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Each owner purchases a share in the cooperative and, in addition, must either pay cash or secure their own financing for the amount remaining on the purchase of their new home.  This type of financing allows the buyer to customize their individual debt-to-equity ratio in a manner that best fits their personal financial preferences.

With a market rate cooperative, there is no master mortgage on the building and the value of the member's share appreciates with the overall market (in other words, equity appreciation is not limited by cooperative corporate by-laws).

Resale
Each Gramercy community maintains a waiting list for persons interested in buying into the Cooperative.  When a buyer wishes to sell, the owner sets the sales price based on market conditions which prevail at the time of sale.   Serving as a conduit between seller and buyer, the Resident Services Coordinator in the building contacts the wait list about the home's availability.  In addition, Realtors can be employed by the seller to increase the marketing universe and possibly maximize sales price.

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