Cooperatives

Purchasers of a Cooperative buy shares in the apartment corporation allocated to a particular apartment. Ownership of the shares entitles the purchaser to a long term proprietary lease for the apartment. Maintenance charges are based upon the number of shares in the corporation allocated to an apartment.

Tenants

A sponsor who submits an offering plan to convert a rental building to a condominium or into cooperative ownership is required to simultaneously provide a copy of this "red herring" or initial draft of the plan to all tenants of record.

If you think a plan may have been submitted to convert your building or you wish to comment on a plan that has been submitted, call REF's Public Information line at 212-416-8123 to find out the file no. and date of submission. You may address any comments regarding the offering plan to the assigned review attorney in writing.

If you are a rent-stabilized tenant in a building that either is going through a conversion or is already a condo or coop and you have issues regarding your landlord or the conditions in your apartment, contact DHCR.

If you are a rent-controlled tenant in a building that either is going through a conversion or is already a condo or coop and you have issues regarding your landlord or the conditions in your apartment, contact DHCR.

If you are a market-rate tenant in a building that is going through a conversion to a condo or coop with a lease that has or is about to expire and you have questions, you may wish to consult a private attorney. You may obtain a list of private attorneys on the New York State Bar Association’s website.

Other Tenant Resources