What is a Cooperative Living?

With all the living options available for seniors, cooperative living may be the best thing for your lifestyle. What is coop living? The idea behind cooperative living started over 180 years ago. The objective was to create and foster common interest communities. We do that be jointly owning a common property area with other individuals. When you purchase a share into the coop, you own your respective residence within the property. Plus, you own a joint share of the common areas of the property.

There are two financial investments to being a part of Gramercy Park of Rochester. The first is a one-time membership fee that guarantees you opportunity to participate in the direction of the cooperative. With that membership fee you don’t pay “market price” for your residence, but “member price” which saves you a great deal financially. The second investment is the monthly membership fee that covers things such as the mortgage, real estate taxes, operating expenses, and provides the expansive list of additional amenities.

Typically as real estate grows, your equity in the coop grows, too. Plus we adhere to a democratic model that everyone in the coop has a voice.

If you think coop living is right for you, give us a call! We would love to get you on our waiting list so that when you are ready to make the move to our coop, it will be there for you.