A senior cooperative with 337 units and 337 ownership shares. Potential residents must meet financial and independent living criteria set by the board of directors, which is made up of nine elected member-owners.
New residents buy a share costing about $34,000 to $74,000, depending on the size of their unit. They also have such monthly charges as mortgage costs, taxes, insurance, utilities and operation costs.
When members sell their share, the value of that share, plus any additional equity that has built up, is returned to the member or the member's estate.
Residents and the board govern the building. Ebenezer Management Services manages the property.
MARY JANE SMETANKA
About 7500 York
November 17, 2008 at 5:50AM
about the writer
It’s too soon to tell how much the immigration crackdown is to blame.
