Linden Hill No 2 Company-Op Corporation

This is well run Co-​op in a nice safer location of Flushing, Queens.
It’s a three block walk to PS 21 Elementary School, or 185 Junior High School.
It’s a 12 block walk to Flushing High School.
It’s a 1 – 2 block walk to two shopping centers that have grocery stores and restaurants and drug and hardware stores, etc.
It’s a ½ block walk to the Express Bus stop that takes you into Manhattan.
It’s a ½ block walk to City Buses that take you to Flushing Main Street for the MTA #7 Train into Manhattan.
There are sitting areas and as well as a playground for tenant use.
The Buildings in this Co-​op were constructed in the 1950’s utilizing funding from the Government to encourage building for families after World War II. Only a few of the original tenants remain. The current age of residents is from 0 to 99.
The Co-​ops, originally a mix of Irish, Jewish & Italian, are now more than 50% Chinese and Korean, with the remainder Irish, Jewish, Italian & some Latin. One of the two closest shopping centers to this location is 100% Asian businesses. The neighborhoods stretching from the South of the Co-​op are predominately Asian.
The Co-​op Board of Directors over the past 10 years has been very aggressive about maintaining a cash surplus on the books, as well making capitol improvements by taxing the residents with annual assessments based on the amount of unit size/​and stock ownership shares.
One of the most valuable recent improvements was the replacement of all the elevators via a three year assessment. It is expected that assessments will continue into the future as more improvements are required to meet code or replace aging facilities. Much of the internals, such as plumbing and electrical lines unless replaced as needed, are from the 1950’s. None of the apartments were built with modern day sound-​proofing so you can hear neighbors walking above you – flushing the toilet, etc.
The Co-​op has their own modern gym. (Separate fee required to use.)
There is no pool at this property.
For fire safety, there are fire escapes for all units above the 1^st floor and units have to be equipped with smoke detectors. There were no sprinklers build into any of the units.
Monthly Maintenance can be high based on the size of the apartment but is all inclusive. Cost of Electricity, Heat, Water, Garbage, General Emergency Maintenance (Stuffed Toilet, Pipes) are included in the Monthly Maintenance. Exception is Air Conditioning – Tenants are assessed annually for the number of AC units that they have in their windows to cover the cost of this electric. Maintenance is billed and payed monthly.
There are no laundry machines in any units. The Co-​op provides a card pay as you go laundry room on the 1^st Floor of every building with modern machines.
Free parking is available on the street subject to alternate size restrictions so you must move your car regularly. The Co-​op for the past many years has had a 3 – 5 year waiting list for parking in an assigned space for a monthly fee. They also have indoor parking for a higher fee.
Maintenance staff is held to a regular cleaning schedule that keeps the building looking good, however they look to supplement their income by charging for personal in unit favors and work when off-​duty. During snow days, the staff clears snow from walkways immediately. They employ an outside contractor to clear the driveways.
Overall, this Co-​op is a good value, especially the smaller apartments for those that do not need or cannot afford to live in Manhattan or want to be midway between Manhattan and Long Island and Westchester. The cost of an apartment here can be ¼ the cost of the same in Manhattan.
Co-​operators are welcome to fix up their apartments, and some have done a tremendous job doing so. Some upgrades requires approval of the Board.
Prospective tenants should be aware as in all older buildings in NYC, that you can expect capital improvement assessments to continue, that the rising cost of electric and services in NYC will result in regular maintenance increases, that water pressure, temperature stability, and sewage line efficiency cannot parallel that in a modern building unless updated.
Also for investors – this Co-​op does not permit subletting – this must be your primary residence. You must pass both a financial and background examination as well as an interview with the Board of Directors. The Board requires minimum Reported income based on the size of each unit. With a down payment, banks will lend of these units to qualifying customers. The Board requires that all residents be photographed so that they can know who is living in each unit.
Buyers and sellers are welcome to employ licensed real estate agents for the sale process. Closings for these units are conducted the same as a house with the buyer and seller represented by their lawyer, Co-​op # 2 has their lawyer, and the bank will have their lawyer present at the offices of the Co-op’s attorney in Queens.