Offering Plan (Co-op/Condo Sponsor Sales)
NYS Office of the Attorney General explains that sponsor sales of co-op and condo units are made pursuant to an offering plan, and that the Real Estate Finance Bureau reviews offering plans for compliance with regulations and the Martin Act framework. The offering plan includes detailed disclosures about the property and the offering terms, and governs sponsor obligations if a promise is in the plan.
- Where it applies
- New York State
- When it comes up
- Sponsor offering → contract signing → sponsor closing
- Property types
- Co-ops and condos sold by sponsors; conversions and new development
Read more in the Knowledge Base
- The Offering Plan Audit - Uncovering Sponsor Rights and Building ObligationsBuyers
- Sponsor Sales: Offering-Plan Obligations and Building-Specific RightsSellers
- NYC Sponsor and New Development Purchase PlaybookBuyers
- Information Asymmetry - Identifying Market Signals in Opaque Building DataBuyers
- Selling an HDFC Co-op in NYC: Building-Specific Rules FirstSellers
Co-op Governance
- Co-op Board (Board of Directors)
- Cooperative Corporation (Co-op)
- Flip Tax (Co-op Transfer Fee)
- Maintenance (Co-op)
- Proprietary Lease
- Real Estate Finance Oversight
- Resale (Co-op/Condo)
- Shares (Co-op)
- Sponsor (Co-op/Condo)
General information, not legal, tax or financial advice.