Blog | NYC Real Estate Investment Cooperative | New York City Real Estate Investment Cooperative (NYC REIC) leverages the patient investments and political power of members to secure permanently affordable commercial properties in NYC.

Three High-Quality Potential Sites for Investment

From June through September 2015, the Public Building Inventory workgroup searched a database of city-owned properties and narrowed down a list of 84 to 3 very promising potential sites of investment based on factors such as proximity to retail and public transportation, flood zone status, and size and condition of the buildings.

Here are the potential sites:

1) 106 Locust Avenue, Bronx

In Port Morris, a historic ferry gantry and cable shop on desirable waterfront property.

2) 146-39 105th Avenue, Queens

This building is owned by the NYC Department of Health. Nested in a residential area, this is a

Village Voice Covers Our September 28, 2015 Member Meeting

At our September 28th member meeting at The Middle Collegiate Church in East Village, the Village Voice was there, interviewing members Caroline Woolard, Rafael Jose, Drew Kiriazides, and Malaika Martin.

The story also covers the proliferation of groups that have similar objectives: cooperative real estate and permanent affordability.

“The REIC isn’t the only organization in New York working toward cooperative real estate goals. Founded in 1973, the Urban Homesteading Assistance Board has preserved over 1,700 buildings and created 30,000 home-ownership opportunities, while getting to know New York’s low-income co-op community. And in March, the community organizing project Greater Brooklyn formed

We’re Featured At Upworthy!

Our mission to merge community advocacy and real estate investment to preserve permanent affordability is featured today over at Upworthy.

“Historically, New York has served as one of the greatest hotbeds for creativity in the country. It’s where people like legendary musicians David Byrne and Patti Smith became, well, legends. But since that heyday, Byrne and Smith have gone public about how the city’s focus on catering to the wealthy and ever-rising rents — on studio spaces, living spaces, and community space — are closing the door on creativity and culture in New York…

Enter: The NYC Real Estate

Our story told at Crain’s New York

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