Republish this content

<h1>This NYC Real Estate Co-Op Helps Small Businesses Stay Put</h1>
<p>Soaring rent prices in New York City are nothing new. And expensive rent means small, local businesses have a difficult time putting down roots.</p>&#13;
<blockquote><span>&nbsp;The co-op combines crowdfunding and a traditional cooperative model.</span></blockquote>&#13;
<p>That's why a group of New York City residents decided to come together to create NYC Real Estate Investment Cooperative. The co-op combines crowdfunding and a traditional cooperative model to guarantee affordable rent for local business owners.</p>&#13;
<p>Anyone can participate in the program. Individuals buy a membership for as little as $10 and the co-op uses that money to buy commercial properties. The properties are selected democratically&mdash;each member gets to vote on which space the co-op buys. Then the cooperative controls who it rents to and how much is charged.</p>&#13;
<p>In the three months since NYC REIC was formed it has gained more than 200 members and generated $1.2 million in pledges.</p>&#13;
<p><iframe frameborder="0" height="281" src="https://player.vimeo.com/video/133045694" width="500"></iframe></p>
<p>This article originally appeared in <a href="https://www.yesmagazine.org">Yes! Magazine</a> at <a href="https://www.yesmagazine.org/democracy/2015/07/31/this-nyc-real-estate-co-op-helps-small-businesses-stay-put">https://www.yesmagazine.org/democracy/2015/07/31/this-nyc-real-estate-co-op-helps-small-businesses-stay-put</a>.</p><link href="https://www.yesmagazine.org/democracy/2015/07/31/this-nyc-real-estate-co-op-helps-small-businesses-stay-put" rel="canonical"/><p>Yes! Magazine is a nonprofit, independent media organization dedicated to telling stories of ... . Learn more at <a href="https://www.yesmagazine.org">Yes! Magazine</a></p><img id="republication-tracker-tool-source" src="https://www.yesmagazine.org/?republication-pixel=true&post=13113&ga4=G-74QJNNY44Z" style="width:1px;height:1px;">
Republish this content

Inspiration in Your Inbox.
