Please call your realtor if you would like to become a member of the Parklane Towers’ community. The corporation does not sell any apartments. It’s between the sellers and buyers with most offerings including a realtor. So, talk to your realtor first.
You can find out what apartments are available for purchase at:
Message to potential buyers
All apartments are part of the housing cooperative of Parklane Towers, Inc. You will be buying shares of capitol stock in the Parklane Towers’ corporation. There are 72 apartments in the cooperative. Your shares give you exclusive rights to occupy the apartment included in the purchase. As a shareholder, you will be subject to the rules, regulations, and bylaws of the housing cooperative. You will be signing a Proprietary Contract in order to accept your shares into the cooperative. It is your responsibility to follow the steps in the application and purchase process.
The Board of Directors of Parklane Towers, Inc. prepares an annual budget which includes maintenance and repair of the buildings and grounds, payroll, insurance, taxes, professional fees, and utilities. Each shareholder pays a monthly Maintenance Fee to finance the annual budget. The fee charged is based on the number of shares of stock assigned to the shareholder’s apartment.
A Parking Fee is also charged for each vehicle. Shareholders pay monthly Maintenance, Bulk Cable, and Parking Fees when due, and if late, a penalty is added onto the fee.
Special assessments may also be needed for large, capital repairs and improvements not included in the annual budget. When approving for membership, the Board of Directors must decide whether or not an applicant has the financial resources to afford to live in Parklane Towers.
Refer to our Resident Selection Criteria for more information.
At any point of this application process you can ask for a copy of our Bylaws, Proprietary Contract, and Shareholder Handbook. If you have not received an advanced copy, you ask for one during your interview. Make sure you understand what you are buying into as you will be legally bound by the contract. It is your responsibility to be informed.
Decision Made
When you and your seller have a contract, you will need to fill out an application for each adult over 18 years of age that will be living in the apartment. Only two people allowed per bedroom; one person per studio. You and your spouse can fill out the main application together.
Download the Following Forms
You will be expected to use our current forms. If you are the realtor, do not delay this sale with outdated forms.
Shareholder Application for Residency
All prospective shareholders must complete this application for residency. Spouses can complete only one application together. Non-spouses (i.e. Mother-Daughter) must complete separate applications.
Background Check Forms
All adults over 18 years of age require a background check if they will live in the apartment more than 30-days. Download the three Forms below. A check of $30 for each applicant is required.
Additional Resident (non-shareholder) Application
Each adult 18-years of age or older must complete an application along with the background check forms if they will be living with the shareholder for more than 30-days. This is for a non-shareholder residents only like a child or uncle.
Cooperative Sales Agreement
Complete your Cooperative Sales Agreement prior to closing. The seller, buyer, and a representative of Parklane Towers will sign the document at closing. We will place the original in your file. Pick one up at the Office.