History of Blackstone Cooperative
Blackstone Cooperative was originally Constructed as an
apartment community and was converted to a Cooperative
housing community under Section 213 of the National
Affordable Housing Act in 1964. Blackstone's HUD
insured mortgage was "burned" by one of it's original
members at it's Celebration and Mortgage Burning
Party held in November of 1999. Blackstone Cooperative
was one of the Nation's first Cooperatives to naturally retire
it's HUD insured mortgage without refinancing or needing
any additional loans or financing.
With it's close proximity to expressway access, shopping
and community services, Blackstone Cooperative provides
affordable housing opportunities to senior citizens, young
professionals and those in between. Units are comprised
of 34 two-bedroom townhouse styled units, 48 one-bedroom
apartment styled units and 291 two-bedroom apartment
styled units. Some units also include heat in the carrying charges.
You can see the current equity values, payment options and
monthly carrying charge in the Fee Schedule section of our web page.
Blackstone Cooperative is proudly managed by Marcus
Management, Inc., who has been our management agent
since 1975, and Ralph J. Marcus, the President of MMI,
is our property manager.