Parsons Village in Morristown NJ is a co-op community located at 320 South St just off of Exit 35 from Interstate 287 North. The expansive complex includes 198 units.
Parsons Village, originally built as an apartment complex in the late 1960s was incorporated as a Co-op in 1984. Parsons Village has mostly one-bedroom, one bathroom units with many of the lower units having basements as well; however there also are two bedroom units some as large as two bedroom, two bathroom units with finished basements.
Units in Parsons Village have sold from the mid $100ks to as high as $350k for the larger two-bedroom units. The monthly maintenance fee start at around $600. While the fee is higher than many condo communities it includes heat, hot water, maintenance and taxes. As the fee includes taxes, more than 50% of the maintenance fee can be used as a tax deduction. Unlike condo living where you own your unit as fee simple ownership, in a co-op you own shares of a corporation and you are leasing the space through the corporation as an owning member.
Parson’s Village offers amenities such as an outdoor pool and playground. The location provides easy access to all that Morristown has to offer. Additionally, it is an ideal commuter location with quick access to Interstate 287 as well as the Morristown and Convent Station train stations.
Pets are allowed in the complex, which is a huge perk for pet lovers. Garages are available for an additional fee. Eco-conscious homeowners will also be happy to know that solar panels were recently added to three of the buildings.
If you are interested in finding out more about Parsons Village in Morristown NJ or finding out about home values in Parsons Village please don’t hesitate to contact me.
Check out the latest coops for sale at Parsons Village in Morristown NJ.
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(all data current as of 5/24/2013)
$1,700 : 320 South St 4-L, Morristown Town1 bed, 1 full bath
$187,000 : 320 South St 10-I, Morristown Town1 bed, 1 full bath
1 bed, 1 full bath
$179,900 : 320 South St Unit 9d, Morristown Town1 bed, 1 full bath
$185,000 : 320 South St, Morristown Town1 bed, 1 full bath
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