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Daily News, New York, real estate column.
Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News) Publication Date: 19-SEP-05 |
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COPYRIGHT 2005 Daily News
Byline: Lore Croghan
Sep. 19--James McCarthy is 70 years old and afraid to retire.
The board of his Bronx co-op wants to pull the building out of the Mitchell-Lama program -- which would jack up his maintenance charges from an affordable $600 per month.
A recent residents' vote about whether Orloff Towers should quit the affordable-housing program for middle-income New Yorkers didn't go the board's way. But the board's looking to try again in six months.
"I don't know what's going to happen -- that's what tortures me," said McCarthy, who was wait-listed for 10 years before he got to buy co-op shares for $16,000, and secure a home for himself, his wife and his sister.
That was 16 years ago. Now, he said, "I feel like we have something special -- and somebody's trying to take...
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