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Coop (Co-op) Buildings in Jackson HeightsEdit
From it's earliest days, the Jackson Heights neighborhood has had cooperatively owned apartment buildings, referred to variously as cooperatives, COOPS, coops, or co-ops.
A housing cooperative, or co-op, is a legal entity, usually a cooperative or a corporation, which owns real estate, consisting of one or more residential buildings. It is one type of housing tenure. Housing cooperatives are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums, and renting.
The corporation is membership-based, with membership granted by way of a share purchase in the cooperative. Each shareholder in the legal entity is granted the right to occupy one housing unit.
A primary advantage of the housing cooperative is the pooling of the members’ resources so that their buying power is leveraged, thus lowering the cost per member in all the services and products associated with home ownership.
List of Coop Buildings in Jackson HeightsEdit
The following link to coops in Jackson Heights. (When adding to this co-op section, consider using Montclair Gardens as a guide.)
Resources for Co-op BuildingsEdit
- For more on co-op housing see this Wikipedia page.