Does anyone know what is going on at Parkway Village, Kew Gardens Hills? We easily obtained a mortgage for an apartment that we really liked. But

Asked by Larry, Queens, NY Wed Nov 11, 2009

we submitted our board application over 2 months ago and have not heard anything. The only thing we were told is that no applications have been processed. Why? We decided it's time to cut our losses and told our agent to look elsewhere and our attorneys to start the process of cancelling the contract. We're leery about moving into a coop where the board doesn't appear to do anything. This is not a good indication of their management of the property. larry p

Help the community by answering this question:

+ web reference
Web reference:

Answers

18
Egulotty, Home Owner, Queens, NY
Sat Jun 1, 2013
This is an absolute lie. There were literally millions of dollars wasted on a bad deal for gasoline when I was there and even passers-by have noted the lack of upkeep on the grounds. I too believed the Coop was financially solvent when I bought in 2004. They have not filed a financial statement on time for years. Caramia, do you live in 103B? That was my old house I had to foreclose on because after finding THREE buyers, I couldn't sell my place thanks to the incompetence of the board. Don't ever buy a Coop. You will never be allowed to sell it. In my opinion, Caramia just needs to find new suckers to take money from. You will never know why your place can't sell, and no one will ever speak to you once you complain. And believe me I've contacted the AG about this. NOthing will be done to help you except trying to tax you on the foreclosed part of the mortgage.
3 votes
My neighbors listed their 2 bedroom apartment in 2013. They secured a buyer and it closed within a couple of months. They had no issues with the deal nor the board. The board does screen potential buyers, as does every co-op board in NYC. The board is fiscally responsible and the financials are solid. A good attorney and realtor can review comps and financials to confirm. A lot of good things are happening at Parkway.
Flag Fri Apr 4, 2014
Basilrathbon…, Home Buyer, Queens, NY
Tue Dec 4, 2012
Parkway Village is a mess, they can decline you and you won't know why but it appears many board members then purchase that unit at a lower price and reconstruct it and sell it at a higher price or purchase it for a family member. This current board serving at Parkway is very questionable. You would be wise to look elsewhere, The maintenance fees rise often and there is nothing to show for it, buildings are in disrepair, porticos, patios, leaves are not cleaned, there is no professionalism. Too many maintenance workers and no work is actually performed on the premises. Perhaps some board members are lining their pockets with all of the money. Yes very questionable activity going on and a very divided board, alot of secrecy and fraud.
3 votes
Parkway is on the upswing and is a good investment. 20 million approved funding (no assessment!) for capital renovations that have commenced --> new roofs on all buildings, new sidewalks, new windows, new streets, new electric/wiring, new landscape, new porticos, new entrance ways, new security system, & new street lights will be in place within roughly 3 years. There have been significant improvements in just the last 12 months, not to mention the new heating system that was installed a few years back. There are other capital projects planned as well. The board and the financials are solid - if you are considering a unit purchase, your attorney will review the financial statements and confirm. Parkway has a bright future. If you own an apartment in Parkway, do not sell at this time - it's an excellent investment; sit tight.
Flag Fri Apr 4, 2014
Hannington, Both Buyer And Seller, Princeton Junction, NJ
Sun Feb 21, 2010
We owned a coop in Parkway for over 14 years and it was the worst investment one can make. The board is incompetent and mishandles funds. Do not invest in this blackhole...
3 votes
leemarilyn, Home Buyer, Queens, NY
Wed Dec 10, 2014
There is one person who has been saying good things about Parkway Village coop
"joul234" who must be part of this works coop! Please do not try to mislead the community. Most of the people here said this building is a financial disaster.
2 votes
I agree with leemarilyn but also be aware that anyone currently invested in that coop would want to keep it from going downhill in any way possible. Creating people like joul234.
