News and Notices

Shareholder's Meeting Rescheduling, September 17, 2008

To the Shareholders of 200 East 16th Street Housing Corporation

Due to a scheduling conflict with the Jewish Holiday Yom Kippur, the 2008 Annual Meeting of the Shareholders of 200 East 16th Street Housing Corporation, has been rescheduled and will not be held on Wednesday, October 8, 2008. Please disregard the Notice of Meeting dated September 8, 2008.

The meeting, instead will be held on Wednesday, November 5 2008 at 6:30 p.m. at the Friends Meeting House, 15 Rutherford Place, New York, NY. A formal notice will be sent to all shareholders next month.

Ellen Kornfeld, Secretary
200 East 16th Street Housing Corporation.

Guest Policy, July 29, 2008

Please be advised that no shareholder or tenant is permitted to have guests reside in their apartment for more than thirty days in any given year if they are not in the apartment with them. Permission must be granted by the The Lovett Company, LLC or its agents in writing in order for you to permit the guest to enter the apartment. A picture identification must be presented to you before you can let them in and the picture identification must match the name on the guest form.

Please be further reminded that no lobby attendant is permitted to approve the “Guest Form”. Approval to permit you to allow the guest to enter the apartment must be in writing and must contain both the Superintendent’s and the Managing Agent’s signatures. No other signature will be allowed.

Furthermore, if you are requested to provide keys to the guest, you must require that the keys be placed in a sealed envelope with the name of the guest(s). The guest must sign the book indicating receipt of the key(s). If keys are not placed in a sealed pouch or envelope, you are not to accept them from the resident and/or shareholder.

These instructions are imperative in order to prevent abuse of the guest policy.

Key Policy, July 29, 2008

It has come to our attention that many residents are verbally requesting the concierge give apartment keys from the locked key box to those individuals that may require access either daily or weekly to your home. In order to prevent keys from getting lost or misplaced, a new key policy is being instituted.

Effective immediately, staff members are no longer permitted to give apartment keys to friends, relatives, housekeepers, babysitters, nannies, dog walkers, cat sitters, aides, and other individuals that might require access on a regular basis. Please make arrangements to provide a set of your keys to these individuals. This procedure will prevent keys from being misplaced or lost. We must point out that the purpose of the key box is to enable the Superintendent and/or Handyman to enter your apartment in the event an emergency occurs and you are not at home.

If you want the concierge to give out your key, you must provide an extra set of keys in a sealed envelope with the name of the person picking them up. It is for the protection and security of all residents that we must insist you leave written instructions whenever you want your key given to a visitor. The key(s) must be placed in a sealed envelope with the name of the person clearly indicated and apartment number identified.

If you lock yourself out of your apartment, you can still request the concierge open the key box to provide you with your keys in order to gain access. This will be treated as an emergency. However, please return the keys immediately to the concierge so they can be put back in the key box.

We appreciate the cooperation of all residents in following the above policy.

Bulk Garbage, May 28, 2008

Please be advised that each resident is responsible for the disposal of their bulk garbage.

Any large items including furniture, old appliances, etc. must be removed from your apartment and discarded by your own carting company. These items are not to be left in the stairwells, basement, or any other common area of the building.

Any resident found disposing of bulk garbage improperly will be subject to fines imposed on their maintenance account.

Your cooperation is appreciated and expected.

Air Conditioner Brackets, May 20, 2008

Since the summer season is upon us, we wish to remind you that all air conditioners must be supported with brackets or internally fastened braces, as per New York City Law.

If your air conditioners are not secured by the aforementioned methods, we request that you please contact an air conditioner professional to have your air conditioner properly installed in accordance with NYC Building Codes. There are several companies listed in the Yellow Pages that offer this service, and you are welcome to hire whom you wish. One such contractor that we have utilized in the past is Weston Brothers, Inc. If you choose to use them, their contact number is (718) 793-2000, however you are under no obligation to use this particular contractor.

An inspection will be conducted by the undersigned and Superintendent to ensure all residents are in compliance NO LATER THAN JUNE 15, 2008. Please note that if your air conditioners do not comply with NYC Law by this date, you may be subjected to administrative charges every month until the violation is corrected. In addition, if the building receives fines due to non-compliance of residents, such fines may be passed along to the violators.

If you purchase new air conditioners after June 15th, please make sure the installer is familiar with NYC Law regarding proper installation of the units.

We appreciate your anticipated cooperation.

Letter from the President, December 2007

Dear Shareholders,

I’d like to start by thanking those of you who attended the Annual Meeting in October. The meeting included the presentation of the annual financial statement, the president’s report, the election of the Board of Directors, and a Q&A session. The election of Board members was uncontested, and resulted in the same individuals: Patti Devine, John Grant, Giulio Mazzarelli, Avo Samuelian, and myself.

