Sponsor (Co-op/Condo)
The sponsor is the offering party selling units/shares under an offering plan, typically responsible for required disclosures and for delivering what is promised in the offering plan for sponsor sales. AG guidance emphasizes that purchasers should rely on the offering plan and written contract riders, not informal marketing statements.
- Where it applies
- New York State
- When it comes up
- Sponsor marketing → contract → closing
- Property types
- Sponsor sales (co-op/condo)
Read more in the Knowledge Base
- NYC Sponsor and New Development Purchase PlaybookBuyers
- The Offering Plan Audit - Uncovering Sponsor Rights and Building ObligationsBuyers
- Sponsor Sales: Offering-Plan Obligations and Building-Specific RightsSellers
- New Development Resale Strategy in NYCSellers
- Construction Defect Risk in New DevelopmentBuyers
Co-op Governance
- Co-op Board (Board of Directors)
- Cooperative Corporation (Co-op)
- Flip Tax (Co-op Transfer Fee)
- Maintenance (Co-op)
- Offering Plan (Co-op/Condo Sponsor Sales)
- Proprietary Lease
- Real Estate Finance Oversight
- Resale (Co-op/Condo)
- Shares (Co-op)
General information, not legal, tax or financial advice.