Flag Sat Jan 3, 2015
Egulotty, Home Owner, Queens, NY
Wed Dec 1, 2010
I am a former resident who was forced to foreclose because of the management of the coop. We had to relocate overseas to care for a sick parent and had a contract before we moved. The sale was so close we actually received the pay-off notice from the bank. It took two and a half months for an interview to be scheduled. We were told after we moved that our buyer was rejected. No one ever gave us a reason why. In fact no one has ever contacted us except for the Coop's lawyer to start foreclosure proceedings. You don't actually own your shares if you can't sell and aren't told why. Do yourselves a favor and tell everyone you know NEVER to by there. It was a financial disaster for us. It will be for you too. In case you think I am a spammer, my name is Eric Gulotty. I lived in 103B. Unlike the people who run that Coop, I will happily reply to any inquiries.
2 votes
joul234, what about "worst_co-op_ever's" comment? I have been looking at co-op at Parkway Village and I have to agree 100% with every thing that was said, the place is a dump! What on earth are they doing with the high (and they are higher than normal) maintenance fees they collect?
Flag Sun Nov 1, 2015
pv is the worst co-op ever. maintenance is incredibly high and for that you get the privilege of having zero maintenance. the buildings are falling apart, leaks in every building, cracks in the sidewalks, no landscaping, mold. decrepit portico's (most not painted in over 10 years), barely 8-10 sales a year when there are appx 50 apts on sale at any time. it takes years to sell a beautiful apartment. Low sale prices and high maintenance fee are a RED FLAG. Run away and don't look back.
Flag Wed May 7, 2014
Equlotty - As a resident, I make it a point to attend shareholder meetings during which the co-op attorneys, board, and CPA present and review financials as well as capital improvement plans. Your statement regarding the financials is simply misinformed. The financial are solid, which will be confirmed by a prospective buyer's attorney prior to entering into contract. If you are interested in the sales price of the unit in reference, you'll easily locate the information online. Regarding deal approval, there are many factors a board must take into consideration, not just the purchase price and the prospective buyer's income. It certainly would be nice if boards were required to disclose the reasons why they do or do not approve deals, but NYC law stipulates that it's not required. You won't find any co-op board in NYC that will disclose the information.
Flag Fri Apr 4, 2014
NYC law stipulates that co-op boards are not required to provide sellers or buyers with a reason why they approve or do not approve a deal. You won't find any co-op in NYC that will disclose the information. Parkway's financials are solid. A prospective buyer will have their attorney review the financials for confirmation.
Flag Fri Apr 4, 2014
This seems to be a trend. Who knows maybe they have some kind of deal with the bank.
Flag Mon Jan 20, 2014
condoownerme, Home Buyer, Kew Garden Hills, Queens, NY
Wed Feb 24, 2010
This is amazing. I just saw an apartment last night that I loved in Parkway Village, and I had serious concerns about the outrageous maintenance charge. And now, you're telling me the board is dysfunctional; well thank you very much. Also, I would agree with the person who previously bought there, that the resale doesn't look good when you compare this location to others in the area. The historical resale is flat. Why is that when Kew Gardens is one of the most sought after areas in Queens and New York? One apartment in Parkway Village was listed, and sold before I could even bid, and it had all new appliances, everything, and it was listed for the same price as an apt. that clearly needs work. Hmmm. I am so grateful for Trulia, this place where we can inform one another and steer one another clear of being in the middle of a disaster in the wait.
2 votes
Catherine Ul…, Home Buyer, Kew Garden Hills, Queens, NY
Wed Dec 2, 2009
i have looked for a Co-op at Parkway Village, Kew Gardens, but i would cut my losses if i were you, the apartment looks nice but the property isnt maintained, there is no rush for pavement repair, or leaves removal, or chipped paint off the doorways. Not for nothing but paying 800 plus in maintenance in any other complex you see grounds well maintained and no garbage, paint is perfect.
