Category: HUD

Renovation News!

Hello everyone. We’re back online with our renovation blog because we finally have something to report!

HUD approved the owner’s application to renovate the property with new HUD FHA financing, and we are now able to provide specific answers to your questions.

This also means that you can resume going to for updated renovation and temporary relocation information in written and audio formats; as well as receive email and SMS notifications of postings and comments from, both the owner, and your fellow residents.

Our hope is to close the loan with HUD in October, 2013. The agreement with HUD does allow us to postpone the closing to, either November, or December, 2013, BUT we would incur a severe financial penalty if we did postpone the closing beyond those months.

The plan right now is to begin work on the first floor and basement in January, 2014 with the laundry room remaining open for your use. The apartments will not begin renovation until April or May, 2014 because we have to order the new window systems which will also include the new air conditioning and heating system. At this point in time, we intend to renovate two floors at one time starting with the 12th and 11th floors.

Again, apartment work will not start, most likely, until April or May of 2014!

The owner will schedule a meeting with all residents sometime during the first two weeks of October. In the meantime, if you have any questions please do not hesitate to post a comment below.

While this will be a road filled with many details, we will do everything within our power to make the trip as easy and comfortable as possible.

We are confident that you will be very pleased with the transition to a new Selis Manor.

Thank you for your patience and understanding.

Standard HUD Pre-payment Notice Posted

A pre-payment notice has been distributed to tenants and posted in the building. This is one of the standard notices HUD requires the owner to execute in the refinance process, and does not affect the residents’ rent level or occupancy status. Please contact Tony Savarese with any questions. Thank you.

Written by Comments Off on Standard HUD Pre-payment Notice Posted Posted in HUD, Renovation

Notice to Tenants of Intention to Submit HUD Rent Increase Request

A notice of rent increase was posted last week in the building.  Please note that the notice is required by HUD and represents the additional rental subsidy HUD will pay to the property to complete the work specified in the application.  Residents will continue to pay only 30% of their income as rent.

Please also note that this rent increase will not go into effect until the completion of the renovation work and final closing with HUD (sometime towards the middle or end of 2015).

If you have any questions on this notice or HUD procedure, please call Tony Savarese  directly at 914-772-2728.

Thank you.

Written by Comments Off on Notice to Tenants of Intention to Submit HUD Rent Increase Request Posted in HUD, Renovation