What to do with a Mitchell-Lama co-op when the owner dies

… … The process of selling shares back to the coop should be fairly straightforward and while youll be on … or have substantial mortgage amortization and these values can sometimes be in the high five figure range If … building will then be on the hook for the monthlies not you My one piece of advice would be to do this as quickly as …

By Virginia K. Smith |October 3, 2016 - 1:59PM
How one New Yorker is trying to buy her affordable housing dream

… particular Id long had my eye on the world of MitchellLama coops  one of the few affordable housing deals out there for  buyers not renters Theyre notorious for their yearslong wait …

By Virginia K. Smith |July 26, 2016 - 1:15PM
I finally got off the wait list for a Mitchell-Lama apartment, and now the building's going private. What can I do?

… there tell me that there are plenty of studios available What is my recourse and can I prove that the complex is … been on the waiting list for several years are a qualified buyer and have been told there are no apartments available … when affordable MitchellLama buildings go market rate … Buy … Sales Market … Buy Affordable Housing … Co-ops … Rent …

By Virginia K. Smith |September 2, 2015 - 9:59AM
What happens when affordable Mitchell-Lama buildings go market rate?

… privatize giving up the government subsidies they currently enjoy as an affordable housing complex and taking the … Brewer told the Downtown Post  I am hopeful that all current residents of Southbridge Towers will be able to … apartment you bought on the cheap even if the sale  does  come with a heavy flip taxmoney that will be …

By Virginia K. Smith |October 3, 2014 - 11:59AM
As transient renters move in, one Tribeca photog snaps portraits of her long-time neighbors

… the complex was removed from the MitchellLama program … What have you learned about your neighbors … That the sense … are to stay awhile until the next move most likely to buy a piece of real estate … Whats changed since the … Yorkers dinner rituals are lonely but strangely beautiful … Buy … Sales Market … Buy Affordable Housing … Rent … The …

By Julie Inzanti |August 28, 2014 - 9:59AM