Law Sources

You might be interested in reading an article online, Understanding a Condominium Offering Plan. You need a PDF reader such as Adobe Acrobat or MacOSX Preview to read it. The article starts on the lower right of the PDF's first page, and continues on page seven. It focuses on what to look at in the offering plan besides the cost of the apartments.

The Cooperative & Condo Conversion Handbook, published by the New York State Office of the Attorney General, provides basic and general information " to help tenants make informed and intelligent decisions when faced with conversion plans."

See Section 352-eeee of The General Business Law for law pertaining to coop/condo conversion in NYC, including rights of tenants and resonsibilities of sponsor

The Condominium Act of New York State Real Property Law may have useful definitions and other information.

FindLaw has basic information about condos and coops in its home ownership section. Try the following links (you will need to enter our zip code): http://realestate.findlaw.com/homeownership/home-buying/home-buying-condos-faq.html and http://realestate.findlaw.com/homeownership/home-buying/home-buying-condos-overview.html.

Market Sources

Real Estate firm Brown Harris Stevens publishes market reports. A Q4 2005 survey of Manhattan residential real estate prices is available in PDF form. (To view a PDF you need Adobe Acrobat or MacOSX.)

If you register for free at Radcribs and search for 230 Riverside Drive in Manhattan County, you can see basic information about the building, its taxes, schools, crime statistics, and much more. Did you know that according to the NYC Department of Finance, our building was worth $14,800,000 in May, 2004?

You can also find lots of juicy information, including title history, building permits, building ownership data, tax data, Dept of Building actins, ECB violations, HPD violations, demographics, judgment history, etc. by registering for free at Property Shark. Listed in the title history section is a 2 Dec 2004 "Agreement" by Bcre 230 Riverside LLC for $70,000,000, followed by assignment of leases. Let's see...$70,000,000 divided by 268 apartments comes to $261,194 per apartment...hmmm.