Residents of BK Mitchell-Lama co-op vote against privatization

The shareholders at a Mitchell-Lama co-op building in Clinton Hill rejected a plan to privatize their property, passing up the opportunity to possibly sell their publicly-subsidized units for substantial profits. The residents at St. James Towers voted against leaving the affordable housing program last week, Brooklyn Paper reported. If they had chosen to privatize the building at 21 St. James Place, they would have been able to sell their units at free-market rates. Each of … [more]

Source: Real Estate

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