Cooper Square

Morgan Court is a 40-unit condominium on Madison Avenue at 37^th Street that was showing its age and was saddled with significant sponsor ownership and a transient tenancy.

The unit-owners and the sponsors agreed to renovate and reposition the building. An expedited three-year capital improvement plan was developed with Dan Wurtzel, Cooper Square President. All building systems were upgraded or replaced, the exterior was repaired and the roof replaced. The sponsor renovated many of the unsold units. Staff changes were made.

With the re-positioning of the building from transient to unit-ownership and the extensive work, the value of apartments increased significantly.