Are mandatory floor prices legal?

Setting legality aside, I think it's actually counterproductive for the Coop. If they let a "low" sale go through it's immediately in the past. But having units unsold lasts and lasts. So if the goal is to preserve value of units this strategy tells the market everything it needs to know about NOT being worth the floor price.

30yrs_RE_20_in_REO That's a good point. Having a unit sit for 6 years makes you wonder about the building.

Also, while everyone knows Real Estate is illiquid, would you buy anything you thought might take you 6 years to unload?

Six years and counting! Yeesh.

Plus the broker periodically delists the property so the "days on market" gets reduced.

And then relists it with a fake apartment number

That strategy does not seem to be working.

Care to elaborate?

Still on the market, yes?

stache,
I thought you were referring to
"And then relists it with a fake apartment number"

This one has not been relisted with a fake apartment number. The same unit number since forever.