PARKLANE TOWERS, INC.
A multi-family co-operative
Those of us who own and reside in the Towers feel we made an excellent decision when we purchased the PARKLANE TOWERS, INC. COMMON STOCK entitling us to move into a specified apartment home on a specific floor.
To own and live in the Towers, one must buy the stock assigned to a specific apartment from the current owner. The price per share will vary, depending on the investment the current owner has made in decorations, built-ins, appointments and how recent this remodeling was completed. The price per share is negotiable between the owner and the buyer.
When you buy into a cooperative multi-family apartment building, you are buying shares in a housing corporation that owns and operates the building. Instead of receiving a deed, the buyer of the corporative stock is given a proprietary contract for a specific apartment. By law, a cooperative apartment is not considered real property, but rather personal property. This is true in most states.
The Towers is a non-profit corporation. There are 72 individual apartment homes located throughout 10 floors.
- Guests announced to you before being admitted by the doorman.
- Property taxes – although each owner deducts a share of the property taxes from personal income taxes.
- Cars parked in the garage will have windows and tires inspected routinely and windows washed if necessary.
- Air conditioning and heating.
- Trash removal from each floor’s “trash closet” three times a day.
- Cable television.
- Mailbox availability around the clock.
- Morning paper delivered to your door each day, if you subscribe.
- Groceries delivered to your apartment.
- UPS and other large packages delivered to your door.
- Laundry facilities.
- Basement storage for each apartment home.
- Fitness center.
There are many other courteous and helpful amenities that will be provided by our employees. There is a NO TIPPING policy at Parklane Towers. We do have a voluntary Christmas Fund for the employees that gives each resident a chance to thank them for their outstanding service.
It’s a well-known fact among our Parklane homeowners, if your lifestyle demands privacy or travel, near or far, Parklane is the place to live. You, your home and possessions will have the serenity and security worth the investment.