The numbers don't work and anything that cheap in Jersey city or Hoboken means something is wrong with it (usually co-ops with ridiculous HOA fees and bad management) It will be a nightmare trying to get rid of that thing in the future. 

In my course, we are learning about co-ops, but I'm confused about the benefits of a co-op.

Would you be open to helping the OP with their marketing plan personally?

@Matt Devincenzo This is an unnecessary call out based on semantics regarding what the OP wrote  - "borrow from it/pull from it" she is asking advice to get educated, where she has yet to learn the terms and subtleties surrounding the topic.

So I agree with the OP there is a learning process.

I'm in a similar situation as the OP.  

Thats for Ops.

I also own my home, a co-op in NYC.

I gave tenants a brief survey and all indicated they use coin-op laundry.

I echo Ops Pros vs cons with the exception of LTRs taking care of the place.After a LTR leaves in 2-4 yrs, the place is always trashed with more people living in the place than stated.