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Appraisers practicing in markets where co-ops are found can use Cooperative Apartment Appraisal to develop an understanding of the advantages and disadvantages of this atypical form of ownership. Whether the assignment involves the valuation of a single co-op unit, an existing or proposed project, or a failed co-op development, the considerations and methodology described in this new text will prepare the appraiser for the task.

 

In addition to descriptive material on the creation and operation of cooperatives, the authors provide useful definitions and specific instructions on how to handle co-op appraisals. A brief history of cooperative ownership gives readers insight into the success and failure of various affordable and luxury co-op projects, financing considerations that have contributed to their development, and the likely future of cooperative housing in the United States.

 

About the Authors
Eleanor Gunn, MAI, is the author of The Co-op Appraisal Handbook. She has spent 20 years as a commercial appraiser in the tri-state New York metro area and throughout the Northeast. Over the years she developed ways to perform investment value appraisals for subsidized housing and for projects built with low income housing tax credits. She can be reached at: elgunn@magma.com

 

John Simpson, MAI, CCIM, MBA, is the CEO of Commercialappraisal.com, a nationwide appraisal and environmental site assessment firm headquartered in Arnold, Maryland. He has been appraising for 13 years and specializes in portfolio valuations and marina appraisals in the continental United States. He can be reached by mail:1290 Bay Dale Drive, Suite 330 Arnold, MD 21012 by phone: (410) 431-5310, Extension 302 or by fax: (410) 544-1207 or by email: john@commercialappraisal.com