FAQs

What does Zvago mean?
Our name (pronounced zuh-VAH-go) derives from the Italian word svago, meaning fun and relaxation.  That’s what you’ll find here – a place where you’re free to pursue your own interests and activities as part of a lively, engaged community of neighbors and friends.

What does it cost to buy a unit and become a member of the cooperative?
Simply put, there are two costs: a one-time share payment (your down payment) and an ongoing monthly fee. But there are variables. Here’s how it works: When new members buy a “share” in our cooperative’s master mortgage of about $11 million, their share price is determined mainly by the size of the available unit and the amount that the original purchasers of that unit put down for their share. Note that new members must assume the same percentage down payment (ranging from 20% to 95%) set by the original members. Generally speaking, it will cost at least $100,000 to buy a share and could be as much as about $500,000.

Besides your purchase of a share, there is a monthly fee. That covers, among other things, your part of the co-op’s mortgage, property taxes, building insurance, upkeep of common spaces, lawncare and snow removal, internet/WiFi and TV package, trash/recycling, a building reserve fund and staff salaries. It also includes the cost of one parking stall. Members cover their own unit’s electricity/natural gas and telephone service and must carry an HO6 insurance policy on their personal belongings.  

Monthly fees range from about $1,000 to $3,000, depending on your unit’s square footage and the cost of your share. A rule of thumb: The higher your share down payment, the lower your monthly fee, and vice versa. 

What happens when I sell my share, and what will it be worth?

Note that in a limited-equity cooperative like Zvago St. Anthony Park, each share’s value is determined annually according to a set formula. Annual increases in value are limited to make this type of housing more affordable to buyers than it would be on the open market. Our current allowable rate of annual increase is 2 percent.

When you move, you must notify the cooperative board in writing of your intention to sell, or transfer, your share. The cooperative will find a buyer for you from the Reservation List. You are responsible for the monthly fee until your share is resold and the new member has signed an Occupancy Agreement. Your share value will then be returned to you or your estate.

Can I remodel my individual unit?
Before members alter or remodel their unit, the Board requires written approval. Some redecorating may be done without prior approval.

Are there garage stalls and storage spaces for every unit?
One garage space comes with every membership; any additional open stalls are available for a monthly fee. The garage stalls accommodate storage cabinets, available for purchase. In addition, any available storage spaces on the upper floors may be rented for a monthly fee.
Are pets allowed?
Standard household pets (dog, cat, bird, or fish) are allowed as long as they meet all provisions of Zvago’s pet policies, including size, which is limited to 50 pounds.
Is this a smoke-free community?
Yes, Zvago St. Anthony Park is a smoke-free community. Smoking is prohibited everywhere on site, including in units and common areas as well as on the grounds.