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Grand Street co-op

Hillman

Three buildings at 500, 530 and 550 Grand Street.

500 Grand Street · 530 Grand Street · 550 Grand Street

Hillman is three buildings at 500, 530 and 550 Grand Street, managed by AKAM with an office on site at 530 Grand. Dogs are allowed (one dog, up to 35 lbs), and washer/dryers are allowed with board approval.

Shareholders have two private parks, parking and a 24/7 gym at 530 Grand. The board holds quarterly town halls, and directors have term limits.

Buying and subletting

Purchase application, two applicants (approx. total)
$1,227.50
Sublet application, two applicants (approx. total)
$977.50
Flip tax
20% of the sale price on an apartment's first sale since 1997; 5% after that
Subletting
Allowed after 2 years; no limit on total years. Surcharge is set by sublet term, from 50% of maintenance for the first term to 175% from the tenth term on
Trusts
An apartment can be transferred into a trust after 2 years of ownership; it can't be bought in a trust
Dogs
Allowed: one dog, up to 35 lbs
Washer/dryer
Allowed with an alteration agreement and board approval
Building questionnaire
Lender $275; attorney $325

Amenities

  • Two private parks
  • Parking (233 spaces, $350/month; not available to subtenants)
  • Gym at 530 Grand, F section, open 24/7 ($35/month)
  • Storage units in several sizes ($80–$130/month)
  • Gas, water and heat included in maintenance; electricity is submetered

Governance

  • The board meets monthly, with interviews usually the third week of the month. Shareholders can read the minutes through management.
  • The annual meeting is held in June in the Ornstein building, also on Zoom.
  • Two meet-the-candidates nights each election, one by the House Committee and one by the board.
  • Quarterly shareholder town halls, most also on Zoom.
  • Term limits: 11 directors on staggered 3-year terms, a maximum of 6 consecutive years, then 3 years off.
  • Hillman doesn't declare a summer recess, so Local Law 58 deadlines run all year.
  • Hillman passes the real estate tax abatement back to shareholders.

Last verified October 2026. Upon information and belief, based on each co-op's published information and Domecile page. Fees, policies and contacts change; please consult your attorney and confirm details with the co-op before relying on them. Fee totals assume two applicants and include application, building, credit, Domecile and registered-mail fees.

Applying soon? Read the Local Law 58 guide
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Buying or selling at Hillman?
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