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What is the difference between selling a co-op and a condo in NYC?
The core difference is board authority. Co-op boards can reject buyers without explanation, extending timelines to 90-120 days and requiring exhaustive financial vetting. Condo boards only hold a Right of First Refusal - rarely exercised - so closings happen in 60-90 days with far less friction. This means co-op sellers must prioritize buyer qualification over price, while condo sellers can focus on speed and financing certainty.
From the seller playbook: Co-op vs. Condo Strategic Differences
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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