Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Eva Talel and Richard SieglerEva Talel and Richard Siegler ()

A frequently asked question by boards and co-op apartment owners is whether a co-op corporation can be converted to a condominium. While this question has likely been asked since 1964, when New York adopted a Condominium Act1 permitting condominium entities to be created, it is now being asked with greater urgency—as the condominium form of development and ownership has become more prevalent in New York and co-op apartment owners perceive significant benefits to be had from condominium versus co-op ownership. These perceived benefits include: enhanced apartment values (as much as 20 percent, based on empirical studies2); and greater flexibility in transfers, leasing and apartment financing (which in most condominiums, unlike in co-ops, requires no board approval).

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.