue and Broadway), there
20493-435: The building was to cost $ 1.8 million (equivalent to $ 61,000,000 in 2023). The next month, a commissioner from the city's Tenement House Department approved plans for several of the building's mechanical systems. To accommodate the service rooms, loading areas, and storage areas in the basement, the site was excavated to a depth of 12 to 20 feet (3.7 to 6.1 m). Excavation of the site included blasting large boulders out of
20700-516: The building's $ 3 million mortgage in May 1926, and Gould and Stein resold the building to Chauncey B. Kingsley the same month. The National City Bank of New York leased some of the building's storefronts in 1928 and remodeled them into a bank branch. The City Bank Farmers Trust Company , the successor to both National City Bank and Farmers' Trust, refinanced the building in 1930, combining the building's original $ 3 million mortgage with another loan of $ 400,000. By September 1935, City Bank Farmers Trust
20907-502: The building's corners. Also on this story were additional servants' bedrooms and bathrooms; two laundry rooms with 140 or 150 tubs; and ironing and drying rooms. The laundry room had 20 boiling tubs and 20 dryers, and the ironing room had 20 irons. The building was also equipped with hundreds of appliances such as telephones, mail chutes, and ashtrays. The typical floor contained ten apartments, each with several rooms; most units were arranged as duplexes. The typical apartment included
21114-490: The building's limestone. In addition, John P. Kane Co. was hired to supply brick for the building. That September, the Belnord gave a $ 3 million (equivalent to $ 102,000,000 in 2023) mortgage loan for the building to the Metropolitan Life Insurance Company . Excavation of the site began on September 18, 1908. Hiss and Weekes submitted plans for the building in November 1908, at which point
21321-478: The building's storefronts and refinanced them in July 2015 with a $ 100 million loan. HFZ planned to convert the apartments into condominiums and submitted a condominium offering plan to the New York Attorney General 's office in April 2016. The offering plan indicated that the units would be sold for a total price of $ 1.35 billion, making it the second-most-expensive condominium development on
21528-407: The building's tenants and owners arose as early as 1954, when the owners converted the main entrance into a butcher's shop and fenced off the inner courtyard. The New York City Landmarks Preservation Commission (LPC) designated the Belnord as a New York City landmark in 1966, although the designation applied only to the outer facade, not to the inner facade along the courtyard. The Belnord was one of
21735-615: The building. Stern planned to rebuild the courtyard driveway, install a central-air system, add a gym and other amenities, and rearrange the apartments. The attorney general's office permitted HFZ to begin selling condominiums in August 2017. Westbrook Partners acquired a minority stake in the project in March 2018, paying $ 660 million. The partners obtained a $ 300 million loan from Wells Fargo that May. The first units were placed for sale in June 2018. The renovated units cost between $ 3.6 million and $ 11 million, although some existing residents paid
21942-542: The buyer paid $ 800,000 in cash and assumed the building's $ 2.2 million mortgage. Fox-Long immediately resold the building to Apthorp Realty Associates, a firm based in the Bronx . Apthorp Realty Associates sold the building once again in mid-1957 to a syndicate of investors. At the time, the Apthorp was cited as containing 158 apartments, 13 stores, and a 140-space parking garage in the basement. The building's original storefronts had been replaced with plastic signage by
22149-409: The case of a freehold condominium the owner owns the land and building and the corporation owns common shared roadways and amenities. The Canadian Condominium Institute is a non-profit association of condominium owners and corporations with chapters in each province and territory. The Condo Owners Association COA Ontario is a non-profit association representing condominium owners with divisions across
22356-725: The city. Meanwhile, William Waldorf Astor had built the Waldorf Hotel in 1893 on the future site of the Empire State Building . Following the success of the Waldorf Hotel, Astor decided to develop Graham Court , an apartment building on Seventh Avenue in Harlem , and then the Apthorp on the Upper West Side. Astor had owned the properties for several years without having developed them. He employed Clinton and Russell, who had worked on Graham Court, to design
22563-399: The city. The Belnord was one of several large luxury apartment buildings developed in New York City during the early 20th century. It was developed following the success of the Apthorp , another full-block apartment building with an interior courtyard, which had been built at 79th Street and Broadway in 1908. The Hoyt family had acquired the site of the Belnord in the late 19th century, but
22770-464: The condo's sponsors had sold 80 percent of the units. Much of the Belnord's retail space remained vacant, though Starbucks leased one of the storefronts as a coffee shop in early 2023. Extell was negotiating with a bank to move into the retail space by June 2024. The next month, Flagstar Bank moved to foreclose on a $ 100 million loan that had been placed on the retail space. Notable residents have included: The New York Times wrote in 2022 that, "From
22977-567: The condominium ( "Condominio" ) is governed by law, last reformed in 2012. Co-ownership of the common parts of the buildings (such as the stairs, main walls, facades, roof, and courtyards) is mandatory: a landlord can not give up the right to common parts for not paying the costs. Each owner's quota in the condominium is expressed in thousandths ( "millesimi" ) of the whole; these are used to determine majorities in owners' assemblies ( "assemblee condominiali" ). See housing cooperative under owners association . Condominiums (Norwegian Eierseksjon )
