L E H A V R E
N E W S
3
N O V E M B E R MANAGEMENT
CORNER
BY MARGARET COSTELLO, GENERAL
MANAGER
We are happy to announce two new additions
to the Le Havre staff.
First, we welcome Sandra Smith, who has
replaced Cynthia Mazzei as our receptionist in
the Management Office. We also welcome our
new Clubhouse Manager, John Cunningham,
from URBN Playground.
We look forward to working with both of
them.
PRESIDENT’S REPORT:
BY STANLEY R.
GREENBERG, CPA
Welcome to Autumn at Le Havre!
We will very shortly be coming
into the holiday season and
I hope everyone has a joyous
Thanksgiving, even in the midst
of our Covid-19 pandemic. Between
URBN Playground and our Saige Café,
we hope to present various programs as
you will see listed in the calendar in this issue of the
Le Havre Courier.
Re nancing of Le Havre Owners
Corporation Mortgage:
I am pleased to announce at this point that we have
locked in a new mortgage at the rate of 3.52% with
the National Cooperative Bank (NCB), which reduces
the interest rate down from 5.58%. As I have said
in the past, this is a win-win situation for all shareholders
at Le Havre.
• First is the reduction of the interest rate: We
have been fortunate to be able to take advantage of
the low rates at this point in time.
• Second: We have been able to refinance to
increase our mortgage balance to $53 million, which
was the amount of our original mortgage and, therefore,
securing over $8 million on the refinance.
• Third: We will be able to reserve these additional
funds and, in addition, we will be able to accumulate
reserve funds because of the lower monthly
payments with the new mortgage. These reserve
funds will be used for major capital improvements.
I have projected that, over the period of ten years,
we will have accumulated approximately $22 million.
These funds will provide us with the ability to
do major capital improvements such as elevator modernizations,
replacement of roofs, upgrading of the
facades and, possibly, resurfacing of the parking lots.
By utilizing these reserve funds, we hope to forestall
any major assessments to the shareholders.
As everyone is aware by now, as of the November
1st billing, we have removed the elevator assessment
in conjunction with the refinancing of our
mortgage.
Financial summary:
The 3-month ending September 30, 2020
(budgeted versus actual) showed total
revenues of $4,488,196 (23%) of the
budgeted amount of $19,168,137 and
total expenses of $4,337,051 (23%) of
the budgeted amount of $19,168,137,
as reported by our accountants. The
variances were due to higher pool
expenses as a result of opening the pool
and third-party elevator inspection expenses.
Solar Panels:
As of the end of October, we signed an agreement
with a company called Nexamp to utilize 1,613 solar
panels which will reduce our electricity costs in the
common areas by 10%. Nexamp works in conjunction
with Con Ed and there are no costs or fees to
Le Havre. This unique situation allows us to utilize
solar panels without having the cost of installing
solar panels on our property and results in savings to
Le Havre. We are told that in the future this type of
solar arrangement might be available to individual
apartments but probably not for some time to come.
Intercom Upgrades:
As of this writing, we have installed visual intercoms
in five buildings. It is projected that the entire
project will be completed by the end of February,
2021. So far, the feedback from the completed buildings
has been very positive and we look forward to
more of the same as the project continues.
CCTV Cameras:
We recently signed a contract with Total Security
Integrated Systems for the installation of 163 cameras
throughout the Le Havre complex. We will
be installing these cameras around the property in
order to enhance security and for the safety of the
residents. These cameras will be able to observe the
parking lot areas, interior and exterior of the lobbies,
playgrounds, pools etc. Obviously, the reason for this
is to deter any vandalism and to enhance security
around Le Havre.
Thank you as always for your continued support
and Happy Holidays to all residents.
The Welcome Wagon
The Le Havre Board of Directors and
management would like to welcome
new shareholders to the community.
Below are our most recent new residents.
We hope that all of you settle
in comfortably, get to know your new
neighbors and enjoy living here at Le
Havre!
Fabricio Vidal
Archeet Shah
May Lam
David & Felicia Gordon
Tara Fennelly
PUBLISHER & EDITOR Victoria Schneps-Yunis
ASSOCIATE PUBLISHER Joshua A. Schneps
EDITOR IN CHIEF Jill Davis
WWW.QNS.COM | NOVEMBER 2020 | LEHAVRE COURIER 3
LeHavre Courier, 38-15 Bell Blvd.
Bayside, NY 11361
718-224-5863 • Fax 718-224-5441 Sales fax: 718-631-3498
e-mail: editorial@qns.com
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