ARCHIVE SEARCH RESULTS

A condo in downtown Manhattan managed to avoid litigation with the sponsor by working with them to address mechanical issues, including HVAC and water pumps, and setting expectations for the mechanical systems. (Print: Sponsor Defects: Talking It Out)

Allocating expenses to commercial units in a condo can get tricky when the sponsor is involved.

Settling what expenses belong to a sponsor and what belong to the new co-op can be daunting.

Sublets and sponsors can stop a sale in its tracks.

The answer is complicated and depends on your governing documents.

Buying sponsor apartments pays off for Birchwood House.

You hear a lot of horror stories about physical defects in newly constructed condos, but not so much about boards taking over from sponsors and then discovering irregularities.

Corporate documents will spell out if a sponsor can hold on to rental units or is required to sell them to independent purchasers.

It’s up to new owners to read the fine print.

Give him the boot.