23184-419: The condominium conversion started. The Attorney General of New York approved Leviev and Mann's condo-offering plan in May 2008. The asking prices, nearly $ 3,000/sq ft ($ 32,000/m ), made it "one of the most expensive condominium conversion projects" ever, according to The New York Times . Anglo Irish Bank provided a $ 385 million first mortgage loan, while Apollo Real Estate Advisors provided
23391-499: The condos. In the 2020s comedic murder mystery series Only Murders in the Building , the Belnord was used as a filming location for exterior shots of the fictional Arconia Building. Interior shots for the show were filmed on a soundstage. Condominium Residential condominiums are frequently constructed as apartment buildings, referred as well as Horizontal Property. There are also rowhouse style condominiums, in which
23598-401: The conversion did not happen. In 1975, the building's owner proposed adding a security booth in the courtyard. A group called 390 West End Associates owned the Apthorp by the late 1980s. As a result of changes to state and city laws during the 1990s, landlords in New York City could renovate rent-regulated apartments to deregulate them, provided that the tenant earned over $ 250,000 a year and
23805-491: The courtyard, is made of terracotta and brick. The Belnord contains two entrances, one each on 86th and 87th Street, which lead to six residential lobbies. The main entrance is via two massive, double-height grand archways on 86th Street, which lead to an interior courtyard. There are keystones with cartouches above each archway. The undersides of the archways contain barrel-vaulted ceilings and multicolored frescoes, as well as three lanterns. The writer Elizabeth Hawes said
24012-410: The courtyard, mostly retain their original layouts. The apartments contain a similar color palette to the public spaces. The kitchens have white lacquer or oak cabinets and gold counters; the guest bathrooms use black-and-white marble; and the master bathrooms contain white marble cladding. Multiple model apartments were created during the condo conversion, including an apartment by Rafael de Cárdenas with
24219-430: The courtyard; the driveway was originally paved in oak blocks as a sound-damping measure. Inside the courtyard are three landscaped gardens, including a small garden surrounded by an iron fence and illuminated by a dozen ornamental street lamps. The garden was decorated with shrubs and trees, and has a center fountain. Early 20th-century photographs of the courtyard indicate that it contained four small patches of grass with
24426-402: The decorations on the walls were also imported. The bedrooms had full-height mirrors mounted onto the doors of the closets, and every apartment had its own wall safe, refrigerator, and telephone system. The units were advertised as having technologically advanced equipment; for example, the refrigerators in the kitchen had built-in ice machines, and there were radiators beneath each window. Each of
24633-449: The development is built on leased land. As condominium unit owners may wish to rent their home to tenants , similar to renting out single-owner real estate, but leasing rights may be subject to conditions or restrictions set forth in the declaration (such as a rental cap for the total number of units in a community that can be leased at one time) or otherwise as permitted by local law. A homeowners association (HOA), whose members are
24840-403: The doors of each lobby had marble frames, and the lobbies' walls were made of Caen stone . As originally designed, the ground level contained physicians' offices, which could be accessed directly from the street, in addition to a drugstore and bank on Broadway at the corners with 78th and 79th Streets. One of the ground-level duplex apartments was a physician's office, where the bedroom was on
25047-490: The end of 1905, workers were excavating the site 24 hours a day, but Astor had not filed plans with the New York City Department of Buildings . Clinton & Russell filed plans for the apartment building in January 1906. At the time, the structure was to be called the "Apthorpe", after the Apthorp Farm. Work took nearly three years because of the Apthorp's advanced mechanical systems and fireproof frame. The Apthorp
25254-576: The equivalent legal structures of a condominium is commonhold , a form of ownership introduced in September 2004. As of 3 June 2009, there were 12 commonhold residential developments comprising 97 units in England and one commonhold residential development, comprising 30 units, in Wales. "Condominium" is not a term that is widely used in England and Wales. Commonhold is a creature of statute and comparatively rare, and condominiums are more likely to be found in
25461-411: The equivalent to a condominium is a "multi-owner building" or "building in multiple ownership". These are sometimes part of a private housing estate comprising multiple buildings but often consist of a single building owned in common. The relationships among the parties, including rights of exclusive occupation of flats and parking spaces, are defined by the deed of mutual covenant ("DMC", analogous to
25668-465: The establishment of conditions for joint ownership and use of inter-apartment stairs, elevators, corridors, roofs, technical basements, non-apartment engineering equipment, adjacent territory, and other common areas. In Singapore and Malaysia , "Condo" or "Condominium" are terms used for housing buildings with some special luxury features like security guards, swimming pools, or tennis courts. In Singapore, most houses without such features are built by
25875-481: The expenditure of money to perform. This did not create a significant problem until the 1950s when flats (where ownership is divided horizontally) first began to appear on the market as more affordable, particularly for first-time buyers. Until then flats had been confined to short-term unsaleable tenancies, with varying degrees of statutory rent protection and security of tenure. It was soon learned that freehold flats were an unsatisfactory form of ownership because it
