Anyone familiar with the Silver Beach and Edgewater Park co-op communities in the Throggs Neck area? (mortgage)

[Marcus Crassus]

What are they like, and just how complicated is the home purchase procedure, given that they are co-ops?

[LizfromtheBronx]

I lived nearby most of my life, and spent my teen years misbehaving in both places, so I know them well.

I could expound on these communities a whole lot more. But let me start by saying this...(and disclaimer, this is not my opinion on how it should be, it just is the way it is, and likely will not change anytime soon).

If you are not white, keep looking. These are very insulated (read: racist) communities that will block anyone who isn't white from buying. Since you need references from several board members to be approved for either, it's easy to do. Been hearing stories for years on it.

With that said, I have numerous friends who are shareholders in both. Silver Beach is far nicer.

[mrmondaynight]

Came to say the same thing

If you aren't white, don't bother.

[Marcus Crassus]

Thanks for the responses. I'm surprised that Throgg's Neck is so remote that I've only gotten two replies to this thread.

[LizfromtheBronx]

Well, not only is Throggs Neck a little remote (it may as well be the suburbs in terms of public transportation), but you're also asking about 2 sub-sections of the neighborhood.

Happy to answer any questions you have about the area, though.

[charmed hour]

I grew up in TN (and hung out with Liz in said communities lol). Most of my mom's family lives in Edgewater, both my parents grew up there. While there's not much diversity, there is some- especially since they're being sued for discriminatory practices. (As was Silver Beach but they settled.) IMO, Edgewater is more diverse than SB.

Re: Getting passed the Board. The rules are relatively stringent. You no longer need recommendations from the shareholders (it was defeatist for those with no ties to EPOC) but will need to provide references from your employer along with friends/family. You will need to provide a $hit load of financial information to them (most of which is really none of their business, imo). They also only deal with 2 banks for mortgages- Citibank and Amalgamated. And there are only 2 realtors allowed to do business within the park as well.

[edubz]

Originally Posted by Marcus Crassus

Thanks for the responses. I'm surprised that Throgg's Neck is so remote that I've only gotten two replies to this thread.

a few weeks ago there was a 10+ page thread on the fall of throggs neck.

[LizfromtheBronx]

Originally Posted by charmed hour

I grew up in TN (and hung out with Liz in said communities lol). Most of my mom's family lives in Edgewater, both my parents grew up there. While there's not much diversity, there is some- especially since they're being sued for discriminatory practices. (As was Silver Beach but they settled.) IMO, Edgewater is more diverse than SB.

Re: Getting passed the Board. The rules are relatively stringent. You no longer need recommendations from the shareholders (it was defeatist for those with no ties to EPOC) but will need to provide references from your employer along with friends/family. You will need to provide a $hit load of financial information to them (most of which is really none of their business, imo). They also only deal with 2 banks for mortgages- Citibank and Amalgamated. And there are only 2 realtors allowed to do business within the park as well.

Hiya!!!

Wow, didn't know that update. That could definitely help. If you can get approved by the board, I'm still not sure that either is a community you might feel comfortable in as anything other than white, but that would be up to you. Hell, I'm white, and as a non-racist, feel very uncomfortable hanging out with some of my friends from back in the day (all of whom live in Edgewater).

That said, the prices are cheap for Edgewater. Silver Beach is more expensive. Both are co-op communities, so on top of your mortgage, you also pay maintenance (I know EP's is around $350 a month). Houses and lots are quite small - usually all that separates you from a neighbor is an alley. Many houses are 2 bedrooms. If you know TN at all, you'll be aware of the limited public transportation.

Any questions, just post, and we'll get 'em answered

[charmed hour]

Originally Posted by LizfromtheBronx

Hiya!!!

Wow, didn't know that update. That could definitely help. If you can get approved by the board, I'm still not sure that either is a community you might feel comfortable in as anything other than white, but that would be up to you. Hell, I'm white, and as a non-racist, feel very uncomfortable hanging out with some of my friends from back in the day (all of whom live in Edgewater).
Hey Chickie!
That said, the prices are cheap for Edgewater. Silver Beach is more expensive. Both are co-op communities, so on top of your mortgage, you also pay maintenance (I know EP's is around $350 a month). Houses and lots are quite small - usually all that separates you from a neighbor is an alley. Many houses are 2 bedrooms. If you know TN at all, you'll be aware of the limited public transportation.

Any questions, just post, and we'll get 'em answered

I agree, I'm sorta part time in Edgewater - crashing at my parents ' for part of the work week. There's definitely still some shockingly racist attitudes. And they don't attempt to hide it. However I think it's far far better than it was even 15-20 years ago.

Prices are really affordable. I think my parents paid 69k 2 years ago. However, there put about that in renovations. Some needed and others purely choice. Still a bargain. Taxes and maintenance are based on how many shares you hold. My parents pay around $325 a month. Factor in their 15 year mortgage and it's cheaper than the apt they rented for 36 years. Granted, the house is only 700 square feet. But it's just them and me in the closet aka 2nd bedroom a couple nights a week.