Have you ever heard of the Dakota? No, it’s not about the states of North or South Dakota in the US. It’s not even that once famous Hollywood child actor, Dakota Fanning. Maybe you have read, watched or heard about this somewhere but it did never register in your brain. There is really nothing significant about this place as far as we, Filipinos, are concerned. Unless you are a co-op person or a fan of John Lennon.
The Dakota is a prestigious and exclusive residential building. That is expected especially if it is located in Manhattan. Several personalities of the rich and famous stayed there at some point in their lives. But that is not the reason why I am writing about it. It is just that this is a co-op apartment building. Yes, the Dakota is a co-operative.
Previously, if I come across the Dakota in my readings, I often associate it with that person who once said that his group, the Beatles, is more popular than Jesus Christ. He used to live there. His name was John Lennon. He was a long-time resident of that place from 1973 until a deranged fan shot him to death outside the apartment in 1980.
It was only last week that I discovered that the Dakota is a co-op owned apartment building. If not for that James Patterson novel that I was reading I would not have known about this interesting fact. In the story, he situated his characters in the Dakota. It was mentioned in passing that this apartment is a co-op. Being a co-op advocate, I got intrigued and immediately Googled it. Truly, the place is indeed a co-op. (There is always something new to learn that is why I keep reading).
This got me thinking about our local co-ops that are engaged in operating apartment buildings. They are just a few. This is one thing the others could explore. It would be great. Now that co-ops are expanding, perhaps they could consider this kind of business under the concept of diversification.
We have housing co-ops and co-ops that offers loans for housing. As the population continue to balloon, there will soon be a great demand for residential housing. As residential lots continue to diminish, apartment buildings, condominium and transient houses will soon become attractive for people looking for a place to live. And who knows, one of your future customers will be a grandchild of John Lennon.