Re: COHOUSING-L digest 356 | <– Date –> <– Thread –> |
From: Lee (LEHBCCUNYVM.CUNY.EDU) | |
Date: Fri, 12 Dec 1997 08:29:31 -0600 |
It's a condition of membership in Cantine's Island cohousing that a selling ow ner shall give the homeowners' association a 30-day right of first refusal to p urchase at the lesser of (a) the original sales price plus a consumer price ind ex adjustment computed from July 1995, based on US Bureau of Labor Statistics o r a comparable index available at the time, or (b) the proposed purchase price offered by a purchaser minus a credit based on a portion of the difference betw en sale price and purchase price. The credit goes to the homeowners' associatio n. We maintain a waiting list, of course. Being a small group, we will seek to have much contact with a prospective purchaser well before any sale is effected .. The intent of our scheme is to prevent the use of units in our community for real estate speculation. Matthew Weinburd at 914 246-5026 would be willing to t ell you more about this scheme. Good luck.
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