Mismanaged Co-ops (NY) on the Hook for More Than $21 Million

It takes a significant amount of financial mismanagement to land a co-op in foreclosure. Although it’s a rare, and very sad, occurrence, it looks like 200 of the 329 co-ops in Community Boards 9, 10, and 11 will need to turn things around to avoid heading toward the dreaded F word. DNAinfo reports that those co-ops owe the city more than $21.2 million in unpaid taxes and water and sewage bills      Read the article………


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