Isabel Vincent and Melissa Klein
- Put them under the watch of a non-profit monitor chosen by the city and paid for by the co-op itself.
- Force the buildings to raise maintenance charges by at least 2 percent a year.
- Give the city monitor authority over co-op board votes, leaving homeowners with little recourse to challenge the monitor’s decisions.
- The monitor would approve every co-op sale or lease in the building, including commercial leases that help keep the buildings afloat.
- Impose a “flip tax” requiring that 30 percent of the profit from an apartment sale be kicked back to the co-op to help its operation. Some buildings currently get 50 percent, and they consider the revenue stream vital to survival.
- For the first time, cap the sale price of all apartments. Under the new regs, the maximum charged for a one-bedroom this year would be $347,636.