Following the co-op conversion boom of the 1980’s, New York City has witnessed a swing of the “residential housing pendulum” to new construction condominiums, rather than the conversion of existing housing stock to cooperative ownership.

William Geller

Although many of these newly constructed—often high-end—buildings have been developed by well-known companies, the condominium’s “sponsor” is almost always a single purpose entity that assembles the land, builds the building, issues the offering plan, and sells the units to the buyers.

Robert Braverman

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