New York Condo & HOA Guide
Key condo laws, HOA regulations, and reserve study requirements for New York (NY). Understanding your state's specific rules is essential because they override or supplement your CC&Rs in many situations.
Governing Law
New York Real Property Law (Article 9-B) and Martin Act
Key Provisions
- Offering plan (prospectus) required for new condo developments
- Attorney General oversight of new condo offerings
- Board approval required for most sales (co-ops and many condos)
- Financial disclosure requirements for buyers
- Right to review HOA financials before purchase
Reserve Study Requirements
No statewide mandate for reserve studies. New developments must include capital budget projections in the offering plan.
Notable Rules & Considerations
- Co-ops are more common than condos in NYC (distinct legal structure)
- Flip taxes common in many buildings
- Strong tenant protection laws affect condo rental restrictions
- Local Law 11 requires facade inspections every 5 years for buildings 6+ stories
Important: This is a general overview of New York condo laws and is not legal advice. State laws change frequently. Always consult a New York-licensed attorney for specific legal questions about your HOA or condo association.
Related Guides
Other State Guides
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