GalaxyFacts Chat Room

[admin]

[Guest]

Yes you heard it here first. Lerner and the stupids spent probably thousands of your dollars to try to vacate Lungo's judgment which I believe amounted to $1,000. The judge denied the motion. The GTCA must pay Lungo on top of what they had to Pay K$ngman to try to vacate the order. Is this another example of his inexperience in condo law and lerner's majority's ignorance in agreeing to this stupid idea which wasted OUR money on Lerner's revengeful vindictive tactics

AND DID YOU NOTCE HOW KINGMAN "FORGOT" TO MENTION THIS IN THE LAST TWO BOARD MEETING'S LEGAL REPORTS???



Mike

[Guest]

truly disgusting. looking forward to the announcement of franco's win at the next board mtg

[Guest]

Last year, the GTCA paid for two fairly serious mold remediations...yes, the GTCA....one of these cases involved a director OTHER THAN MR. LUNGO...

While these cases were receiving the attention they deserved, the bill at the heart of the third party action taken by the BOD against Mr. Lungo was receiving by the GTCA accounting department in March 2009....

where it stayed UNPAID for nine months...

It appears from the final records recently released by the GTCA that this bill WAS finally paid in JANUARY 2010...before the suit was filed against Mr. Lungo...

Can I say for sure that the check was not only WRITTEN but MAILED?...no, I can't, because the GTCA has a bad history of "losing" checks written for bills it doesn't feel like paying... but there was a check...

How much money was wasted on this case? And how much money was wasted on the simultaneous case against me for "conspiring with Jan Van Bergen" to prevent fire safety repairs from being done ''


The only payments made with no "remarks" about the nature of the bill are LEGAL FEES...

More about this later...one thing is for sure...the GTCA pays "legal" fees for some wacky activities by lawyers...

Barbara Tokay

[Guest]

100 01//10 01/14/10 K-11607 6227 0.00 617.94 -156,535.31 3/8 ga hr channnel 24"x48"x24"x20", 24"x48", 48"x20", 3"x12 0.00 550.00 -157,085.31 replace granite in ladies bathroom
100 01//10 01/14/10 K-11609 6229 WEST NEW Y 0.00 378.00 -157,463.31 cylinder, keys duplicate
100 01//10 01/14/10 K-11610 6230 0.00 2,025.00 -159,488.31 wet sprinkler sytem inspection T3
100 01//10 01/14/10 K-11611 6231 IMPERIAL PA 0.00 5,900.00 -165,388.31 repair, prime & paint damaged walls & ceiling Unit 2-44C
100 01//10 01/15/10 K-11620 90015 HESS CORPO 0.00 215,103.19 -453,645.05
100 01//10 01/15/10 J-11192 TFR Dep to OTFR Dep to O 530,877.66 -0.00 77,232.61 TFR Dep to Oper
100 01//10 01/15/10 J-11194 TFR Dep to OTFR Dep to O 50,766.73 -0.00 127,999.34 TFR Dep to Oper HESS [/size]


1/14/10 hmmm didn't they vote to add Lungo as a third party defendant in February of 2010 in the middle of the election? It looks like they paid IPD on 1/14/10, unless the Board has the accounting department lie on the operating account expenses like they seem to do on the questionnaire they have to fill out for banks when an owner is applying for a loan. more on that later but it looks like they told my bank the budget was 12 or 13 million ! I could have sworn it was $18,000,000 ! was this an oversight? I will be posting the questionnaire after I notify my bank of what appears to be inaccurate or possibly fraudulent numbers created to satisfy a banks requirements when an owner is applying for a loan. For example the amount or percentage of the budget contributed to the reserves or the amount of people who own multiple units seems to be very wrong on the questionnaire filled out for my bank. I have ZERO tolerance for fraud. I will not be a party to anything I believe may possibly be fraud. I will contact the bank , even if it means I may lose my chance to refinance.
Mike

[Mike]

[Mike]

I guess Lerner doesn't want to mention the Coalition, and the Lungo, and the Mall?? , and Gorman? or was that settled, lawsuits

[Guest]

doesn't cooper sq get this information from the accounting department?and doesn't the accounting department report to Lerner and Miller?

[Guest]

Incredible, Mike....talk about STUPID: why would the GTCA expose itself to being a party to mortgage fraud?

Here's how the FBI defines mortgage fraud:


Mortgage Fraud is defined as the intentional misstatement, misrepresentation, or omission by an applicant or other interested parties, relied on by a lender or underwriter to provide funding for, to purchase, or to insure a mortgage loan.

