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  • 1 year ago
What is a NYC Sponsor Apartment

What is a NYC Sponsor Apartment

A sponsor apartment is a unit owned by the original owner or corporation responsible for turning a building from a rental into a co-op. Many rental apartment buildings in New York City were converted to co-ops in the 1980s; at the time of conversion, existing tenants had the option to purchase their unit or continue renting. What are the pros and cons of these units?