Linwood Park Fort Lee NJ : Co-operative Apartments Co-Op Apartments Fort Lee : linwoodpark.com : Real Estate Fort Lee

About the 1170 Apartment Corporation

Financial Matters

Linwood Park's maintenance fees are lower than most comparable cooperative apartments in the area. The interest and real estate components of Linwood's monthly maintenance charges are fully deductible from shareholder personal income taxes. The Corporation maintains adequate financial reserves to meet normal capital replacement requirements. A copy of our current year end balance sheet is available from the business office.

Because of Linwood's excellent financial strength, local financial institutions are most willing to make mortgage loans available to prospective Linwood Park shareholders.

Board of Directors

The fifteen member Board of Directors establishes policy, manages the financial and business affairs of the 1170 Apartment Corporation, establishes annual budget requirements, adopts house rules and regulations, approves apartment purchases and subtenancies, and enters into contracts for maintaining and improving the Corporation's buildings and grounds.

Business Office

Linwood Park is self-managed; we employ a general manager and management, maintenance, security, and custodial staff. The Business Office conducts the Corporation's daily business under the supervision of our Board of Directors, elected by the shareholders. Management acts as a liaison between the Board and Shareholders. Its many functions include distributing correspondence and responding to shareholders' and residents' written communications and telephone calls. The office is open Monday through Friday from 9:00 A.M. until 5:00 P.M. The office may be reached at 201-944-2038. Messages can be left on voice mail after hours.

The Corporation is responsible for the general maintenance and repair of the common areas of Linwood Park. The Maintenance Office is open weekdays from 8:30 A.M. until 4:30 P.M. For emergencies only the Maintenance Office can be reached around the clock through the Corporation's answering service at 201-944-7135.

The Linwood Park grounds crew is responsible for maintaining the park setting of the complex and for snow and leaf removal from walkways and interior parking areas.

> top