Most Manhattan co-op boards require a debt-to-income ratio of 25-30% or below, calculated as total monthly housing costs (mortgage, maintenance, and any other debt service) divided by gross monthly income. Some prestige buildings enforce ratios below 25%. Verify your building's specific threshold with the managing agent before accepting any financed offer - a buyer who qualifies with their lender may still fail at the board level.
From the seller playbook: Board Risk Mitigation Strategy for Co-op Sellers
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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