Gramercy Park of Eagan Cost Chart
These Membership and Monthly Carrying Costs are effective from April 1, 2024 through March 31, 2025.
There are two primary costs involved in joining the Cooperative:
1. Membership Cost is the initial one-time payment to purchase a share in the Cooperative, scaled according to the size of the home being purchased.
2. Monthly Carrying Charge is the monthly payment, also scaled according to the size of the home, which pays for the mortgage, real estate taxes, operating expenses, lender-required reserves, interior & exterior maintenance, heat, electricity, water, sewer, trash, recycling, cable TV, internet, phone & heated underground parking with secure storage unit.
| Floor Plan | Unit Description | Sq Ft* | # of Units | Membership Share as of 4/1/24 | Monthly Carrying Charge 4/1/24 | 1% Equity as of 3/31/24 |
|---|---|---|---|---|---|---|
| ASPEN | 1 BD - 1 BA | 683 | 3 | $48,375 | $878 | $780 |
| SYCAMORE | 1 BD - 1 BA | 915 | 6 | $64,400 | $1,176 | $1,043 |
| CYPRESS | 2 BD - 1.5 BA | 992 | 18 | $70,195 | $1,275 | $1,132 |
| LAUREL | 2 BD - 2 BA | 1,064 | 9 | $75,000 | $1,367 | $1,215 |
| HAWTHORNE | 2 BD - 2 BA | 1,100 | 6 | $77,600 | $1,414 | $1,256 |
| HICKORY | 2 BD - 2 BA | 1,203 | 3 | $84,885 | $1,546 | $1,371 |
| WILLOW | 2 BD - 2 BA | 1,237 | 12 | $87,275 | $1,590 | $1,412 |
| ROSE | 2 BD - 2 BA - Den | 1,546 | 3 | $109,225 | $1,987 | $1,765 |
| LILY | 2 BD - 2 BA - Den | 1,708 | 6 | $116,175 | $2,195 | $1,947 |
| OAK | 3 BD - 2 BA | 1,778 | 3 | $123,200 | $2,285 | $2,030 |
*Estimated- actual square footage may vary.
+Annual 1% equity is added to the Membership Share at end of the Fiscal year.
Gramercy Park of Eagan has 69 apartment homes, including 1-, 2- and 3-bedroom floor plans.
Anyone of any age can be on the waitlist with only a $500 deposit. When you become 55 years of age, you are eligible to purchase an available membership.
A portion of your monthly payments consisting of taxes and mortgage interest is deductible on your state and federal income taxes.