26082-526: The exterior of the units. Generally, these sets of rules and regulations are made available to residents and or as a matter of public record, via a condominium or homeowners association website, or through public files, depending on the state and its applicable laws. Condominiums are usually owned in fee simple title , but can be owned in ways that other real estate can be owned, such as title held in trust . In some jurisdictions, such as Ontario , Canada, or Hawaii US, there are "leasehold condominiums" where
26289-404: The exteriors of the dwellings or yards, and "site condominiums", where the owner has more control and possibly ownership (as in a "whole lot" or "lot line" condominium) over the exterior appearance. These structures are preferred by some planned neighborhoods and gated communities . The description of the condominium units and the common areas and any restrictions on their use are established in
26496-432: The fifth story. The five center bays of the western and eastern elevations, and two groups of two bays on each of the northern and southern elevations, contain rusticated limestone facade. In the center five bays of the western and eastern elevations, the windows are topped by either flat lintels or arched pediments , and the 10th-story windows also have keystones. The eleventh and twelfth stories are designed similarly to
26703-574: The first buildings on the Upper West Side to be designated as a New York City landmark. All of the Belnord's 290 apartments were placed under rent control during the late 20th century, since the building had been erected before World War II. After New York's rent-regulation laws were modified in 1971, the Belnord joined the state's Rent Stabilization Association; this allowed its owners to convert rent-controlled apartments to higher-paying rent-stabilized units after existing tenants had moved out. Nathan Seril and his wife Lillian gained complete control of
26910-423: The first-floor mezzanine typically contained 16 apartments. The building was initially divided into six sections, each with two to four apartments per floor; each section was served by its own set of elevators. To minimize the amount of space that was occupied by corridors, the elevator lobbies on each floor connected directly with the apartments on that floor. Although many apartments contained bedrooms for servants,
27117-524: The form of leaseholds because of long-standing legal differences between leasehold and freehold tenure. By virtue of the landmark case of Tulk v Moxhay , in English law only restrictive covenants can be enforced against freehold land. This means it is not possible to enforce a positive covenant on successive owners of freehold land, other than to maintain a boundary fence, without creating an elaborate trust. A positive covenant is, broadly, one that involves
27324-526: The fountain and adding a guard booth and central lobby. After renovating the courtyard, he rented the basement to electronic store P. C. Richard & Son in 2003. Barnett also added a children's playroom that could be used as a meeting space, as well as a fitness center. Barnett leased 76 apartments to their respective tenants for 49 years in 2006; these residents agreed to annual rent increases of up to 5 percent, and they were restricted from bequeathing their apartments under certain conditions. Barnett received
27531-436: The freedom to select whom to sell to, under-the-table payments are common. Current public policy favors condominiums over housing cooperatives, and recent legislation has aimed at making the latter more condominium-like. For example, since 2005, cooperative shares may be used to secure bank loans. (However, Danish mortgage banks still may not mortgage individual housing cooperative apartments.) In England and Wales , one of
27738-483: The get-go, the Belnord was a newsmaker—an edifice of excess, a home for hyperbole." When the Belnord opened, the Real Estate Record and Guide wrote: "It is delightful to be able to step from the library in a smoking jacket and drop a letter into the chute running down through the semi-private vestibules." The New-York Tribune wrote that the Belnord was one of several apartment houses "where the seeker after
27945-434: The governmental Housing Development Board (HDB), and such HDB units can be possessed for rent or individually bought from the government. Condominiums and HDB flats make up the overwhelming majority of available residential housing in the country. The Apthorp The Apthorp is a condominium building at 2211 Broadway on the Upper West Side of Manhattan in New York City , United States. The 12-story structure
28152-455: The houses to rent-regulated tenants for free; other tenants stayed at the Belnord but relocated to a smaller apartment. CVS Pharmacy leased the Belnord's ground-level storefront in April 1998, and six existing tenants were relocated, but the opening of the CVS location was delayed by a year. The Belnord also contained the first headquarters of Barnett's company Intell Development (later Extell ). By
28359-401: The individual retail and office spaces are owned by the businesses that occupy them, while the common areas of the mall are collectively owned by all the business entities that own the individual spaces. Unlike apartments, which are leased by their tenants , in most systems condominium units are owned outright, and the owners of the individual units also collectively own the common areas of
28566-535: The inside, it's a corpse". The Times wrote in 2002 that the Apthorp "was evolving from comfortable West Side icon to gilded palace for the very, very rich". At the time, 390 West End Associates had asked the New York State Division of Housing and Community Renewal for permission to raise monthly rents by $ 25 per room so they could pay for the $ 1.8 million cost of elevator replacement. Two tenants' groups objected to this proposal, saying that
28773-413: The interior dates to a 2010s renovation by Robert A. M. Stern . The facade is divided horizontally into three sections: a five-story base, a seven-story shaft, and a one-story upper portion. The first three stories of the base have a rusticated limestone facade, above which is a horizontal band course . The fourth and fifth stories are clad with brick and are topped by another band course. The facade of
