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Author Topic: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)  (Read 3150 times)

Offline cl4t

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Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« on: July 24, 2008, 08:14:12 AM »
Before I make an offer on an apt in this co-op, I want to get thoughts from those in the know. I will, of course, be looking at the co-op's financials and minutes, but does anyone have their own personal opinions about both the state of the building(s) and the co-op?
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Offline buddy

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #1 on: July 24, 2008, 09:16:32 AM »
I think it's pretty nice.  I know someone living there: happy.  And friends wanted to buy in there but the deal fell thru.  Good location, too.  Close to everything.
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Offline starchild

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #2 on: July 24, 2008, 12:05:02 PM »
Quote from: cl4t on July 24, 2008, 08:14:12 AM
Before I make an offer on an apt in this co-op, I want to get thoughts from those in the know. I will, of course, be looking at the co-op's financials and minutes, but does anyone have their own personal opinions about both the state of the building(s) and the co-op?

1.  It is the only garden co-op in JH that is a full square block.
2.  Mayor LaGuardia planted a tree here.
3.  The buildings and grounds are well maintained by a full time staff.
4.  The superintendents are attentive and friendly.
5.  Lovely gardens that are maintained by the volunteer gardening committee.
6.  Picnic tables in the center garden and benches for residents to enjoy during cool summer days.
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Offline eddiestjohns

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #3 on: July 26, 2008, 12:34:42 AM »
I lived here a few years and loved the location, the gardens, the staff (except the manager) and only five apartments on each side of the building to share the elevator.  Dislikes -  small closets and very difficult parking after 5:30 PM.
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Offline carrefour_ny

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #4 on: August 08, 2008, 04:56:52 PM »
I think it's a beautiful building with nice apartments and a lovely garden (although not the only one to take a full block).

When I started looking for an apartment in JH, I was about to buy something there. For various reasons, the contract didn't go through, it was more the sellers than the coop itself. However, while researching the building, I discovered that in the very recent past (i.e., in the 90s?), they had a rather serious financial problem and were close to bankrupt. Allegedly, some connection with Albany somehow saved the day (in terms of allowing them to get financing??, don't remember the details). This caused me a lot of anxiety and I had my lawyer investigate everything in detail, beyond the financials. He probably has records of it but is in Australia right now so he won't be of much help.

I would, again, do some research on that. I also believe that things have been turning around for the neighborhood and for Dunnolly Gardens, and as long as they are stable financially right now, that should matter more than their past problems. But I'd just want to know everything so I know what I'm getting myself into. Good luck.
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Offline Griswold Girl

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #5 on: August 08, 2008, 05:51:38 PM »
I heard something similar from a real estate agent.  Although, it was hearsay.  I never actually saw any documents.  It does seem that the 80s were a bad time for a lot of buildings in the neighborhood but if it happened later in the 90s I might be a little more concerned.  I would think a good lawyer and real estate agent would be able to advise you accordingly.  Maybe you can look at the financials before you put an offer in and just make sure it is something you are comfortable with?  Anyways, good luck.  You are making the right decision in moving to Jackson Heights.  I love the hood.
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Offline Shelby2

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Re: Thoughts on 39-20 79th St Co-op (Dunnolly Gardens)
« Reply #6 on: August 09, 2008, 09:46:14 AM »
Quote from: carrefour_ny on August 08, 2008, 04:56:52 PM
However, while researching the building, I discovered that in the very recent past (i.e., in the 90s?), they had a rather serious financial problem and were close to bankrupt. Allegedly, some connection with Albany somehow saved the day (in terms of allowing them to get financing??, don't remember the details). 

I found this article from 1999 interesting.  Many buildings were in financial trouble in the '90s.
1999 article from the NY Times: Troubled Co-ops Outside Manhattan are on the Rebound
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