2 votes
Ksay, Home Seller, Astoria, NY
Thu Nov 19, 2009
I was considering buying a coop here a few years back. Then I did an online search and found that the board was fined millions for allowing workers to work with asbestos without proper permits and precautions. Look it up. This is one of the pitfalls of buying a coop - you are at the mercy of a board. A pain in the neck to get in, they have nothing better to do than overscreen people. Then, things like this can happen. Remember, its really their decision about the property and a coop is not real property its just a share you own in it. Plus, monthly "maintenance" fees are ridiculous. I'd just buy either a house or condo. Do a google search for "Parkway Village" and...stay away!
2 votes
Audreylee71, Home Buyer, Queens, NY
Sat Oct 22, 2016
DON'T EVER BUY ANY APARTMENTS IN THIS COOP WHICH IS A SCAM! ANYBODY TELLS YOU OTHERWISE AND SAYS THAT IT'S A GREAT INVESTMENT IS MOST LIKELY ON THE BOARD, A RELATIVE OF A BOARD MEMBER, IN BED WITH THE MANAGEMENT COMPANY OR THEIR LAWYERS, WHO ARE MOST LIKELY SCUMBAGS. JUST TAKE A LOOK AT ALL OF THE PROPERTIES THAT THE SAME LAWYER REPRESENTS AND ALL OF THE COMPLAINTS AND PROBLEMS RESIDENTS HAVE HAD. SAME NONSENSE. IF YOU ARE NOT DONALD TRUMP, YOU CANNOT WRITE OFF YOUR LOSSES AND DECLARE BANKRUPTCY AND THE STATE WILL MAKE YOU PAY TAXES ON YOUR FORECLOSED APT. AND THE ANTIQUATED LAW THAT WE HAVE SAYS THE COOP BOARD CAN DO WHATEVER THEY WANT, NO QUESTIONS ASKED, BECAUSE THE LAW PROTECTS THEM. DO YOURSELVES A FAVOR AND DON'T EVER BUY A COOP, ESPECIALLY ONE AT THIS DUMP! THIS IS COMING FROM SOMEONE WHO ACTUALLY LIVED THROUGH THE OSHA DEBACLE AND THE INCOMPETENCE OF THE BOARD THAT SPENT $20 MILLION ON A NEW HEATING SYSTEM. I WAS A HOMEOWNER THERE AND WE WERE FORCED TO FORECLOSED BECAUSE THE COOP BOARD LIED WHEN WE FIRST BOUGHT ABOUT THEIR FINANCIAL SITUATION AND THEY DON'T HAVE TO BE HELD CRIMINALLY LIABLE FOR WHAT THEY DID. HAD WE AND OUR ATTORNEY BEEN TOLD THE TRUTH WE WOULD HAVE NEVER BOUGHT THERE. DON'T BELIEVE THE BOARD OR THE MANAGEMENT COMPANY, BELIEVE THE PEOPLE WHO LIVED THERE AND BOUGHT THERE.
1 vote
BY THE WAY, WHEN WE LIVED THERE, WE TOLD THEM THE ROOF NEEDED TO BE REPAIRED MANY TIMES DUE TO WARPED WOOD FROM THE WATER DAMAGE AND THEY DRAGGED THEIR FEET, UNTIL ONE EVENING, WHILE MY SON WAS SLEEPING IN HIS CRIB, THE ENTIRE ROOF COLLAPSED IN HIS ROOM, WITH LARGE PIECES FALLING ALL AROUND HIM, THE CRIB AND ALL OVER THE FLOOR! WE WERE SO LUCKY THAT A HUGE CHUNK OF WOOD BEAM ACTUALLY LANDED RIGHT NEXT TO HIS HEAD AND HE WAS COMPLETELY UNHARMED. MY HUSBAND RUSHED IN TO THE ROOM IN THE DARK AS SOON AS IT HAPPENED AND NEARLY STEPPED ON A HUGE PIECE OF NAIL THAT WAS FACING UPWARD STUCK IN A PIECE OF WOOD BEAM. WE CALLED THE EMERGENCY PHONE NUMBER AND THEY SENT WORKERS AT 7 AM THE NEXT MORNING TO DO AN EMERGENCY FIX. HAD THEY DONE THEIR JOB, THIS WOULD NOT HAVE HAPPENED AND IF WE WERE NOT SO LUCKY AND ACTUALLY HAD GOOD "KARMA", OUR SON WOULD HAVE HAD BRAIN DAMAGE, OR WORSE, HE COULD HAVE POSSIBLY DIED FROM THIS! FOR YOUR OWN SAFETY, DON'T BUY HERE!
Flag Sat Oct 22, 2016
Dory, Home Buyer, New York, NY
Fri Oct 9, 2015
I live in parkway village and yes the current board sucks! They don't take care of the grounds much at all. They lie cheat and steal. You are not alone in your frustration. It took them years to fix the sidewalks and they haven't yo he'd porticos that need repair.
1 vote
Considering purchasing a unit in PV. Have an interview actually this week. Concerned there are so many vacant apartments and high maintenance. Has anything changed? I saw people working on the lawns last time I went....
Flag Wed Jun 22, 2016
So why don't some of the shareholders get together and organize an insurgent group to take over the Board of Directors?
Flag Sun Jan 17, 2016
Belal Mohd, Agent, Rego Park, NY
Thu May 30, 2013
Read between the lines, Abichak. If not, compare the maintenance with neighborhood Co-ops.
1 vote
jcowlan, Other Pro, New York, NY
Mon Apr 28, 2014
Do you know who manages the property?
0 votes
joul234, Home Buyer, New York, NY
Fri Apr 4, 2014