28980-547: The interior side of the walls surrounding a condo, allowing the homeowner to make some interior modifications without impacting the common area. Anything outside this boundary is held in an undivided ownership interest by a corporation established at the time of the condominium's creation. The corporation holds this property in trust on behalf of the homeowners as a group—it may not have ownership itself. Some condominium complexes consist of single-family dwellings. There are also "detached condominiums" where homeowners do not maintain
29187-400: The kitchens also contained custom-designed cooking ranges, a garbage chute, and two laundry tubs. The renovated condominiums are generally larger than the rental apartments that they replaced. Stern removed many of the partition walls between the living rooms, dining rooms, and kitchens, creating open plan living spaces that generally face the street. The bedrooms, which were arranged to face
29394-407: The landlords were illegally deregulating apartments. After the corpse of a German tourist was discovered on the building's roof in early 1997, The New York Times wrote that "it struck some tenants not as an oddity but as a metaphor, a sign of how surreal life in the Apthorp had become". Joe Winogradoff, a longtime tenant, said in an interview that the Apthorp was "beautiful on the outside, but on
29601-400: The late 1990s, the newly renovated apartments were being rented for up to $ 13,500 per month. Feldman sold his stake in the building in 2000. The Wall Street Journal reported in 2001 that Barnett had resold 40 units in total, including 15 units where he had bought out or traded with existing tenants. Many of the Belnord's remaining rent-regulated residents were elderly, which made the building
29808-592: The late 2010s. The design of the apartments dates to a 2010s renovation by Robert A. M. Stern . A group of investors acquired the site from the Hoyt family in 1908 and developed the Belnord there. When the building was completed in October 1909, it was characterized as the United States' largest apartment building. The Belnord was sold multiple times in the 1920s before being acquired by the City Bank-Farmers Trust Company in 1935. The bank sold
30015-448: The late 20th century. The owner 390 West End Associates sold the building in 2006 to Maurice Mann, who partnered with Africa Israel Investments to convert the building into condos. After numerous delays and disagreements, the condominium-offering plan went into effect in 2010, and a subsidiary of the Feil Organization took over the building's management. Area Property Partners took over as the condo project's sponsor in 2012. The Apthorp
30222-445: The lawsuit was settled the next month. Mann later resigned from the project altogether. To attract buyers, Africa Israel and the Feil Organization reduced condominium prices by approximately one-third, to $ 1,950/sq ft ($ 21,000/m ), in early 2009. The sponsors hired Dolly Lenz as the building's broker in July 2009; at the time, 17 condos had gone into contract. The sponsors needed to sell 25 total units within six weeks. This
30429-521: The lease agreements in 2013 after finding that Barnett had tried to bypass rent-regulation laws, and these apartments reverted to being rent-stabilized. The same year, the building's Banana Republic store relocated across Broadway. Barnett agreed to sell the residential portion of the building in late 2014 to his former partner Ziel Feldman. Feldman's company, the HFZ Capital Group , took over in March 2015 after paying $ 575 million; this equated to about $ 2.64 million per apartment. Extell retained ownership of
30636-407: The leases of the site's existing occupants had not expired, and the subway had not opened; the subway ultimately opened in 1904. Clinton and Russell had drawn up plans for the building by mid-1905. At the time, the edifice was planned to be 20 stories tall and was to contain apartments with between four and eighteen rooms. Nonetheless, Astor continued to defer the building's construction. The delay
30843-416: The legal power to collect that. Condominium ownership is also used, albeit less frequently, for non-residential land uses: offices, hotel rooms, retail shops, private airports, marinas, group housing facilities (retirement homes or dormitories), bare land (in British Columbia ) and storage . The legal structure is the same, and many of the benefits are similar; for instance, a nonprofit corporation may face
31050-605: The master deed described above) and the Building Management Ordinance Cap. 344. Condominiums are a very common form of real estate ownership in contemporary Hungary, as most state- or municipality-owned apartments were privatized following the end of socialism in Hungary in 1989. Historically, condominiums ( Hungarian : társasház ) were formalized as a legal ownership structure as early as 1924. Condominiums in Hungary are traded and mortgaged on
31257-443: The midsection is also made of brick, except at the corners, which contain vertically arranged quoins . The outermost bays are wider than the others on the facade and are flanked by the quoins. A third band course runs above the twelfth floor. The top story contains decorative panels between each window; above it is a cornice with dentils . The windows are of varying sizes and contain classical decoration. The interior facade, facing
31464-485: The most important law considering condominiums is the Wohnungseigentumsgesetz (abbreviated WoEigG). It is the basis for all legal regulations involving individual freehold ownership, the rights, and duties of homeowner associations, and the management of condominiums. The WoEigG dates back to 1951, but it was re-enacted in 2007. Now, homeowners are invested with partial legal capacity, which means that
