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Should officials in discussion with the cooperative community decide on a method based on the gross sales value of the building, rather than the current comparison to the income of a similar rental building, the inclusion of even more regulated tenancies, and thus a lower gross sell-out value, will cause millions of dollars to vanish from the co-op and condo tax base, which comprises around $30 billion of the city's total market valuation. This project is the first phase of a total 76-home project, with a combined gross sales value of $11 million. This project is the first phase of a total 76-home project, with a combined gross sales value of $11 million. |
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