As this year draws to a close, I want to take a moment to highlight the capital improvement goals we accomplished last year. Early in 2007, we successfully completed the periodic façade inspection and maintenance required by New York City Local Law 11. We also conducted a thorough renovation of our hallways complete with a new color palette, new light fixtures, new signage and a series of beautiful photographs generously donated by Mr. Matsumoto (#20B) that currently hang in each floor of our building.

On the exterior, we started off the year by securing the retail vendors we were looking to acquire and renewing existing contracts for the next 10 years. The storefronts also went through a significant renovation to unify the Third Avenue and 16th Street façades with a stepped granite base and Indiana limestone slabs. New light fixtures and roll-down gates were installed as well as a new, cohesive awning system. The same treatment was later implemented for the entrance of the building and a new entrance awning canvas replaced the old one. Lastly, we repaved our damaged sidewalks and are in the process of putting the finishing touches on the tree guards. We are also happy to report that the catch basin in the corner of Third Avenue & 16th Street is scheduled to be re-opened next year by the Department of Design & Construction.

With all of this work completed and paid for, I urge you to read the Treasurer’s Report article by John Grant, which highlights the good standing of our current financial situation.

In this holiday issue of the Quarterly, we launch a new neighborhood coat drive initiative to benefit the patients of Beth Israel that is spearheaded by Jennifer Collins (#12G). Also in this issue, we feature Sally Spa as part of a series of “retail profiles” in an effort to help generate more business and awareness for our retail partners. As you may have noticed, competition is fierce in the neighborhood, and we must support our stores, because the better they do, the better we do as a co-op.

Looking forward to next year, we anticipate the roof replacement work to be completed in early January, weather permitting, and have begun discussions to beautify the courtyard in the back of the building and to renovate our lobby to improve storage, safety and traffic flow

As always, I want to express my appreciation for the valuable contributions of our shareholders (too many to include in this letter), our great staff and our partners at Lovett over the past year.

Best wishes to you and your families for a safe holiday season and prosperous new year.

Sincerely,

Rafael Weil

Treasurer’s Report by John Grant

Dear Shareholders,

As we approach the end of 2007, we will finish the year in solid financial shape. We will have about $2 million in cash reserves and should finish the year with a $200,000 budget surplus.

The budget surplus is due primarily to the revenue generated by the flip tax from apartment sales. The rising prices for apartments and the number of apartments sold this year exceeded our budget plan, leading to this favorable position.

The other good news is that all the retail spaces have been filled, and those tenants are providing a substantial monthly income that we didn’t have for much of last year. Given our strong financial position, the Board does not anticipate a maintenance increase at this time. However, there are several factors that could adversely affect our budget for 2008 and affect this decision.

• One is the rapidly rising price of fuel, which has already increased our heating costs substantially.

• The second is real estate taxes, which will be re-assessed by the city sometime in early 2008.

• The third is the real estate market slowdown. If prices and/or the number of sales drop substantially, that will affect our flip tax revenue in 2008.

The Board is monitoring these and other financial issues with management in determining our budget for 2008. As always, the Board and management will be looking to maintain the financial health of our co-op, while continuing to improve and successfully manage the day-to-day operation of the building.

Holiday Tips

Holiday Tipping for Staff: Every year around this time, residents start asking the Board of Directors and each other about it, and etiquette experts turn out charts indicating the appropriate tip for those whose services we couldn’t do without.

How much to give is a personal decision based on your own budget and experience with the service, but remember that we do live in a full-service building and we value all our employees. The following are useful links regarding tipping:

*Emily Post Holiday Tipping Guide
*The Original Tipping Page *CNN Money - Holiday Tipping
*MSN Money Central - The fine art of holiday tipping
*Bankrate.com - Tips for holiday tipping

Holiday Parties: If you plan to host a large holiday party or gathering, kindly alert the door staff in advance and consider providing a guest list for use at the front desk to facilitate the entry of your guests when they arrive at the building. In holding any such event, please be considerate of your neighbors.

Use of Holiday Lights and Candles: Please ensure that when using holiday lights the extension cord is not frayed and that lighted candles are always maintained at a safe distance from any drafts or flammable materials. In addition, please ensure that lights (especially those on your Christmas tree) and candles are always unplugged or extinguished whenever you leave the apartment or go to sleep.

Hallway Decorations: As you prepare for the holidays, some residents are tempted to decorate the area outside their apartments. We want to remind you not to place any holiday decorations in the common hallways. These include, but are not limited to, wreaths, trimmings, lights, candles, menorahs, signage, holiday cards and statues. The common hallways have recently been renovated and they must remain free of personal decorations pertaining to the holiday season. Additionally, floor mats are not permitted outside your apartment door. They are considered a fire code violation and could cause a tripping hazard in the event of an evacuation.

We hope this information is useful, and we wish you all a happy and safe holiday season.

200 East Neighborhood Coat Drive

		During the month of December, our building will be conducting a coat drive to help patients in need at Beth Israel Medical Center. Kindly bring any coats you wish to donate to the lobby and a staff member will set them aside for distribution to the disadvantaged men, women and children at Beth Israel. The last day to donate will be December 31st. Help us make a difference!