I recently found and read an interesting article of the co-op ecosystem in NYC and beyond, and thought our readers and clients would find it interesting, too.
Here’s the gist of it: small co-ops can be collapsed through the acquisition of a supermajority of shares, while holdout shareholders are forced to go along with the developer’s conversion plans.
Article can be found here.
About Digs:
Digs Realty is a full-service residential brokerage company specializing in home purchases and sales in New York City. Clients working with Digs on a purchase are eligible for a rebate of up to 2% of the purchase price and clients working with Digs on a sale are eligible for commission discounts.
