Bronx Co-op Board Accused of Mismanagement by Shareholders (NY)

/ Owner - July 29, 2024

A epic battle between shareholders and their co-op board is unfolding in the Bronx, and it holds lessons for every resident of every co-op in the city.  On one side is a group of disgruntled shareholders at the 273-unit Park Reservoir co-op, a Mitchell-Lama that’s managed by Amalgamated Housing, the nation’s oldest and largest limited-equity cooperative; on the other side is the Park Reservoir co-op board, which is overseen by the state’s Department of Housing and Community Renewal (DHCR).    Read the article…………………………….

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