Yes, we do indeed have an $18 million budget and $4.9 million goes directly to Banco Popular to pay off the loan...$300,000 is going to "reserves", meaning it is available to make major repairs and restorations.

As far as I can tell from the records provided by the GTCA, the BALANCE in our reserve account ranges from $200,000 to $600,000 depending on whether the current month's R&R contribution has been transferred...

In the last two years, the FHA, Fannie Mae, and Freddie Mac, which end up with most of the home mortgages written in the US, have established much tighter guidelines for condo mortgages for both new and established properties.

These guidelines state that the condo must put 10% of its budget into a reserve fund--that's designed to ensure that owners aren't hit with draconian special assessments to pay for necessary major repairs (like the elevator modernization). There are also restrictions on the number of investment units.

The Galaxy doesn't meet the guidelines at this point.

This is the worst kind of irresponsbility--and the FINGER points directly to the STUPIDS because the accounting department, which supplies the numbers, reports DIRECTLY to the STUPIDS.



Barbara

[Guest]

TAX RECORDS DON'T LIE
43.01 46.01 C146A 7000 BLVD EAST APT 46A MILLER, BERNICE & RICHARD

43.03 30.02 C330B 7004 BLVD EAST APT 30B MILLER, RICHARD J

OH look they forgot to mention Richard miller owns two apartments. !!

Didn't he run for the Board as a Tower 1 owner even though he really lives in T3?

mike

[Guest]

1/14/10 hmmm didn't they vote to add Lungo as a third party defendant in February of 2010

Sorry I just found out that Lungo was added as a third party defendant in MARCH 2010, the ledger says we paid IPD for the work in his apartment in January.

Mike

[Guest]

the budget, which is really $15 million ( We are putting $300,000 into "reserves" the rest goes to the loan payment.

K$$ngman forgot about Gorman I guess still not settled .$400K still "reserved" for this suit.

The list of multiple owners is missing a few
Marty Sergi (AKA The Mall at the Galaxy, 13 of 32 subunits, currently in bankruptcy)

Valerie White (Samuels), owner of two residential units
Amanda Properties, 3 units

Richard Miller (his mother's unit plus his own--he is an owner of both), Bob Mehta (2 units, one in T1, one in T2

Mac Mak (1 in T3, 1 in T1), John Fressie (2 units in T1, joined)

Embry (mother & son, 2 units)

Dilek Ertek (2 units, 1 bought in Nov 2009)

Kratt (3 units, not 2)

Mirbod Family Trust (2 units)


Veconi is also KOUTZAROFF (at least 1 more unit)

Loretta Stamo (2 units)

Shim (4 units), Volchik (3 units, not 2

Tam Living Trust (2 units)

[Guest]

[size=24]Hi Michael,

Good news underwriting has approved your loan Let me know if you have any questions.

Best wishes,


Andrew

Sr. Loan Processor

Hello Andrew

Thank you very much for all your help in approving my application for the refinancing loan. I want to inform you and the bank that since you received the questionnaire from my association, it has come to my attention that some of the information provided to you by them may not be accurate. For instance, the amount listed as the budget is much lower than it really is and the list of multiple owners in not up to date in my opinion. There may be other numbers on there that are not accurate. You know the old saying "lie in one, you lie in all". I would suggest you contact the association again and ask for accurate numbers along with a current list of lawsuits. I appreciate being accepted by the bank but I don't want to be a party to being approved based on false, misleading, or inaccurate information.

I believe this information is provided to Cooper Square by the Accounting department. The head of this department is Ms. Denise Colletti. I believe she reports directly to the president of the Board of Directors, Mr. Slava Lerner, the Vice President Mr. Richard Miller, and the Secretary Ms. Gail Hoffman and the other members of the Board.

I recently read the FBI's definition of mortgage fraud ;

"Mortgage Fraud is defined as the intentional misstatement, misrepresentation, or omission by an applicant or other interested parties, relied on by a lender or underwriter to provide funding for, to purchase, or to insure a mortgage loan"

Please check to see if the information provided is accurate because I do not want to be party to this if in fact the information is not accurate.

Very truly yours,

Michael R. Deluca

[Guest]

wow - and they can't even compile a list of multiple owners - why are about a dozen left off? including 2 directors - miller and lungo?
more than stupid, this is scary. and yes, acctg reports to the board. no wonder we're in the mess we're in.

[Guest]

Did Franco filed his lawsuit prior to December 09?