Not since 2009 has the market offered such an attractive entry point for buying a brand-new New York City condo. According to Marketproof research, since peaking in 2018, condo prices have already retreated 20%. Some...
Tag - Offering Plan
Offering Plan Basics: Sponsor Control Period
An important part of a condo offering plan, the document that lays out the terms under which a sponsor can sell you a condo, is the Sponsor Control Period. The Sponsor Control Period is the time, typically in the early...
Offering Plan ‘Accepted’: What happens next?
The condo process begins when a building sponsor’s attorney submits an offering plan to the New York State Attorney General’s office for approval. The AG’s Real Estate Finance Bureau is charged with “governing...
10 Key Documents in the Life of an NYC Condo
NYC condo and co-op buildings have key documents that mark their progression from construction onwards. This is similar to birth and marriage certificates in the life of a person. Marketproof mines all of these real...
A Condo Offering Plan: All You Need to Know
A condo offering plan is a disclosure document that lays out the terms under which a sponsor can sell you a condo (or parking space or storage bin). Attorneys who specialize in this area write offering plans. A small...
