The Real Deal New York

Co-op City turns down Cablevision bulk deal

January 07, 2014 01:25PM

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From left: Cablevision's many entities and Co-Op City in the Bronx, photo by Amani Willett

From left: Cablevision’s logo, Co-op City in the Bronx

Residents of Co-op City who recently voted on a too-good-to-be-true deal with Cablevision to cut their cable bills by 75 percent are holding out for another company to offer a better deal.

Some 6,200 of the 55,000 who call the massive Bronx rental complex home voted in a referendum that needed 10,000 votes to pass. But about one-third of those who did show up turned down the proposal, despite the $50 per month it would save them, to avoid risking another five-year contract with the cable conglomerate. 

The deal would have pulled the 15,000-unit Bronx affordable housing community into one big plan and will likely reappear when elections are held for the board of directors in the spring, Daryl Johnson, a board director of Riverbay Corporation, which manages the complex, told the New York Daily News. [NYDN] – Angela Hunt

Correction: A previous version of this article misstated the number of votes against the deal.

  • WannaBeLandlord

    So rather than signing a deal for a 75% discount, they rather wait for what? An 80% discount that may never happen. Makes sense why COOP City mgmt eventually defaults on all their mortgages. Penny wise, dollar foolish.

    • S Howe

      Riverbay is one big ripoff. These buildings are paid for many times over. Besides, the quality of people living here now are next to the lowest there is. We need more people who are middle to upper-middle class, not the ghetto trash that took over Co-Op City. Time for a Civil War!!!

  • noclist

    Coop city? They want free cable. 25% is too much.

  • S Howe

    CABLEVISION IS ONE BIG SCAM! If the buildings are already wired-up, no family should pay more than $25 for all the cable channels. More than that, it’s a rip-off… and anyone who has it, need to cancel. That’s the only way we can screw Cablevision. Cable was never meant to be like this.

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