what does sponsor unit mean? Also, what are monthly maintenance charges?

Asked by Sixtor2, New York, NY Sun Jul 29, 2012

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This question is about this property: http://www.trulia.com/property/3078379829-67-W-107th-St-9-Ne…

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Veronika Baba, Agent, NY,
Sun Jul 29, 2012
HI Sixtor!
A sponsor is the person or legal entity responsible for developing a new building or converting a building to a co-op, and a sponsor unit is an apartment bought directly from the sponsor, meaning that the purchaser of the sponsor unit is that apartment's first owner.
CC $579, taxes $274. This apartment has an contract signed.
Veronika Baba
Kian Realty NYC
Phone:347 528 5573
1 vote
Christopher…, Agent, Tarrytown, NY
Sun Jul 29, 2012
A sponsor unit is one that is on the market for the first time by the sponsor. These units typically don't need boartd approval for the first sale but will any sale after.

Chris
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