Market Rate and Affordable Mixed Co-op Allocation

I'm not aware of buildings with market and affordable rate units for sale. Brand new construction with both are rental. Existing building with both that convert to condo or co-op usually have a non-eviction plan so that rent controlled and stabilized tenants are permitted to stay if they choose not to buy.

For the rent stabilized/controlled units in a building that has units for sale, the sponsor would be responsible for the maintenance based on whatever allocation was determined at conversion.

This has a better explanation: http://therealdeal.com/blog/2014/02/28/extell-plans-hudson-square-project-with-affordable-housing/

The general idea is that the market-rate cooperators don't subsidize the affordable-rate renters ... instead, the tax breaks and higher-floor taller-building allowance made possible by having affordable rental units wind up subsidizing the market-rate cooperators.

REMom's explanation might be how it works technically for this Hudson Square new-construction building, with the sponsor paying maintenance for each affordable rental unit.

All of which is the only explanation I can think of for it being a cooperative and not a condominium. Unless it's a landlease.

Trinity Chuch, or the Episcopal Diocese of New York, or something like that, owns massive amounts of land in that area, so landlease might indeed be what's happened. Although I'd think it would be widely reported. I'm too lazy to look. NWT?

Right, it's a land lease, but the landlord isn't the diocese. It's an LLC whose care-of person is a member of the family that's owned it since at least 1966. She lives in Lincoln Towers.

The lease is for 157 years, ending in 2163.