What is a Sponsor Unit? - Peter Zinkovetsky

From Avenue Law Firm – What is a Sponsor Unit? breaks down one of Manhattan real estate’s most unique and often misunderstood opportunities. The episode, based on the article What is a Sponsor Unit?, explores how sponsor units offer buyers a way to bypass traditional co-op board approvals while gaining flexibility in both price negotiation and property customization. Whether you're exploring a high-rise in Hudson Yards, a pre-war co-op near Riverside Park, or a condo in Tribeca, understanding sponsor units is essential for success in New York City’s fast-paced market.

Listeners will learn the definition of a sponsor unit — a condo or co-op apartment still owned by the original developer and never sold before. With insights into how these units are created during new developments or retained from historic conversions, the podcast explores how these properties offer streamlined transactions, especially in neighborhoods like Greenwich Village, SoHo, and Carnegie Hill. It also explains how offering plans filed with the New York State Attorney General govern these transactions, and what legal disclosures prospective buyers should review before committing.

The episode highlights the key differences between sponsor units and regular resales — including ownership structure, lack of board approval, and the possibility of flexible down payments or renovation terms. Host Peter Zinkovetsky, Esq., founder and Managing Partner of Avenue Law Firm, provides commentary on how sponsor-held units can affect mortgage approval, particularly when a high percentage of unsold shares are present in a co-op. From subletting rules to closing costs like New York City and State transfer taxes, every financial angle is unpacked with clarity.

Closing the episode, listeners receive practical legal guidance for navigating sponsor unit purchases — whether in a sleek Midtown East condo or a legacy building converted during the 1980s. With Avenue Law Firm’s team of seasoned New York real estate attorneys, buyers can gain a competitive edge and protect their interests in even the most complex transactions. What is a Sponsor Unit? empowers first-time buyers and seasoned investors alike to approach Manhattan’s competitive housing market with knowledge and confidence.

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