447 Fort Washington Avenue • New York

      

Meeting new friends and "old" at our holiday party.

The Pinehurst

    Established as a co-op on April 22, 1985, the building itself was built in 1907 and opened in 1908 as the Pinehurst. At the time, apartments with western exposures had Hudson River views. But as in the rest of the growing city, new residents needed homes, so new streets were laid and more buildings erected. Today, some of our apartments have views of the George Washington Bridge, a feature that didn't exist in 1907.

    The co-operative corporation serves the interest of apartment owners to ensure the long-term stability of the the building and the business that operates it.  The corporation is run by an elected board of directors, which oversees a property manager and a superintendent who lives in the building.

     Eighty-six percent of the Pinehurst's apartments are owner-occupied, and all the seats on the board are filled by resident owners.

On the Market

     Currently two apartments is are for sale in The Pinehurst, one on the second floor and one on the fourth floor. The New York Times mentioned Hudson Heights as a place to find a great apartment, and wrote up the neighborhood too.

     Our property listing in The Times is available here.

     Why buy in The Pinehurst? For one thing, our high rate of live-in owners means that the building is maintained and improved by its residents, the people who live in it every day.

     For another, the Furman Center for Real Estate and Urban Policy at New York University reports that real estate value in Washington Heights surpassed the city average after  both of the last two recessions (1980-89 and 1996-2006). Only seven other neighborhoods in the five boroughs can make that claim, and not all increased as much as WaHi: up 241 percent in the eighties and up 333 percent from 1996 to 2006. 

     Compared to other neighborhoods in Manhattan, our maintenance fees are below average to boot. So if you're looking for a property that will return value, skip the Village, the Upper West Side and Murray Hill. Visit an open house at The Pinehurst and make your investment now. If you're new to the world of co- operative housing, read through The Times' guide to co-ops and mortgages.

     A home is more than an investment of money, of course. It's also an investment in life, a place where you'll know your neighbors and they'll know you.



Our annual tag sale brings out the best in everyone.

    We nurture a sense of community with parties in the lobby and trick-or-treating for the children at Halloween. Our fourth annual tag sale helps residents empty their closets and thicken their wallets. With more than three dozen apartments, storage space and a fitness center, we're a popular destination for apartment buyers in Hudson Heights. We take part in our neighborhood, too, as members of the Hudson Heights Owners' Coalition.

  

Halloween tricksters in The Pinehurst.

     In 2010 the Pinehurst welcomed a significant upgrade to its elevator. In 2008, a major renovation to the building's façade repaired bricks, stones and terra cotta that had lasted a century. Part of the renovation included replacing every window in each apartment with energy-efficient windows that tilt in for easy cleaning. They came with screens, too.

     Green improvements resulted in an energy tax credit for shareholders equal to about five percent of their maintenance fees in 2009. That's in addition to the 34 percent deduction permitted for the co-op's mortgage and property tax payments.

     For information, please e-mail us or send a letter to:

The Board of Directors
447 Fort Washington Avenue, Box 68
New York, NY 10033