Tuesday, October 19, 2010
Sunday, October 10, 2010
Ocean Court: great value in a quiet, spacious, newly renovated unit!
Ocean Court is like no other on the island. Some of the particulars are explained below...
Ocean Court is a Co-Operative Association. The association is responsible for all external and building issues: ie..plumbing within the walls, any electrical issues, grounds, roofing, heating, exterior painting, exterior balconies etc.. The unit has been within the family for over 30 years and to my knowledge it has never been 'assessed' by the association for updates/repairs or billed uniquely for any issue.
Co-Op Fees: 640/month, which includes heat, electric, water, sewer, city trash removal, overall building insurance, grounds maintenance, pool maintenance, building maintenance, and property taxes. The board provides each unit's tax assessment for income tax deductions yearly. These fees are the true cost of living in the building - because it is a Co-Op, no one is profiting from the dues. The money pays the bills and keeps a reserve of cash for repairs and updates.
The building has 41 units and was built in the 1930s. It is immaculately well-kept and in exceptional condition. The residents are friendly and help each other. Some reside year-round, some reside seasonally or on the weekends. The unit cannot be used as a rental because the residents of the community seek to live in a peaceful retreat within a busy resort town. The location is perfect for someone seeking a quiet, well-maintained, hassle-free haven close to the beach and boardwalk. Pets are not allowed to live in the building at this time.
Parking - parking is uniquely abundant at Ocean Court. There is guest parking available when family and friends come to stay. Passes are issued to ensure that the parking lot is used for Ocean Court residents and guests only.
How to finance? Because the building is kept as a Co-Op, when you buy, you own a share of the entire Co-Op, building and its workings - not the title or deed to a property. The bank is not usually interested in mortgaging something like this. Some tenants do finance through a bank, though it may require other collateral or equity within another property. Home-equity loans are an attractive financing tool for some buyers.
There is no central air-conditioning within the building. Special, internal air-conditioners are approved for use. These units have a hose that connects to the window for exhaust, but the typical window-air conditioners are not allowed. The good news is that this unit is on the second floor, faces the ocean and has excellent cross-ventilation. There are ceiling fans in every room but the bathroom. This summer was one of the hottest on record, and the residents on 2-4th floors of C-building attest that they did not run their air conditioners excepting a few days this summer.
Some unit and building details: 1089 square feet. 2 bedrooms, 1 bathroom, large living room, large dining room, galley kitchen. The unit was recently renovated: new kitchen, new bathroom, new windows throughout, new sliding door and screen, freshly painted, new berber carpeting. There are large closets, a very large pantry, and room for some renovations/changes to floor plan if desired. The unit has its own storage in the basement, there is coin-op washer/dryer in the basement, as well as exercise equipment for general use (treadmill, stationary bike, etc) in the basement. There is an elevator in the building to facilitate ease of laundry movement to the basement or groceries up to the unit.
There is a outdoor pool that is on-site. There are grill facilities on-site at the pool and the space can be reserved for parties. There is an annual pool party for all the residents in the summertime, and there are deck chairs, tables and umbrellas for use at the pool.
There is truly no better value on the island - the unit is priced to sell quickly. Email (rlb37@cornell.edu) or call (607-351-3155) with questions.
Ocean Court is a Co-Operative Association. The association is responsible for all external and building issues: ie..plumbing within the walls, any electrical issues, grounds, roofing, heating, exterior painting, exterior balconies etc.. The unit has been within the family for over 30 years and to my knowledge it has never been 'assessed' by the association for updates/repairs or billed uniquely for any issue.
Co-Op Fees: 640/month, which includes heat, electric, water, sewer, city trash removal, overall building insurance, grounds maintenance, pool maintenance, building maintenance, and property taxes. The board provides each unit's tax assessment for income tax deductions yearly. These fees are the true cost of living in the building - because it is a Co-Op, no one is profiting from the dues. The money pays the bills and keeps a reserve of cash for repairs and updates.
The building has 41 units and was built in the 1930s. It is immaculately well-kept and in exceptional condition. The residents are friendly and help each other. Some reside year-round, some reside seasonally or on the weekends. The unit cannot be used as a rental because the residents of the community seek to live in a peaceful retreat within a busy resort town. The location is perfect for someone seeking a quiet, well-maintained, hassle-free haven close to the beach and boardwalk. Pets are not allowed to live in the building at this time.
Parking - parking is uniquely abundant at Ocean Court. There is guest parking available when family and friends come to stay. Passes are issued to ensure that the parking lot is used for Ocean Court residents and guests only.
How to finance? Because the building is kept as a Co-Op, when you buy, you own a share of the entire Co-Op, building and its workings - not the title or deed to a property. The bank is not usually interested in mortgaging something like this. Some tenants do finance through a bank, though it may require other collateral or equity within another property. Home-equity loans are an attractive financing tool for some buyers.
There is no central air-conditioning within the building. Special, internal air-conditioners are approved for use. These units have a hose that connects to the window for exhaust, but the typical window-air conditioners are not allowed. The good news is that this unit is on the second floor, faces the ocean and has excellent cross-ventilation. There are ceiling fans in every room but the bathroom. This summer was one of the hottest on record, and the residents on 2-4th floors of C-building attest that they did not run their air conditioners excepting a few days this summer.
Some unit and building details: 1089 square feet. 2 bedrooms, 1 bathroom, large living room, large dining room, galley kitchen. The unit was recently renovated: new kitchen, new bathroom, new windows throughout, new sliding door and screen, freshly painted, new berber carpeting. There are large closets, a very large pantry, and room for some renovations/changes to floor plan if desired. The unit has its own storage in the basement, there is coin-op washer/dryer in the basement, as well as exercise equipment for general use (treadmill, stationary bike, etc) in the basement. There is an elevator in the building to facilitate ease of laundry movement to the basement or groceries up to the unit.
There is a outdoor pool that is on-site. There are grill facilities on-site at the pool and the space can be reserved for parties. There is an annual pool party for all the residents in the summertime, and there are deck chairs, tables and umbrellas for use at the pool.
There is truly no better value on the island - the unit is priced to sell quickly. Email (rlb37@cornell.edu) or call (607-351-3155) with questions.
Monday, September 27, 2010
Open House - Saturday October 9
From 10AM to 5PM, we will be offering the apartment for your viewing. See for yourself the expansiveness of the floorplan, enjoy the balcony, and imagine yourself living just a short walk to the boards and beach. Ocean Court is a uniquely private and quiet setting. No rentals are permitted onsite, keeping the summertime peaceful in a way that much of Ocean City does not experience. The building is historic, well-maintained, and charmingly unique. We're looking forward to seeing you - 300 Ocean Ave., Ocean City NJ.
3 blocks to the boardwalk and beach!
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