The Real Deal New York

Co-op City turns down Cablevision bulk deal

January 07, 2014 01:25PM

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.

  • noclist

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

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