Rockland Legislature Passes Co-op Bill; Local Real Estate Broker Calls Bill Unnecessary

Rockland County Legislators voted 16-0 last week for a new law  that would require housing cooperatives to make more timely decisions on a prospective buyer’s application. Legislator Alden Wolfe, an attorney, is the bill’s main sponsor. He said he’s heard plenty of horror stories about co-op boards and their drawn-out process that sometimes causes applicants to lose their new home. During her weekly segment on The Morning Show yesterday, Naomi Streicher of Realty Teams said she thinks the law is unnecessary…

Audio: Naomi Streicher

Streicher says the bigger problem when it comes to co-ops is that applicants get turned down for unknown reasons or reasons that do not make sense. Wolfe said co-op associations currently have no time limit for when a decision must be made. There are about 26-hundred co-ops in Suffern, Spring Valley, Hillcrest, Nyack and Garnerville, varying in size from one to three bedrooms.

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