534 West 42nd Street Condominium


Minutes of the Annual Meeting of Unit Owners

November 24, 2025

Call To Order, Kevin Seaman, 6:05pm

Role Call:

Present Electronically via Zoom:
   Jason Trubitt
   Jeff Shah
   Yaneeke Samuels
   Michael Younge
   Praveen Gulati
   Claude Simon
   Alex Hwang
   Kevin Seaman

Absent:
   John Riccardi
   Amit Kaneja

Minutes submitted by Claude Simon
Motion to Waive the reading of the minutes by Jason, second by Jeff, motion carried unanimously.

Claude presented:

1.	Summary of progress on Local Law 11 facade project
   	Told by KNS they would finish the balconies this week
   	Remaining would be brick wall behind Jason's.
   	We could submit and remove sidewalk shed after balconies are done
	Remaining costs; $22,000 KNS, $1-2000
	Discussion:
   	Praveen asked for approximate date of shed removal
   	Claude said roughly beginning of the year.

	Jason and Nikki thought more likely March

2. 	Update on basement lift that we were applying through our engineer to permit the removal of the non working, unused lift.

3. 	Budget does not include capital expenditures (facade project cost, sprinkler upgrade cost)
	Budget not yet adopted but we expect to be raising the common charges by 20% to keep up with costs.
        Proposed budget projects a $23,000 shortfall for 2026.
        
	Discussion:

	Jason asked about whether there might be another assessment on the facade
 	Claude said he did not think so based on the bank balance, income and the remaining costs

	Praveen suggested that we get another quote on the insurance
	Kevin said that our insurance costs are below what he has been seeing but it wouldn't hurt to get another quote

4. 	Claude went over the policy for packages in the building; that residents coming and going through the lobby, if they  had time, should bring 	packages to the basement to avoid package theft.


Jason Presented:

1. 	Virtual doorman new speaker, alarm and process. Virtual doorman monitoring people loitering in the lobby and can now communicate with them, 		and sound an alarm if necessary or even contact NYPD. 	 

Floor opened for New Business by Claude

Praveen requested a storage unit
Claude responded saying the storage units are for residential use only and its in the bylaws and that the 9th storage unit belonged to Unit 8 (himself).

Nikki brought up and suggested that we paint and renew the carpet in the lobby, maybe in the spring or later in the year.
Claude agreed but it had to wait until the facade project was done and we were in better shape financially


Kevin Presented:
 
1. 	A waiver of election to the Board since there were no other parties interested in running


	Claude moved same, Jeff seconded and the motion carried unanimously

2. 	Motion to adjourn by Alex, seconded by Michael, carried unanimously


Meeting adjourned 6:35 pm.


Respectfully Submitted: ___________________________
                        Claude Simon