Parkway's on the upswing and is a unique, pet friendly Village in NYC. A 20 million dollar capital improvements project is underway that did not require an assessment/fee for owners. Improvement plans include --> new roofs & windows on all buildings, new sidewalks, streets, electrical, landscape, porticos, entranceway, security system, & street lights just to name a few. There has been signifiant project activity in the last several months. A new heating system was recently installed throughout the Village that is superior to most co-ops - tenants can control room temperature, which is almost unheard of in NYC. The board is fiscally responsible and the financials are solid. If you are considering a unit purchase, your attorney will review the financial statements and confirm. Parkway has dealt with significant challenges in the past due to a few 'bad apples' that made poor decisions. Those days are history; lessons were learned. Parkway has a bright future. The energy is positive and productive, neighbors are friendly, and the trees throughout the Village are magnificent. Parkway will be the 'shinning star' of Kew Gardens Hills when the capital improvements are complete. Great place to live and invest!
0 votes
2 years later, and just now there starting partial work. all I see is the maintenance crew hanging out and joking around. probably why the village looks crappy. the staff only gets involved if there going to make money off you somehow.
Flag Fri Aug 12, 2016
You sound like either a troll or one of the corrupt board members.
Flag Wed Jun 25, 2014
Pollyanna123, Home Buyer, Jamaica, Queens, NY
Sat Jun 1, 2013
I do not "need to find new suckers to take money from"!! I live here and LOVE IT. Sorry for your troubles pal, but that is not EVERYONE"S experience. Maybe you just have bad karma.
0 votes
Good luck if you ever try to sell. I'm guessing you either are a relative of a Board member or a renter. If it's bad Karma, then explain why many other people feel the same way. And by the way the part that got me pissed of was the "we have a fiscally responsible Board" and "capital to make improvements. I was given a financial report that stated Parkway was running with a $150,000 surplus, when in fact it was over 1 million dollars in the hole. And the same people who were on the Board then are on the Board now. Why not explain how you managed to pay of that deficit? And then, why not tell me who lives in my old unit, 103B? I had a buyer willing to pay $300,000 in 2008. They had a mortgage and good jobs. They were turned down. Why not tell me who ives in the unit now and how much THEY paid? Then tell me how wonderful it is there and about my "karma".
Flag Sun Jun 2, 2013
caramia428, Home Buyer, Queens, NY
Fri May 31, 2013
THis development is clearly on the upswing. We have a fiscally responsible board that is making sound financial decisions. We have a great new heating system with thermostats in each apt that works beautifully. We have capital now to make major improvements as well- to door fronts, sidewalks, etc. This is a great time to invest in this community which is also incredibly convenient to live in. I feel like I have my own great 2 story home in the form of a coop. Plus, we're dog people here, and they are always the nicest neighbors!
0 votes
Abichak, Home Buyer, New York
Thu May 30, 2013
Could anyone provide some input on the current situation of Parkway Village co-op, we really liked the apartments and the neighborhood but hearing mixed things about the board and came across this thread, any help would be greatly appreciated, thanks.
0 votes
Parkway is on the upswing and is a good investment. 20 million approved funding (no assessment!) for capital renovations that have commenced --> new roofs on all buildings, new sidewalks, new windows, new streets, new electric/wiring, new landscape, new porticos, new entrance ways, new security system, & new street lights will be in place within roughly 3 years. There have been significant improvements in just the last 12 months, not to mention the new heating system that was installed a few years back. There are other capital projects planned as well. The board and the financials are solid - if you are considering a unit purchase, your attorney will review the financial statements and confirm. Parkway has a bright future. If you own an apartment in Parkway, do not sell at this time - it's an excellent investment; sit tight.
Flag Fri Apr 4, 2014
It seems like Parkway Village is a SCAM . I also was looking to buy there but We went there to the service Road of the Gran Central and everything looks so deteriorated that we just didn’t want to see the apartments. Yes you are right the Maintenance fees are really high
Flag Thu Oct 24, 2013
Anna M Brocco, Agent, Williston Park, NY
Sun Nov 29, 2009
Co-ops are co-ops; and boards can do as they please without any explanation.

