The problem with Mamdani’s tenant takeover plan
I know from personal experience why having tenants take ownership of their buildings isn’t going to work. At least, it isn’t going to work nearly as well as Mayor Zohran Mamdani thinks. Three decades ago I bought a condo unit in Brooklyn and soon became the board’s treasurer. I was determined to keep common charges low for our five owners, who were paying about $300 a month. The first thing I did was stop using the building’s account to order pizza for condo meetings. When our “house man” — actually his two grown sons — began charging an extra $60 […]
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