Thank you.
Much has been said about the condition of apartment 12E at 550 Park Avenue. It has also been said that $2.6 million needed to be invested to renovate it. From what I understand, that was just the beginning.
I am the happy owner of a more than century-old house, and I can tell you, once you start on renovations, there are strangely a lot more that become necessary.
We have heard about problems with the hot water. Was the central heating system hot water? Was this one of the items that was causing a problem?
There was also talk about the electrical system. Was there a danger of fire?
Was water leaking in this apartment, were there problems with the flooring?
Exactly what were the problems?