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OWNERSHIP QUESTIONS
Who owns Gramercy Park Duluth?
Gramercy Park Duluth Cooperative is owned collectively
by its members in residence. Members take an
active role in governance by serving on and electing
Gramercy Park's Board of Directors. The board
provides direction to an excellent management staff.
How much
does it cost to buy at Gramercy Park?
The value of a membership is largely based on the size
of the unit and it's value in the market place, which
historically increases overtime.
How much are monthly fees?
The monthly fees vary according to the size of the unit
and may increase over time.
What do monthly fees cover?
It is important to note all the services covered by the
monthly fee when comparing various condominiums or other
cooperatives. Gramercy Park Duluth's monthly fees
cover: real estate taxes, your portion of the master
mortgage, lender required repair and replacement
reserve, professional management, heat, water, sewer,
trash removal, grounds upkeep, snow removal, recycling,
building maintenance, security and expanded basic cable
television, as well as the Gramercy Information Channel
(14).
Do you have a waiting list?
Yes, Gramercy Park Duluth maintains a waiting list,
which enables prospective members to indicate the type
of unit desired and time they wish to be notified of the
availability of possible selections. To join the
waiting list you must complete an application and submit
it along with an interest-bearing, refundable $500
deposit.
Are there special requirements for membership at
Gramercy Park Duluth?
One member per unit must be at least 55 years old,
capable of Senior living, and able to meet certain
financial criteria.
LIFESTYLE QUESTIONS
What transportation options are available?
Gramercy Park Duluth has it's own transportation van to
planned trips and is convenient to Duluth's Transit
Line.
What are the laundry facilities?
Each unit has its own individual laundry area with a
washer and dryer.
Do you have accommodations for large
gatherings?
Yes! You can reserve the spacious common room
with full kitchen and large deck at no cost.
Do you have accommodations for Guests?
Yes! You can reserve our lovely, smoke-free
guest suite (up to 4 guests) for fee.
What are the parking facilities?
There is one parking space per unit at no cost
in our underground heated parking garage. Extra
spaces can be rented for $52/month. If you choose
not to use your space, you can rent out for income!
What additional expenses do I have?
Only your telephone and electric bill.
What contributes to the cooperatives
security?
It is a combination of our members' vigilance and
awareness, secure entry and our video surveillance
system which allows members to view building entrances
on their own TV.
Do you allow pets?
Yes. Members may have one Dog (under 20lbs) or 2
Cats. Pets must be carried or carted though common
areas. There is a $250 deposit for pet owners.
You may also have a "Visiting Pet", a $250 deposit
applies for this as well.
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