SUNDOWNER PARK at a Glance
Sundowner Park, Inc. was incorporated on Tuesday 23rd March 1982. The mobile home park, which includes the three blocks between 133rd and 136th streets, one block deep on the West Side of Coastal Highway was purchased by a group of investors. The 190 lots in the park could not be subdivided and sold off individually due to their size so the investors decided to convert the park into a Co-Op Park.
The tenants, who had been renting lots, were given the option to purchase stock in the Co-Op and were issued a Ninety-year Proprietary Lease. This Lease would entitle them to keep any approved size home on that lot that met City and Park Regulations. All lots are owned by the corporation, Sundowner Park Inc, not the individual shareholder.
There is a monthly “Park Fee” that each Stockholder is required to pay. The fee includes partial Real Estate Property Taxes, Sewer & Water, Trash Pickup, Grass Cutting, Use of Pool, and Maintenance & Management of the Park. NO Ground Rents…
The Co-Op Park cannot be sold unless 80% of the Stockholders agree to the sale. This is a great opportunity to have a home in Ocean City located one block from the Ocean with an Outdoor swimming pool. The Park has stringent Rules and Regulations that are enforced by Park Board so that all the owners enjoy their stay in Ocean City.
In accordance with Article V, Section 6 of the Sundowner Bylaws, as amended and restated on October 9, 2021, Sundowner Park Inc. has established an Admissions Committee responsible for evaluating proposed stockholders, assignees and subtenants as laid out in Article V, Section 6 of the Sundowner Park Inc Bylaws.
Effective May 1, 2023, stocks can’t be sold or transferred until approved by the Board of Directors, it is the responsibility of the Stockholder(s) to notify/inform the realtor, potential buyers, or any others of this policy and procedure. No closing on the sale or transfer of stocks will be conducted until recommended by the Admissions Committee and approved by the Board of Directors.