Eleven Slade is a resident managed building with an excellent staff. There is a strong emphasis on fiscal responsibility, both in our day to day operations and in the constant reinvestment in improvements and upgrades to the building’s structure and grounds, mechanical plant, and technology.

Our well-constructed, well maintained ten story building has nine floors of residential housing and a basement. Plaster wall construction assures residents a great measure of peace and solitude.

Eleven Slade Apartment Corporation located at 11 Slade Avenue, Baltimore, Maryland 21208 was formed on July 25, 1960, and operates as a cooperative apartment building (“Co-op”) with 130 residential units of varying sizes. Eleven Slade is not a condominium (“Condo”). For additional information about cooperative apartments and condominiums refer to the website section below titled “Difference between a Co-op and Condo.”

Multiple services and benefits are available including:

• 24-hour camera surveillance of the grounds
• Front desk receptionist 24/7 controlling entry into the building
• Doorman and valet parking services available 7:30 am – 11:30 pm seven days for residents and guests
• Use of community room with full service kitchen by residents
• Two guest rooms for visitors at moderate charge
• Underground parking garage
• Beautiful year-round landscaping
• Defibrillator on site with trained employees and residents
• Pet-free building

Condos are considered real property and are bought and sold like a single family residence. The owner may obtain a mortgage. The expenses to own a condo usually include 1) mortgage – principal and interest), 2) monthly common area fees (“CAM”) to maintain the interior and exterior of the apartments and grounds, and 3) real estate taxes. Ownership and occupancy of a condo are usually governed by rules and regulations called Covenants, Codes & Restrictions that cover everything from allowable noise levels permissible to pet types and breeds permitted on the grounds.

Condos are governed by a tenant elected Board of Directors that is usually made up exclusively of condo owners. They oversee the Covenants, Codes and Restrictions and manage the building budget to ensure they do not overspend and have enough reserves for future capital maintenance expenses.

Co-op apartment buildings are owned by a corporation. Technically they are not classified as real estate. Individual tenants do not own their apartments; instead they own shares in the corporation. Ownership is established through a stock certificate and occupancy is governed by a “proprietary lease.” The corporation pays all the building expenses including: real estate taxes, maintenance expenses, and any mortgage. The monthly co-op fee a shareholder pays is in direct proportion to the number of shares owned in the corporation.

In co-ops, the tenant-owners elect a Board of Directors. The Board is responsible for meeting with and approving prospective new owners. The Board of Directors governs the building, establishes bylaws, and authorizes appropriate changes when necessary to the mechanical and physical structure. As a rule, co-ops do not allow subletting, which creates a high owner occupancy rate.

A portion of the monthly co-op fee is tax deductible, i.e. the pro-rated share of the corporation real estate taxes and interest on the building’s mortgage payment.