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Co-op City Conundrum

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The Bronx's Co-op City is on the verge of getting a $600 million low-interest mortgage that would keep the complex in the Mitchell-Lama program for years to come. The co-op's management company is in favor of the loan, since it would lower interest payments by a hefty $4 million/year, but there's also a vocal privatization contingent who'd like to keep open the option to leave Mitchell-Lama. Is the Bronx real estate market hot enough to support non-income-restricted pricing for these apartments? [WSJ; previously]