A coalition of co-op and condo owners from across the five boroughs has formed Co-ops and Condos United of NY, a grassroots advocacy group representing more than one million New York City homeowners. The group is pushing back on unfunded mandates, rising costs, and city policies that have ignored the unique challenges facing cooperative and condominium housing for years.
Why Did Over a Million Homeowners Organize?
Co-op and condo owners make up roughly half of all homeowners in New York City. Unlike owners of single-family or multi-family homes, they share financial responsibility for their buildings, which means city policy hits them collectively and often harder. When the city passes new environmental mandates, raises water and sewer rates, or changes property tax assessments, co-op and condo boards absorb those costs and pass them along as maintenance increases to every unit owner.
The breaking point was Local Law 97, the city’s carbon emissions law that requires large buildings to meet strict emissions caps starting in 2024, with penalties for noncompliance. For many co-op and condo buildings, meeting these caps requires expensive boiler conversions, window replacements, and insulation upgrades that can cost millions of dollars per building. Those costs land directly on unit owners through special assessments and maintenance hikes.
What Is Local Law 97 Costing Co-op and Condo Owners?
The estimates vary widely depending on building size and current systems, but many co-op boards are projecting compliance costs in the range of $10,000 to $50,000 per unit over the next decade. For a typical co-op owner in Brooklyn or Staten Island, that is a significant hit on top of already rising maintenance fees, property taxes, and insurance premiums.
The coalition argues that the city passed this mandate without providing adequate funding, tax incentives, or technical support for the roughly 10,000 co-op and condo buildings that need to comply. Large commercial landlords have teams of engineers and access to green financing. Co-op boards are run by volunteer residents who often have no experience managing multi-million dollar capital projects.
What Else Is the Coalition Fighting For?
Beyond Local Law 97, Co-ops and Condos United is pushing back on several fronts. Rising property tax assessments have been a long-standing problem for co-op and condo owners, who are often assessed at higher effective rates than owners of one-to-three family homes. The group is also advocating for better representation in city budget discussions, where co-op and condo issues have historically been overlooked in favor of renter-focused policy.
Water and sewer costs have also been a major issue. NYC water rates have increased dramatically over the past decade, and co-op and condo buildings pay based on total building usage, which means individual unit owners have little control over their share of the bill.
What This Means for Staten Island and Brooklyn Owners
If you own a co-op or condo on Staten Island or in Brooklyn, this coalition directly represents your interests. Staten Island has a growing number of condo developments, and many are in buildings large enough to be subject to Local Law 97. Brooklyn has one of the highest concentrations of co-op housing in the city, particularly in neighborhoods like Bay Ridge, Park Slope, Windsor Terrace, and Sunset Park.
The formation of this group is a positive sign. It means co-op and condo owners finally have organized political representation pushing for tax relief, compliance funding, and policy reforms that account for the reality of shared-ownership housing.
For single-family homeowners, this matters too. When co-op and condo costs rise sharply, it pushes more buyers toward single-family homes, which drives up prices and competition in neighborhoods where detached housing is already limited.
Watch the Full Episode
Joseph Ranola covers the full story of Co-ops and Condos United in today’s Daily Tesla News, including what Local Law 97 actually requires, how much it could cost your building, and what the coalition is demanding from city officials. Watch on YouTube or browse all episodes at ranolarealestate.com/daily-tesla-news.
About Joseph Ranola
Joseph Ranola is a licensed real estate agent with The Bridge and Boro Team at Real Broker, serving Staten Island and Brooklyn. Whether you are buying a co-op, selling a condo, or navigating the complexities of NYC’s housing policies, Joseph is the agent who breaks it all down in plain English. With over 70+ five-star Google reviews, Joseph has built a reputation as the go-to real estate resource for New Yorkers who want straight answers, not sales pitches.
Own a co-op or condo and have questions about how policy changes affect your investment? Talk to Joseph or call (917) 905-2541.
