A Historic Brooklyn Co-op Turns 50 and Stays Affordable

June 17, 2014 — When you're one of the earliest residential cooperatives in New York City and you've managed to reach your golden anniversary while remaining a bastion of affordable housing, you've got reason to celebrate. Coney Island's historic Amalgamated Warbasse Houses did just that this month with a blowout for its roughly 8,000 people in 2,584 apartments across five buildings. And as the Brooklyn Daily reports, citing co-op board president Michael Silverman, it didn't cost the shareholders a single cent.