🔔 BIG NEWS

FOR NYC CO-OP BUYERS & SELLERS

Co-op boards now have a deadline.

A new New York City law requires co-op boards to:

• ✅ Acknowledge a completed application within 15 days

• ⏱️ Approve or deny the application within 45 days

No more endless waiting. No more “radio silence.”

🏡 WHY THIS MATTERS

For Buyers

• Clear expectations

• Less uncertainty

• Faster paths to closing

For Sellers

• Reduced deal delays

• Stronger buyer confidence

• Fewer contracts falling apart from long board waits

For Everyone

• More transparency

• More accountability

• More sanity (finally)

👩‍💼 WHAT THIS MEANS WHEN YOU WORK WITH ME

As a Staten Island Associate Broker who regularly handles co-op transactions, I:

• Track timelines closely

• Confirm when applications are officially deemed complete

• Hold boards accountable to the law

• Help buyers and sellers plan realistically—and strategically

In other words: no guesswork, no surprises.

📍 IMPORTANT TO KNOW

✔ Applies to NYC co-ops with 10+ units
✔ The 45-day clock starts after the application is confirmed complete
✔ Designed to prevent indefinite delays