Co-op shareholders, board members, and their support professionals are breathing a collective sigh of relief this week as the New York State legislature passed a bill exempting co-ops from certain provisions of the Housing Stability and Tenant Protection Act of 2019 (HSTPA).
Read moreIn a development sure to be of interest to New York’s co-op housing community, State Assemblymember Jeffrey Dinowitz (D) of New York’s 81st district announced the passage of a bill during the recently-ended legislative session that would allow cooperative tenant-shareholders 65 years of age and older to apply for reverse mortgages – a type of home equity loan that’s long been available to other types of homeowners, but that until now was not an option for co-ops.
Read more