31671-535: The obligations of the owners with regard to assessments, maintenance, and use of the units and common areas, although those obligations are often found in the condominium's founding documents. Finally, they may set limits on the conduct of unit owners and residents. These are more readily amendable than the declaration or association bylaws, typically requiring only a vote of the governing body. Typical rules include mandatory maintenance fees (perhaps collected monthly), pet restrictions, and color/design choices visible from
31878-647: The original design details were preserved in the 2010s renovation, including floor vestibules with mosaic tiles. Stern also installed black-and-white decorations within the public spaces, which were inspired by Dorothy Draper's original decorations for the Carlyle Hotel on the Upper East Side . These decorations included marble vestibules, white hallways, and black apartment doors. The Belnord originally contained 175 or 176 rental apartments, each of which contained up to 11, 12, or 14 rooms. Each floor above
32085-539: The other being a Co-operative Housing Society (CHS) or Co-operative Group Housing Society (CGHS), which needs to be registered with the municipal authorities. Iranian government has begun supporting villas and opposing apartment building concerned by people's manner. In Israel, condominiums (known "בתים משותפים" , "shared houses" or "cooperative houses") are a common form of home ownership. Public housing has historically been organized as subsidized purchases and mortgages in government-constructed condominiums. In Italy,
32292-792: The owners themselves; in the 21st century, however, the owners' convention typically hires a professional building manager who does not personally live in the building. Decisions that involve changes to the terms and conditions, or larger common expenses, still need to be approved by the convention, however. Voting power is based on the percentage of property owned. In India, condominiums are known as "Apartments" or "Apartment Buildings/Complexes" or "Societies" or "Flats". Each building consists of multiple floors and flats/living units with different configurations. The most common configurations are "1-BHK", "2-BHK" and "3-BHK" (BHK stands for bedroom-hall-kitchen). The association of homeowners has many names - two common names are Resident Welfare Association (RWA) and
32499-733: The owners through their association, such as a homeowner association or its equivalent. Scholars have traced the earliest known use of the condominium form of tenure to a document from first-century Babylon . The word condominium originated in Latin . Condominium is an invented Latin word formed by adding the prefix con- 'together' to the word dominium 'dominion, ownership'. Its meaning is, therefore, 'joint dominion' or 'co-ownership'. Condominia (the Latin plural of condominium ) originally referred to territories over which two or more sovereign powers shared joint sovereignty. This technique
32706-405: The penthouses. The plans required unanimous consent from condo owners, but many owners had indicated that they would not support any version of the penthouse plan. When the sponsors presented a new plan for the penthouses in June 2014, numerous residents expressed disapproval. A scaled-down version of the penthouses was finally approved in August 2014. The parking garage in the Apthorp's basement
32913-421: The plant was placed beneath the courtyard rather than beneath the building itself, this reduced vibrations in the apartments. Six service elevators lead from the basement to all stories, while four passenger elevators run between the lobby and the top story. The building contains a steel superstructure , including floor beams made of pig iron . The partitions between each apartment are made of terracotta, which
33120-552: The property, such as the exterior of the building, roof, corridors/hallways, walkways, and laundry rooms, as well as common utilities and amenities, such as the HVAC system and elevators. In other property regimes, such as those in Hong Kong and Finland , the entire buildings are owned in common with exclusive rights to occupy units assigned to the individual owners. The common areas, amenities, and utilities are managed collectively by
33327-412: The province and districts within the various municipalities. Apartments (Danish ejerlejlighed , literally "owner-apartment") comprise some 5% of Danish homes. They are traded and mortgaged on the same markets as freestanding houses, and are treated legally much like other forms of real estate. Each owner-tenant directly owns their own apartment; the rest of the building and the ground on which it stands
33534-481: The provisions to create enforceable positive covenants in freehold blocks of flats were occasionally mooted but never gained currency. On 21 July 2020 the UK Law Commission reported on the existing difficulties and made proposals to improve the law and encourage the acceptance of commonhold as the preferred form of tenure. In Finland, a condominium-like arrangement where the ownership of the real estate
33741-413: The purchase of a flat, for the requirements for a fully marketable flat remain complex. The Law of Property Act 1925 , s. 153, contains provisions for the "enlargement" of leases into freeholds, one of the effects of which is to preserve the enforceability of positive covenants contained in the lease against the resulting freehold. There are clear, but stringent, requirements. Artificial schemes using
33948-401: The rabbinical court from which they would seek arbitration. Ultimately, Mann agreed to step down as the building's manager while retaining his ownership stake. Broadwall Management, a subsidiary of the Feil Organization, took over as the building's manager. Mann sued in March 2009 to prevent Africa Israel and the Feil Organization from refinancing the Apthorp with a loan from Anglo Irish Bank;
34155-510: The rent increases would cause some of the apartments to be deregulated. At a meeting in 2004, some residents claimed that the quality of services, including mail delivery, garbage disposal, and maintenance, had decreased because many longtime staff had retired. In addition, the New York Court of Appeals found in 2005 that the owners had rented the apartments to a man who agreed not to use the units as his primary residence, then subleased
