Vernon Woods Cooperative in Mount Vernon (Lincoln: apartments, renting, countertops)

[mmadler]

Was hoping someone had some info on this complex. The prices are EXTREMELY low for Westchester, however, the maintenence fees seem a bit on the high side. Anyone have any insight as to why this would be? I visited the complex and the grounds/building were all kept in great shape and they do have a large workout facility and tennis, but there is a one-bedroom available for less that $75,000, 1000 Sq. but the maintenence is an astounding $1,400 per month.

Any info on this complex would be appreciated.

Thanks!

[7 Wishes]

I'm sorry no one answered this but I live a few blocks from this complex and just stumbled on this thread now (I joined these forums in April).

Basically, what I know is the building has major financial issues and in order to fill apartments they price low but "maintain" high. It is not a bad building in and of itself and the amenities are nice, but I would stay away for that reason (the financial problems).

You would be better off at one of the 3 complexes further up Lincoln Avenue, Esplanade Gardens (average building, relatively low maintenance fee, but very "liberal" coop board for getting accepted), Vernon Manor (inexpensive to buy, but pickier board and (albeit relatively easy) minimum income requirements) or Park Lane (a lot more upscale).

[SpareTime]

"7 Wishes" I strongly disagree. The reason the prices are low are for a couple reasons.

1) space/storage, or lack there of. But they are building storage lockers
2) Mount Vernon school district is one of the worst in the country.
3) Renting is cost prohibitive, as they charge a $100 monthly fee so it's not really an option.

Yes maintenance is a little high but NONE of those complexes you listed have a fully equipped gym, 2 racquetball courts, 3 tennis courts, FREE parking, guest parking, a parking garage, FREE shuttle to Metro North, gated 24-hour security, a basketball court, and a BBQ area.

The finances are in great shape and you can ask for the yearly report and see for yourself. It's over 90% owner occupied.

"mmadler" I know the 1 BR you refer to and it has a huge bathroom with a separate jacuzzi, top of the line remodeled kitchen with granite countertops, a private entrance set in the back, and a huge bedroom. More than enough room for 2 people. And it is high maintenance but other 1 BR's are in the $650 - $800 range and with the STAR credit, it comes down about $100+ a month....

[7 Wishes]

Originally Posted by SpareTime

"7 Wishes" I strongly disagree. The reason the prices are low are for a couple reasons.

1) space/storage, or lack there of. But they are building storage lockers
2) Mount Vernon school district is one of the worst in the country.
3) Renting is cost prohibitive, as they charge a $100 monthly fee so it's not really an option.

Yes maintenance is a little high but NONE of those complexes you listed have a fully equipped gym, 2 racquetball courts, 3 tennis courts, FREE parking, guest parking, a parking garage, FREE shuttle to Metro North, gated 24-hour security, a basketball court, and a BBQ area.

The finances are in great shape and you can ask for the yearly report and see for yourself. It's over 90% owner occupied.

"mmadler" I know the 1 BR you refer to and it has a huge bathroom with a separate jacuzzi, top of the line remodeled kitchen with granite countertops, a private entrance set in the back, and a huge bedroom. More than enough room for 2 people. And it is high maintenance but other 1 BR's are in the $650 - $800 range and with the STAR credit, it comes down about $100+ a month....

I accept some of your "correction" but disagree on others. If it was simply cause of the school district (more on that later), than why do complexes in Fleetwood neighborhood of Mt. Vernon with far less amenities go for much more money?

Mt. Vernon is one of the worst school districts in the county, but hardly the whole country as you mention. I'd even consider many parts of the 5 boros itself to be much worse. It does bring the price down, but it's not the only reason, it would be much more with the gym, jacuzzi and everything if the schools were all there was to it.