Who is responsible for approving the offering plan of a condominium or cooperative conversion?
A city, county, or city and county acting pursuant to this section shall approve or disapprove the conversion of an existing building to a stock cooperative within 120 days following receipt of a completed application for approval of such conversion.
What is an example of a Condop?
The Forum at 343 East 74th Street is an example of a condop in New York City, New York, where the co-op corporation owns the residential portion of the building and the developer owns the retail space.
Do you need a lawyer to buy a coop in NYC?
The right mortgage broker can help you determine the right amount you are able to spend and find financing options that are best for your needs. A Lawyer: If you are buying a co-op in NYC, an NY co-op attorney is an essential part of your co-op buying team.