34362-552: The rent-stabilized tenants objected to paying lower rents, saying that the building had fallen into disrepair. Several tenants recalled that they had to sneak refrigerators, kitchen tiles, and repairmen into the building in the middle of the night, because Seril would not allow them to replace their appliances. About 100 tenants began a rent strike in 1978, placing their rent payments into an escrow account. The building's tenant association raised $ 330,000 ($ 1.54 million in 2023) from rent strikers within two years. Some of this money
34569-607: The roof. In spite of the maintenance issues, many tenants remained in place, in part because of the extremely low rent; for example, a six-room apartment cost $ 460 per month ($ 1,701 in 2023). The HPD ruled in 1981 that Seril had harassed tenants and had failed to make necessary repairs. Seril sued the rent-striking tenants in March 1983, claiming that they owed $ 7.5 million ($ 22.9 million in 2023); she sought at least $ 9 million in damages. Tenants claimed that they had been withholding rent to pay for repairs. Although Seril alleged that tenants had refused to let maintenance workers inspect
34776-401: The same market as any free-standing single-family home ( Hungarian : kertesház ; "garden-house"), and are treated much like other forms of real estate. The condominium acts as a non-profit legal entity maintaining the common areas of the property, and is managed by a representative ( Hungarian : közös képviselő ) elected by the owners' convention. Historically, this representative was one of
34983-427: The security of flats unless certain basic provisions were included. This benefited owners whether or not they borrowed money since the purchase was invariably conducted through a solicitor or licensed conveyancer trained to reject leases failing to meet the necessary standards. Despite these standards, the actual form of leasehold systems is variable. Highly favoured are arrangements where the leases are granted out of
35190-514: The site remained vacant for 20 years. The Belnord Realty Company syndicate bought the block bounded by Broadway, Amsterdam Avenue, and 86th and 87th Streets from the Broadway and Eighty-sixth Street Company, a holding company for the Hoyt family, in July 1908. The syndicate was composed of numerous businessmen, including Henry Reese Hoyt and Sherman Hoyt, whose family had owned the site previously. The purchasers immediately announced plans to construct
35397-446: The smaller apartments shortly after they had been renovated. The building's facade was steam-cleaned in mid-1933, around the same time that the apartments were being divided. By the 1940s, the building's residents were largely involved in businesses such as medicine, finance, banking, and real-estate brokerage. In June 1950, the Astor estate entered a contract to sell the Apthorp to Alexander Gross, president of Apthorp Estates Inc., at
35604-607: The south, while the First Baptist Church in the City of New York is directly to the north. An entrance to the New York City Subway 's 79th Street station , serving the 1 train, is directly outside the northeastern corner of the building. Before European colonization of modern-day New York City, the site was part of the hunting grounds of the Wecquaesgeek Native American tribe. After
35811-399: The sponsors had made contradictory statements; Africa Israel had known as early as February 2011 that Anglo Irish had wished to sell the loan but had testified at the time that the sale would not affect the building or its sponsors. Africa Israel withdrew its lawsuit in December 2011, and a judge gave Anglo Irish Bank permission to sell the debt on the mortgage loan to Arefin U.S. Investment,
36018-427: The statue to be an extravagant expense, especially as their rents were rising. There was also growing discontent between existing rent-regulated tenants, who paid as little as $ 2,000 per month for eight-room units, and the landlords, who could rent the same apartment for $ 10,000 at market rates. Residents filed several lawsuits, alleging that several apartment buyers had bribed the landlords and existing tenants, and that
36225-483: The structure. In addition, Frank Williams was the interior designer, Batterson & Eisele provided the marble, the W. H. Jackson Company installed the tiling and fireplaces, and the Atlantic Terra Cotta Company made the architectural terracotta . The facade was designed as a variation of a three-story Renaissance palazzo . As such, the facade is divided horizontally into three sections:
36432-399: The tenants to move out. Mann wished to market the Apthorp as a luxury condominium, but several former tenants said the building suffered from several issues, including lead paint, asbestos , brown water, and a lack of central air in some apartments. Leviev and Mann presented a red herring prospectus to tenants in August 2007, indicating that existing tenants would not be forcibly evicted when
36639-413: The tenants were trying to drive Seril into bankruptcy. In 1991, a state judge ruled that Seril had to begin repairing the roof; these repairs were still not completed four years later. The next year, workers began repairing five canopies outside the building; after one of the canopies collapsed, Seril's architect requested that the LPC permit workers to uninstall the other canopies. Seril continued to dispute
36846-471: The time, Anglo Irish was selling all of its commercial real-estate holdings in the United States. Bank officials claimed that the Apthorp's sponsors had forgone the right to sell the debt because they had failed to sell a certain number of condos and, thus, were in default on the loan. The attorney general's office also halted condominium sales at the Apthorp and ordered that the sponsors return buyers' deposits. According to attorney general Eric Schneiderman ,
37053-406: The time, market-rate tenants typically paid $ 14,266 per month, while rent-regulated tenants only paid $ 1,154 per month. As a result of the court ruling, Barnett had trouble making payments on his interest-only loan, which was sent to special servicing in 2011. The loan was removed from special servicing in early 2012, after Barnett had made all overdue payments. The New York Court of Appeals voided
