Knolls Coop Section 2

- 55 Knolls Crescent, Bronx, NY 10463

Knolls Coop Section 2, located in the Spuyten Duyvil neighborhood of the Bronx, is a unique and well-established cooperative community. While it is classified as a "real estate agency" in some contexts due to its role in managing property transactions, it functions primarily as a limited equity cooperative. This distinction is crucial for anyone in the New York City real estate market, as it signifies a different approach to homeownership. Unlike a traditional condominium or co-op where market value is the primary driver of price, a limited equity cooperative focuses on providing affordable, long-term housing for its residents. The model aims to keep prices below the market rate, making homeownership more accessible in an otherwise high-cost city. Knolls Coop Section 2 consists of two red-brick buildings, built in the early 1950s, that are known for their solid construction and serene environment. Nestled on a hilltop, the community offers a village-like atmosphere with a strong sense of community, a quality highly valued by many New Yorkers looking for a place to call home.

The concept of a limited equity cooperative is a significant feature of Knolls Coop Section 2. It means that while residents own shares in the corporation that owns the buildings, the resale price of their apartment is set by the cooperative itself. This model limits the financial gain a seller can make upon moving, with a portion of the sale proceeds going back into the cooperative's capital funds. This mechanism helps to keep the initial purchase prices and ongoing maintenance fees relatively low for all residents. For prospective buyers, particularly those on a fixed income or those looking for a long-term, stable living situation, this can be an appealing alternative to the volatile open market. It offers the benefits of ownership, such as building equity and having a say in the community's management, without the speculative nature of a conventional real estate investment. Living in a limited equity co-op like Knolls Coop Section 2 is often more about finding an affordable and stable home than it is about a quick real estate flip.

The cooperative's setting also plays a large role in its appeal. The community is situated in a green and tranquil environment, offering a stark contrast to the dense, urban landscape often associated with New York City. The wooded hilltop location provides spectacular views of the Hudson River, the Palisades Cliffs, and even the Manhattan skyline in the distance from many apartments. The beauty of the natural environment and the friendliness of the diverse residents contribute to the feeling of a peaceful village within the city. This blend of natural beauty and urban convenience is a key selling point for those considering a move here. For anyone seeking a quieter lifestyle without sacrificing access to the city's amenities and public transportation network, Knolls Coop Section 2 presents a compelling option. The community's design, from its well-maintained grounds to its solid brick buildings, speaks to a commitment to quality and longevity, which is a rare find in today's housing market.

Moreover, the community at Knolls Coop Section 2 is designed for long-term residency. Some tenants have lived there since the buildings were first constructed, a testament to the community's stability and appeal. The cooperative also allows for a one-time share transfer to a family member, which is a unique feature that supports intergenerational living and community continuity. This emphasis on building a stable, long-term community sets Knolls Coop Section 2 apart from many other housing options. While it may not offer the same financial return as a market-rate property, it provides a different kind of return: a sense of belonging, a stable living environment, and the peace of mind that comes with predictable monthly costs. For many New Yorkers, especially families and those looking for a break from the constant flux of the rental market, this is a far more valuable proposition than short-term financial gains. It's a place where residents can truly put down roots and feel secure in their homeownership.

Knolls Coop Section 2 is conveniently located at 55 Knolls Crescent, Bronx, NY 10463, USA. This address places it in the southern section of Riverdale, in the Spuyten Duyvil area. The neighborhood is well-regarded for its green spaces and proximity to the Hudson and Harlem Rivers. The physical location on a cul-de-sac and on a hilltop contributes to the quiet and secluded feel of the community, despite its urban setting. Accessibility is a major advantage for residents. The location is just a short walk from various public transportation options, including the New York City subway and express buses that provide easy commutes to Manhattan and other parts of the city. For those who drive, the Henry Hudson Parkway and the Major Deegan Expressway (I-87) are just minutes away, providing quick access to the city and the wider tri-state area. This combination of a tranquil, residential feel and excellent transportation links is a key feature of Knolls Coop Section 2, making it an attractive option for a wide range of New Yorkers, from commuters to those who work from home.

The building's accessibility features are also a significant point of consideration for residents and visitors. Knolls Coop Section 2 offers a wheelchair-accessible entrance, which is an important feature for ensuring the community is welcoming and inclusive for all. This commitment to accessibility reflects a modern approach to cooperative living, where the needs of all community members are taken into account. The building also has an elevator, which adds to the convenience and ease of movement for all residents. Being located in a walkable neighborhood with a Walk Score of 80 and an excellent Transit Score of 83, residents have a wide array of shops, restaurants, and other conveniences within easy reach. This makes daily errands and commutes much simpler and more enjoyable. The combination of its physical location, proximity to transportation, and accessible features makes Knolls Coop Section 2 a highly practical and desirable place to live for those who value both convenience and a sense of peaceful seclusion.

