The Renaissance Cooperative

The building has an underlying mortgage which all of the shareholders help to pay off through their maintenance. The good news is that when you look at any listings for the Renaissance, you'll see that they always say that maintenance is 56% tax-deductible. Normally, none of your maintenance is tax-deductible, but mortgage payments are, so the underlying mortgage portion of the maintenance is tax-deductible, so you can think of getting some of your money back through taxes.

Also, it is my understanding that none of the rent roll from the storefront retail goes to the co-op...it all goes to the developer.

some portion of Maintenance is usually TD--specifically the part that goes toward interest on the underlying Mortgage and then there is the portion of maintenance that is allocated to property taxes, no?

Yes, that's what I meant - the portion of the maintenance going to the underlying mortgage is the part that's tax-deductible, but every property doesn't have an underlying mortgage, of course.