37260-501: The top story contained additional servants' quarters, with hardwood floors, cement walls, and bathrooms. By the 1940s, the servants' rooms on the upper stories had been subdivided, and the Belnord contained 225 apartments. When the Belnord was converted to condominiums in the late 2010s, it was divided into 231 units. The first 95 condos, with two to five bedrooms each, were sold beginning in 2018. Originally, servants' rooms, bedrooms, and family rooms were generally separated. Each apartment
37467-414: The total apartments remained under rent regulation. In addition, Stephen Sills Associates designed an amenity area in the basement the same year. Even after the condo conversion, existing residents contended that the building still had significant issues. After Anglo Irish attempted to sell the building's first-mortgage debt, Africa Israel sued in September 2011 to prevent the debt from being sold. At
37674-471: The transaction, so Mann obtained $ 55 million from Lev Leviev of Africa Israel Investments . The day after Mann acquired the Apthorp, Leviev bought a 50 percent stake in the building. Leviev implied the building would be converted to condominiums, with Africa Israel and Mann as co-sponsors of the project. Leviev and Mann had not publicly confirmed the condo-conversion rumors until mid-2007, when many tenants' rents were more than doubled, prompting some of
37881-399: The unit owners, manages the condominium through a board of directors elected by the membership. This exists under various names depending on the jurisdiction, such as "unit title", "sectional title", " commonhold ", "strata council", or " tenant-owner's association ", "body corporate", "Owners Corporation", "condominium corporation" or "condominium association". Another variation of this concept
38088-413: The units open directly to the outside and are not stacked. Alternatively, detached condominiums look like single-family homes , but the yards (gardens), building exteriors, and streets, as well as any recreational facilities (such as a pool, bowling alley, tennis courts, and golf course), are jointly owned and maintained by a community association . Many shopping malls are commercial condominiums in which
38295-434: The upper level. At the time of the Apthorp's completion, large apartment buildings in New York City did not typically have ground-story storefronts, since the public generally considered such buildings to be entirely residential. The ground-level offices were converted to storefronts at some point between 1910 and 1939. In 2011, a 8,300 sq ft (770 m ) amenity area with a gym, playroom, and entertainment center
38502-495: The way, a process that took four months. Construction of the building's steel frame began on January 1, 1909. By March 1909, the steelwork on the western portion of the site was complete, while the eastern portion was still being excavated. The construction of the Belnord inspired the development of other nearby apartment buildings, particularly on vacant lots that had been owned by real estate speculators for several years. The Belnord opened on October 1, 1909. W. H. Dolson & Co.
38709-416: Was 50 feet (15 m) deep, facing both the street and the courtyard. Many apartments had a library, dining room, and parlor. The bedrooms and servants' rooms typically faced the courtyard, which was wider than the neighboring section of 86th Street. Family rooms such as living rooms, parlors, dining rooms, and kitchens faced the street. In general, each apartment was accessed by a large foyer. The foyer led to
38916-418: Was a telephone switchboard made of Vermont marble, measuring 7.5 by 15 feet (2.3 by 4.6 m). The modern-day condominium building contains service rooms, such as mechanical, plumbing, and electrical rooms, in its two basements, ground level, and roof. The Belnord is served by the city's gas supply system and power grid, although the building produces its own steam using boilers in the sub-basement. Although
39123-423: Was because of a state law that required 15 percent of condos to be sold within 15 months of the condominium offering being approved. Meanwhile, by late 2009, existing residents claimed that the renovations had caused numerous issues, including high asbestos and lead levels, as well as rodent infestations. This prompted city officials to investigate the Apthorp, and New York attorney general Andrew Cuomo conducted
39330-455: Was built in the basement. The space contains cork and oak floors, gilded plaster columns, and marble-covered tables. When the Apthorp was completed, it was marketed as the world's largest apartment building. There were originally 104 apartments in total. The first two stories contained seven duplexes , spread across two levels, as well as multiple single-story units. The 12th story contained guestrooms, with their own bathrooms, at three of
39537-406: Was capable of 350 horsepower (260 kW); these boilers provided all of the building's steam. There was a coal bunker next to the boiler room. The refrigeration room contained an ice machine with a capacity of 25 tons, as well as a vacuum-cleaning system. An electric motor ventilated air from the basement; the apartments originally did not have a ventilation system. The Belnord drew cold water from
39744-516: Was caused by Astor's dissatisfaction with the labor unions who were building the Hotel Astor on Times Square , as well as the fact that Astor could not decide whether the building on 79th Street should be 14 or 16 stories. Workers began clearing the site in October 1905. John Downey, who had built both the Waldorf and Astor hotels, was hired as the general contractor the same month. By
39951-478: Was completed in August 1908. The structure had cost $ 2 million to construct, and the land had cost another $ 1 million. The Apthorp was one of several early-20th-century apartment buildings in Upper Manhattan that were primarily identified by an official name; at the time, many new apartment buildings in the area were known by their addresses. Christopher Gray of The New York Times described
