Page 22 - NJ Cooperator Fall 2020

With locations in Northern and Central NJ Visit us on the web at www.WilkinGrp.com | 201.560.0900 Wilkin Management Group, Inc. 30 Years of History Wilkin Management Group, Inc.ilkin Management Group, Inc. Visit us on the web at www.WilkinGrp.com | 201.560.0900 W For over 30 years, Wilkin Management Group has held to an unshakeable corporate philosophy of Creating Value for Our Clients. Our People, Process and Performance demonstrates an un-wavering commitment to do so. Insurance and Risk Management Solutions for Community Associations ©2020 USI Insurance Services. All Rights Reserved. Employee Benefits | Property & Casualty | Personal Risk | Retirement Consulting At USI, our real estate specialists combine proprietary analytics, broad experience and national resources to custom-fit an insurance and risk management plan that meets your needs. For decades, our team has been providing the solutions and services that associations count on to protect their communities. We’d like to do the same for you. USI Insurance Services Cheryl Rhine, CIC, CIRMS Debbie Pasquariello, CIC, CIRMS Toms River, NJ | 732.349.2100 Florham Park, NJ | 800.227.0185 www.usi.com We’ve Got Your Community Covered REACH FOR THE STARS WE MANAGE OUR CUSTOMERS ABOVE & BEYOND At Executive Property Management, we are light years ahead in our profession. For more than thirty years, we have successfully focused on providing our customers with unrivaled value in areas of financial consulting and reporting, customer service, cost control, technology and integrity. Let us guide you to a brighter tomorrow. 22 THE NEW JERSEY COOPERATOR —FALL 2020 NJCOOPERATOR.COM and now serving more than 240 community associations and commercial properties in New Jersey and Pennsylvania. Law & LeGisLation Montclair Condo Wins Legal Fight to Fix Leaky Roof Northjersey.com reports that the Siena condominium—a relatively new luxury property on Church and South Park Street in Montclair—has resolved a lawsuit against its developer for construction defects that have resulted in a decade of leaks for about 20% of its 101 units. Last fall, the Siena condo board settled the litigation against developer Brian Stolar and his company, Herod Development. As part of the settlement agreement, Stolar was obligated to install a new roof, waterproof the affected balconies, and resurface the outdoor parking lot, which leaks groundwa- ter into the underground lot below, accord- ing to northjersey.com. Installation of three sections of the “Mercedes-Benz of roofs,” according to Siena president Ken Mesnik, began in August. The project, along with the resur- facing of the terraces and parking lot, will take a year to complete. “We are in the first phase of getting the water prob- lems resolved,” says Mesnik, “so residents can have an enjoyable life in downtown Montclair without the headache of worry- ing if it is going to rain.” Mesnik tells northjersey.com that a separate lawsuit against the window man- ufacturer is currently on hold due to the COVID-related court slowdown. Stolar, who has renamed his company Pinnacle Properties, says he is “pleased to have settled the outstanding issues and \\\[has\\\] complete confidence in the board’s ability to use the settlement to address them and restore the Siena to its status as the fin- est luxury condominium in our area.” The litigation has not hindered Pinnacle’s new projects in the area—the Valley & Bloom apartments and the MC Hotel; the Seymour Street arts district cur- rently under construction; and the MC Residences and Lackawanna Plaza, both of which have been approved by the Planning Board—that in total will bring about 759 new rental apartments, 159 hotel rooms, and more than 250,000 square feet of com- mercial space onto the Bloomfield Avenue corridor, according to northjersey.com. Another member of the Siena condo board, John Kane, says, “It was always dis- appointing to me how the township priori- tized their relationship with Pinnacle over the residents of the Siena. They could have held up his other projects as leverage to fix the problems here.” Kane contends that Stolar, “a master of delay,” could have been quicker to resolve the long-standing water infiltration issues suffered by Siena owners. “Time was on his side,” Kane says. “The longer the delay, the PULSE continued from page 4