Licensed Real Estate Associate Broker
681 Lexington Avenue
New York, NY 10022
Phone 212-688-8530 x223 Cell 917-991-2528 Fax 212-758-7495
You'll need a good real estate attorney and you'll need a good broker who can locate a property where this can happen. I've accomplished this previously and would be happy to help. I can be reached at 917-517-8572 or email@example.com.
Krystyna Rachtan, Licensed Real Estate Broker
Phone (917) 204-9622
NEW YORK HOME REAL ESTATE SERVICES, INC.
295 Madison Avenue, New York, NY 10017
When you buy a sponsor unit, it will no longer be a sponsor unit. Once a sponsor unit is sold for the first time, it becomes a resale for the next one buying it. As a sponsor unit owner, the first privilege you will have is not to have a board interview. The second one, and it depends on the sponsor, is the privilege to lease the unit as you wish. In many cases, you will get the sponsor unit at a lower price than the other resale price in the same building. Many sponsor units, will not be renovated and you get to renovate them at your own pace and at your taste. On the other hand, when you buy a sponsor unit, you may have to cover the closing cost of the sponsor. And sometimes not always, the lender, will want to make sure that the sponsor sold at least 51% of the total units in the building in order for you to borrow.
VP Associate Broker