While Knolls Coop Section 2 is a cooperative and not a traditional real estate agency, the information provided highlights several key services and amenities that are available to its residents. These features are part of the value proposition of living in this specific community. They go beyond simple housing and contribute to a more comprehensive lifestyle. The provided information lists the following services and amenities:

• Car Services: While the exact nature of this service is not specified, it is a convenient amenity for residents. It could refer to a designated service for transportation needs, which is a valuable feature for a community of this size. On-site resident parking, both outdoor and indoor (with a waitlist for the garage), is also a feature of the community, which is a significant convenience in New York City.

• Exercise Programs: The community provides exercise programs for its residents. This promotes a healthy lifestyle and offers a convenient way for residents to stay active without leaving the community. It also contributes to the overall community-focused atmosphere by providing shared activities for residents to participate in.

• Shuttle Service: This is a highly valuable amenity for a New York City community. A shuttle service can help residents with their daily commutes, running errands, or accessing nearby transportation hubs. It enhances the convenience of living in the community and makes it easier for residents to get around without a personal vehicle.

Knolls Coop Section 2 offers a variety of features and highlights that make it a compelling choice for potential residents. These unique attributes are part of what defines the community and its appeal to buyers seeking a specific kind of living situation. The provided information highlights several key aspects that are worth noting:

• Limited Equity Cooperative Model: This is the most significant feature of Knolls Coop Section 2. It ensures that apartment prices remain below market rates, making homeownership a more affordable and stable option. This is particularly beneficial for individuals and families looking for a long-term home rather than a short-term investment.

• Wheelchair Accessible Entrance: The building's commitment to accessibility is a key highlight, ensuring that residents and visitors with mobility challenges can navigate the property with ease. This inclusive feature is an important consideration for many people when choosing a residence.

• Comprehensive Amenities: The community provides a wide range of amenities that go beyond the basic housing structure. These include a live-in superintendent, on-site laundry facilities, storage lockers, a bicycle room, and a community room for events. There are also indoor and outdoor play spaces for children and lovely gardens with sitting areas, all of which contribute to a high quality of life for residents.

• Scenic Location: Situated on a wooded hilltop, many apartments offer stunning views of the Hudson River and the Manhattan skyline. This natural beauty and serene environment provide a peaceful retreat from the hustle and bustle of city life, a feature that is highly sought after by New Yorkers.

For individuals interested in learning more about Knolls Coop Section 2, the following contact information is available:

• Address: 55 Knolls Crescent, Bronx, NY 10463, USA

• Phone: (718) 775-6320 and +1 718-775-6320

It is important to note that Knolls Coop Section 2 is a cooperative community, and the process of buying or selling an apartment within it is unique. Transactions are typically handled through a dedicated process involving the cooperative board, and it is common for a specific real estate agency or broker to specialize in these types of limited equity properties. Potential buyers should contact the cooperative's management directly to understand the specific rules and procedures for purchasing an apartment, including the cash-only sales rule which is often the case for limited equity co-ops, and to inquire about any available listings.

When considering Knolls Coop Section 2, what is worth choosing is its unique blend of affordability, stability, and community-focused living. For New Yorkers navigating the complex and often overwhelming real estate market, this cooperative offers a genuine alternative to conventional ownership. The limited equity model means that you are investing in a home and a community, not just a financial asset. This can lead to a more stable living situation with predictable monthly costs, which is a significant benefit in a city known for its high cost of living. The included utilities in the monthly maintenance fees (heat, water, gas, and electricity) add to this financial predictability, making it easier for residents to budget. The community's established nature and the sense of belonging it fosters are also key factors to consider. This is a place where people put down roots and where neighbors know each other, which can be a welcome change from the anonymity of many large apartment buildings.

Furthermore, the amenities and natural environment of Knolls Coop Section 2 offer a high quality of life. The serene hilltop location with its scenic views provides a daily sense of peace and tranquility that is a luxury in New York City. The on-site services, such as a live-in superintendent, laundry facilities, and the noted exercise and shuttle services, are designed to make daily life more convenient and enjoyable. The building's accessibility, including its wheelchair-accessible entrance, demonstrates a commitment to inclusivity. However, prospective buyers should also be aware of the cooperative's specific rules, such as the cash-only sales policy and the "flip tax" where a portion of the sale proceeds goes back to the co-op. This is not a place to make a quick profit, but rather a place to build a life. The value here is in the long-term, affordable, and community-oriented living experience it provides. For a buyer who prioritizes stability, a strong community, and a high quality of life over speculative financial gains, Knolls Coop Section 2 is a very strong and worthwhile option in the Bronx real estate market.

Knolls Coop Section 2

55 Knolls Crescent, Bronx, NY 10463, USA