“Co-op v. Condo” What’s the difference?

Simply put, the traditional housing “co-op” involves the formation of a corporation for the purpose of acquiring title to a multi-unit building and, in turn, leasing individual units (apartments) to the shareholders of the corporation; whereas condominium ownership involves acquiring title to individual apartments or units. In fact, condominium ownership is, for most practical purposes, only one form of cooperative housing and, like the “co-op”, must include provisions for management and maintenance of the building(s) and “common” areas, usually dictated by an elected Board of Managers, in the case of a condominium, and a Board of Directors in the case of a “co-op”.
The “condo” advantage of individual unit ownership can be compared to the benefit of being able to “choose” your neighbors in a “co-op” setting, where the application process is very often quite selective. In the sale of a “condo”, once a price is agreed upon, the deal is done; whereas the “sale” of a “co-op” requires approval by the Board of Directors—which can be (and often is) withheld based upon arbitrary selection criteria—with no recourse to the buyer or seller if the “sale” is not approved.
“Co-op” ownership represents an “interest” (i.e. stock) in realty; “condo” ownership is actual ownership of realty. Price differences reflect demographic and geographic distinctions. You decide what’s best for you.

Anna
0 votes
There is a recourse, and it is in the form of a $1,500 loss on the part of the buyer if she/he is rejected.
Flag Thu Apr 7, 2016
Pollyanna123, Home Buyer, Jamaica, Queens, NY
Sun Nov 29, 2009
The board was in a state of flux at that point in time- meaning it was time for board elections so new applications might have gotten put on hold for awhile.
0 votes
I have the same questions as Claudette- apparently you have to make an offer on a unit to get any detailed information? It looks like the place wasn't cared for for a while but now I see a good amount of work being done. I was there two days ago and thought it looked just as clean as any other NYC neighborhood. It's the upkeep of the facades and shared grass areas that concerned me. Joule as the apparent spokesperson for the development, can you offer any actual details?
Flag Tue May 10, 2016
I have gone to parkway village twice in the past year to look for a one bedroom garden apartment where I can have my own outdoor space. I have also driven through to see what the coop looks like in general. the place is shabby and is not cared for. the owners do their own landscaping in front of their doors and walkways. garbage cans are split or broken, dumpsters are open and in parking spaces, porticos and cornices are rotted away and/or chewed by rodents, owners have toys, bikes, furniture and even mops and brooms by their front doors, seems like leaves from last fall are still on the ground along with lots of dandelions. i returned last Saturday april 23. I saw workers doing repairs on rotted porticos. before I make this investment in my future, i need to know why the board and owners allowed the coop to become so dilapidated. is there a master plan for repair and renovation? what is the schedule?
Flag Mon Apr 25, 2016
Search Advice
Search
Ask our community a question

Email me when…

Learn more