New cooperative building will give first time home buyers affordable opportunity to own their home. On February 28, 2018, the Department of Housing Preservation & Development (HPD) announced plans to develop a 100 percent affordable seven-story co-op building in the Williamsbridge section of the Bronx. The building, named Sydney House, is the first affordable housing development to be financed under the HPD’s Open Door program.
co-op
Comptroller Audit Finds $10 Million Wrongly Given In Tax Abatements
Audit determined the Department of Finance improperly gave abatements to condos and co-ops owned by corporations over a four-year period. On January 28, 2016 the Office of the City Comptroller Scott Stringer released a report of an audit conducted of the Department of Finance. In the final report, the Comptroller’s Office found the Department of Finance wrongly gave out over $10 million worth of property tax abatements to corporate-owned condominums, co-ops, indoor parking spaces, … <Read More>