40158-428: Was delayed for four years due to uncertainty over the plans. Workers began clearing the site in October 1905, and the building was completed in August 1908. The Astor family operated the building for over four decades, adding storefronts in the late 1920s. Many of the units were divided during the 1930s and 1940s. The Astor family ultimately sold the building in 1950, and the building changed ownership several times through
40365-402: Was designed by Clinton & Russell in the Italian Renaissance Revival style and occupies the full block between Broadway, West End Avenue , and West 78th and 79th Streets . It was built between 1905 and 1908 as a residential hotel by William Waldorf Astor , who named it after the Apthorp Farm , of which the site used to be part. The Apthorp is a New York City designated landmark and
40572-431: Was finalized in July 2010, at which time 38 of the units had gone into contract. The Real Deal magazine reported that brokers expected to close about $ 100 million worth of contracts within six weeks; the condos were being sold for up to $ 16 million each. That month, Anglo Irish restructured the mortgage loan that it had placed on the property. Several buyers reportedly rented out their apartments, prompting
40779-410: Was foreclosing on the building's mortgage loan to satisfy a $ 3.459 million debt. The foreclosure proceedings were delayed to May 1936, when the bank took over the building after bidding $ 3.4 million ($ 74.7 million in 2023) at a foreclosure auction. The 225 West 86th Street Corporation, controlled by City Bank Farmers Trust, owned the building for the next nine years. The bank began negotiating to sell
40986-506: Was formally introduced in 1983. Approximately 19% of Norwegian homes are condominiums, as approximately 50% of the owner-occupied flats and duplexes, approximately 30% of the rowhouses, and 2.5% of the detached houses are organized as condominiums. The title "Condominiums" is not used in Pakistan rather they are called "Flats" for average-style buildings while "Complexes" for sophisticated and larger buildings. The minimum number of floors for
41193-579: Was frequently used to settle border disputes when multiple claimants could not agree on how to partition the disputed territory. For example, from 1818 to 1846, Oregon Country was a condominium over which both the United States and Great Britain shared joint sovereignty until the Oregon Treaty resolved the issue by splitting the territory along the 49th parallel and each country gaining sole sovereignty of one side. The distinction between
41400-485: Was hired as the building's first rental agent and opened an office there in October 1909. The Belnord initially offered free electricity, refrigeration, and vacuum-cleaning services. It could be easily accessed from other parts of New York City through its proximity to the subway, the Ninth Avenue elevated line , and several streetcar routes. Because of its size, the Belnord employed a full-time staff of 100. By 1914,
41607-472: Was intended to limit the spread of fire. Marble, glass, onyx, and light stone were only used for decorative purposes, and the Apthorp originally did not contain any wood decorations, except for furniture. As a further fireproofing measure, the building also contained kalamein doors and a system of standpipes . In addition, each corner of the building contained a mail chute . Each of the building's four sections has its own lobby with elevators and staircases;
41814-487: Was not possible to impose essential maintenance requirements. As such, flats became virtually unmarketable because they were an unacceptable form of security to lenders. Thus solicitors, the principal property lawyers in England and Wales in those days, began to use leases instead, where such limitations did not apply. Progress was haphazard and piecemeal, but over time things became more standard. Improvements became universal as institutional lenders refused to advance money on
42021-412: Was one of the largest financial backers of PMG's purchase. The state government unfroze the rent after the new owners promised to spend $ 5 million on renovations; at the time, many tenants were paying as much rent as they had in 1979. To pay for the improvements, the owners raised tenants' rents by up to 60 percent between 1994 and 1995. Tenants also withdrew all of their lawsuits against Seril, who retained
42228-421: Was paying over $ 2,000 per month. In the late 1990s, to attract tenants such as bankers and company executives, 390 West End Associates renovated the building for $ 10 million. The facade was cleaned, and a gatehouse was added. The apartments' plumbing, wiring, electrical appliances, and air-conditioning were also renovated. They also installed a large marble statue in 1998, but many existing tenants considered
42435-478: Was sold in mid-2014 for $ 12.3 million. Around the same time, Ares Management (which had acquired Area Property Partners' holdings, including the Apthorp) fired Corcoran Sunshine as the building's brokerage firm. Ares instead had its own staff market the condominiums. A joint venture between Thor Equities and Imperial Companies bought 70 of the condominiums in 2016 for a total of $ 112 million. By 2024,
42642-403: Was the "largest apartment building in the country, and maybe the world." Its design features, such as an interior courtyard, bay windows , and large apartments, were intended to evoke those of the Dakota apartment building and to attract wealthy tenants who had been unable to move to it. The George A. Fuller Company was the general contractor for the Belnord's construction. The modern design of
42849-404: Was used to pay an administrator, whom Manhattan Housing Court judge Ralph Waldo Sparks appointed in early 1980. The New York Times said that the appointment of an administrator was "usually reserved for slum tenements in desperate throes". The tenants also hired an engineer in 1979, who estimated that the building needed $ 5 million ($ 21 million in 2023) in repairs. The Belnord was added to
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