New York's Cooperative and Condominium Community

Habitat Magazine Insider Guide



The special rate is available to those buildings located in one of 15 city-designated priority community districts.

Shed in in Crown Heights is in disrepair, just like the building behind it. 

Strict construction standards eliminate fossil fuels and slash energy bills.

Streamlined process has eliminated project delays and approval backlogs.

Developer calls controversial project's foes "limousine liberal elitists."

Petition drive seeks to kill zoning change favored by developers.

Affordable Solar Comes to Affordable Co-ops

Written by Marianne Schaefer on April 04, 2018

Crown Heights, Brooklyn

Community Share Program cuts bills for common areas and apartments.

Even without luxury condos, opponents deride project’s gentrification.

Crown Heights activists fight city plan for Bedford Union Armory.

In the early 1980s, the 16-unit co-op at 572 Sterling Place in the Crown Heights section of Brooklyn was an abandoned, derelict shell. Catholic Charities and the parish of St. Theresa of Avila helped secure it a $440,000, 30-year mortgage, and property was incorporated as a co-op under the city's Housing Development Fund Corporation (HDFC). Each unit was valued at just $27,500, and shareholders agreed to contribute sweat equity for 10 percent of that sum, including demolition work and installing flooring, trim, and cabinets.

It was a building designed to be affordable to low- and middle-income New Yorkers. But now some shareholders, delighted by the low price when they bought, are seeing things differently as they go to sell — warping the very affordability the HDFC program fosters.

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Learn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments

Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise

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