The NYC REIC story is told in Crain’s New York. The article discusses some of our organization’s inspirations including the Cooper Square Committee in East Village and Sure We Can in Bushwick in the battle to preserve affordable commercial space for small businesses and arts organizations.
“By forming the NYC Real Estate Investment Cooperative, about 200 New Yorkers from diverse neighborhoods, professions, ethnicities and tax brackets hope to invest jointly in commercial property in areas where rents are rising rapidly, carving out permanently affordable space for community-based small businesses and cultural organizations…it would likely be the first of its kind in New York City: a real estate co-op that would invest in commercial property in order to preserve space for small businesses, as well as social-service and arts organizations.”
Read the full article here.