LEGAL STRUCTURE 30 Gloucester St. is NOT a co-op. You are purchasing an undivided percentage interest in real property and exclusive right to occupy the apartment purchased. You will be registered on title, and you will be acquiring a deed. In day to day operations this co-ownership runs just the same as a condominium.
PURCHASE REQUIREMENT 30% down payment. land transfer taxes, and legal fees. Monthly maintenance fee of $508.00 include property taxes, heat, hydro, water and building insurance. Extras are cable, Internet, phone and homeowners insurance.
FINANCING Most of the lending is done by credit unions, versus banks. This is not because of risk factor but co-own is niche market and big banks prefer larger market sectors for their lending portfolios. DUCA currentley provides most of the loans for new co-ownership buyers. www.DUCA.com
*NOTE * Prices vary based on size and condition. Some apartments are 'as is' original 1970's condition.Many have been renovated and range from a simple remodelling to being styled by interier designers. The extent of work, quality of materials and type of appliances or fixtures can significantly influence prices.
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Gloucester Gate (4) Floor Plans
Studio
Suite 05, 07 - Both North view - $130,000-$150,000
