Automatic Direct Payment – Apartment Maintenance

To All Shareholders:

Luna Park’s board of directors and Douglas Elliman PM, working together with the Bank of NY, have agreed to establish an automatic direct payment (ADP) program on behalf of any shareholders interested in taking advantage of it. Shareholders wanting to have their maintenance and ancillary charges taken automatically from their bank accounts each month can enroll in the program for $2/month added to your maintenance. Participation is optional and the charge will only affect those who enroll. Our intention is for this program to pay for itself. If less than 25 units sign up, we will abandon the plan.

Please keep in mind that your bank account will be debited for any and all amounts owing on the day of the transfer i.e. outstanding charges for assessments, late charges, legal fees, sublet fees, repairs, etc. Again, participation is optional.

If you’re interested in enrolling, please fill out and submit the attached form along with a voided check to the Luna Park management office. The attached authorization forms permit Douglas Elliman PM to debit your checking account and credit your co-op maintenance account. This electronic transfer will be done between the 3rd and 6th of each month. If the transaction fails due to insufficient funds in your account, you will be charged $50.00 (similar to a check returned for insufficient funds). If you have any questions regarding this matter, please do not hesitate to contact the management office.

We will notify shareholders within 90 days if the program is to go into effect and when. Until then, please continue to pay as you always have.

You can download the ADP form here and it will also be in the file archive going forward.

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