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Is anyone familiar with this complex and the area it is located in. If so, would you please describe what you can about the following.
(1) what the place and the neighborhood is like?
(2) how is parking in and around the complex?
(3) why do they seem relatively cheap compared to the other comparable co-ops in the Mamaroneck district?
If you would like to PM me with the info, that would be great also.
Location: San Fernando Valley, CA but desperately hoping to move back to New York
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I know it's a little late but I just came along this post. I can tell you a bit about it as my aunt has lived there for years and we have of friends who live there.
It has def improved over the years. The landscaping is nice and there have always been lots of families there. They have a new playground that is nice. Convenient location to schools and around town too.
A nice perk is that they have laundry on complex but also give you the option to have units inside the apt, for an addl fee. Everything in a co-op is an additional fee.
There is also a rec room that can be rented to have parties in
The interior of the lobby areas are still a bit dingy and you can smell the aromas from other tenants apts. But you'd get that in any apt living.
The size of the units are decent. In the models i've been in, the kitchens are on the small side. My aunt has 2 good sized bedrooms and only 1 bath. One of our friends lives in a 3 bedroom and one is really small. She has 1.5 baths. I think 3 bed is the largest size they have.
Parking isn't great, you have spots in the circle and around the complex or you have to park on the streets around HHS complex. If you're not home early, you will def be parking on the street and depending on where you park, you could have a little trek to your apt. There is a garage but it has a wait list, not sure how long.
Also, the metro north station is close by and the tracks run behind the complex so you do hear the train quite frequently. My aunts apt faced the tracks but the noise never bothered me.
I can't answer your 3rd question but I can say that I don't like co-ops in general. If you sell, you have to pay a percentage back to the management, not sure how it works or how much.
All in all, I have fond memories of going there, was just visiting in august. If we move east, I would consider living there, even though I hate co-ops.
I can't answer your 3rd question but I can say that I don't like co-ops in general. If you sell, you have to pay a percentage back to the management, not sure how it works or how much.
First, everything is NOT additional in a co-op. Many buildings don't even permit people to have washers in the units because they pose a HUGE flooding risk.
Second, the 'percentage paid to the management' is called a flip tax and we're used to that in NY. It helps keep the maintenance low.
Third, you might not be aware of this, but when a condominium owner is foreclosed or loses his apartment, the money from its sale goes to his creditors. When this happens in a co-op (which is rare because financials are reviewed prior to the sale), the proceeds go to the CO-OP - not the shareholder's creditors. So in this economic environment, co-ops have more stability than condominiums.
Fourth, having review of all the prospective tenants is something that co-op shareholders LIKE. It limits the potential for a fellow shareholder subletting to people who, for example, like to play their music at full blast at midnight.
Location: San Fernando Valley, CA but desperately hoping to move back to New York
74 posts, read 350,053 times
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Thanks for the info, viralmd.
my mom lives in A co-op and I should know more about them because of it. In her bldg, they do charge her for everything. Having a dishwasher, each air conditioner,parking spots, and they keep increasing everyones maintenance because of work that is done,
maybe it's just poor manangement.
I am ok with approving who lives there but my moms complex will not allow subletting or a family member to take over the unit if the owner passes away.
I am sure that condos and co-ops have their fair share of issues, we don't have too many co-ops where I live. If I ever have to live in either, I would research more in advance.
my mom lives in A co-op and I should know more about them because of it. In her bldg, they do charge her for everything. Having a dishwasher, each air conditioner,parking spots, and they keep increasing everyones maintenance because of work that is done,
maybe it's just poor manangement.
I am ok with approving who lives there but my moms complex will not allow subletting or a family member to take over the unit if the owner passes away.
I am sure that condos and co-ops have their fair share of issues, we don't have too many co-ops where I live. If I ever have to live in either, I would research more in advance.
Just so you're aware, the law under which co-ops are maintained doesn't permit passing the unit to heirs unless they apply and submit financials and go through the board approval process.
Location: San Fernando Valley, CA but desperately hoping to move back to New York
74 posts, read 350,053 times
Reputation: 20
Thanks again! I'll keep that in mind should that situation arrive.
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