New York Condominium Offering-Plan Resale Disclosure Calculator — GBL Article 23-A Waiver and Fee Timing

Compute the right-of-first-refusal waiver-issuance deadline, closing-readiness status, and estimated board-charged fees for a New York condominium resale under the by-laws and the General Business Law (GBL) Article 23-A Martin Act framework supervised by the Attorney General's Real Estate Finance Bureau (13 NYCRR Part 18). New York imposes NO statutory resale-certificate analog — the right-of-first-refusal waiver process and the buyer-application / move-in / damage-deposit fees are governed by the condominium's by-laws. Returns the waiver deadline (contract or request + 30-day typical board period), buffer-to-closing, status, estimated fee total, and a closing-readiness verdict.

Calculator

Adjust the inputs below; the result updates instantly.

Timing

Contract execution date (ISO YYYY-MM-DD)

ISO date the purchase contract was executed by both buyer and seller. Drives the waiver-deadline projection.

Scheduled closing date (ISO YYYY-MM-DD)

ISO date the closing is scheduled. Drives the buffer-to-closing computation and the closing-readiness status.

Waiver / NAL request submission date (ISO YYYY-MM-DD)

ISO date the seller submitted the right-of-first-refusal waiver application (or the no-action-letter request) to the board. Leave blank if not yet submitted. If blank, the calculator projects the waiver deadline as contract + 30 days assuming prompt submission.

Process

Board waiver period (days)

Real Estate Finance Bureau no-action letter requiredTrue if the disposition requires a Real Estate Finance Bureau no-action letter under GBL Article 23-A (typical for sponsor-held units, bulk sales, or amendment-triggering sales). NAL processing typically takes 30-90 days from request to issuance.

Fees

Board waiver fee (dollars)

Buyer application fee (dollars)

Move-in / move-out fee (dollars, each direction)

Refundable damage deposit (dollars)

Reference

Reference date for status countdown (ISO YYYY-MM-DD)

ISO date used as "today" for the status output. Defaults to today if blank.

Verdict

PRE-WAIVER. Contract executed. Submit the right-of-first-refusal waiver application to the board promptly. The board has 30 days under most NYC by-laws to issue the waiver. Projected waiver-issuance deadline 2026-05-01.

Status: PRE-WAIVER — contract executed; waiver not yet requested
Days until waiver deadline: -15
Days between waiver deadline and closing: 45
Effective board waiver period (days): 30
Estimated total board-charged fees: $2,950.00
Summary: New York condominium resale-disclosure and waiver-process analysis under General Business Law (GBL) Article 23-A — the Martin Act, supervised by the Attorney General's Real Estate Finance Bureau (13 NYCRR Part 18). New York imposes NO statutory resale-certificate analog (unlike Connecticut CGS Sec. 47-270's 10-day resale-certificate deadline); the right-of-first-refusal waiver process is governed by the condominium's by-laws. Contract executed 2026-04-01. Scheduled closing 2026-06-15. Waiver not yet requested. Projected deadline 2026-05-01 (contract + 30 days assumed). Submit promptly to preserve closing schedule. Buffer between waiver deadline and closing: 45 day(s). Estimated board-charged fees: waiver fee $500.00 (typical $250-$750); buyer application fee $750.00 (typical $500-$1500); move-in / move-out fee $350.00 each (typical $250-$500); refundable damage deposit $1000.00 (typical $500-$2000). Total $2950.00 (including both directions of move fee). Status: PRE WAIVER REQUEST. Verdict: PRE-WAIVER. Contract executed. Submit the right-of-first-refusal waiver application to the board promptly. The board has 30 days under most NYC by-laws to issue the waiver. Projected waiver-issuance deadline 2026-05-01.

Tools to go with this

Need a right-of-first-refusal waiver application package, a Real Estate Finance Bureau no-action letter request template, or a buyer-application fee schedule?

Fennec Press's New York condominium resale bundle includes the right-of-first-refusal waiver application package aligned to typical NYC by-laws, the Real Estate Finance Bureau no-action letter request template (with the GBL Article 23-A factor analysis and the offering-plan-amendment trigger checklist), the buyer financial-due-diligence application kit, the board fee schedule (waiver + buyer-application + move-in / move-out + damage deposit) with NYC market benchmarks, and the closing-day common-charge payoff letter the title-insurance underwriter will require.

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How this calculator works

This is a closing-readiness validator for a New York condominium resale under the by-laws and the GBL Article 23-A Martin Act framework. Given the contract date, scheduled closing date, waiver request submission date, board waiver period, no-action-letter flag, and a set of typical board-charged fees, it returns:

The WAIVER-ISSUANCE DEADLINE — the by-laws-specified period (typically 30 days) for the board to act on the right-of-first-refusal waiver application.
The DAYS UNTIL DEADLINE and the DAYS BUFFER TO CLOSING — surfacing whether the timing is on-track or at-risk.
The STATUS — pre-contract, pre-waiver-request, within-waiver-window, on-time, tight-timing, closing-at-risk, overdue, or nal-required.
The ESTIMATED TOTAL of board-charged fees — waiver fee, buyer application fee, both directions of move fee, and refundable damage deposit.
A plain-language VERDICT and a multi-line SUMMARY for the closing file.

Use the calculator at contract signing to confirm the timing is feasible; during the board waiver period to track the deadline; and at closing to confirm the fee budget. The calculator does NOT substitute for the title-insurance underwriter's common-charge payoff letter or the by-laws-specific waiver-package requirements — those remain the closing-day deliverables.

The relevant RPL / GBL statute

New York condominium resales are governed by a combination of statute, regulation, and by-laws.

GBL Sec. 352-e — MARTIN ACT OFFERING-PLAN REGISTRATION. The cornerstone of New York condominium regulation. Before condominium units may be offered for sale to the public, the sponsor must file an OFFERING PLAN with the AG's Real Estate Finance Bureau, and the AG must ACCEPT the plan for filing. This applies to original offerings; ordinary owner-to-owner resales do not directly involve the AG.

GBL Sec. 352-eee — COOPERATIVE / CONDOMINIUM CONVERSION PLANS. Specific procedures for residential rental-to-condominium conversions; not typically relevant to ordinary resales.

GBL Sec. 352-h — AG INVESTIGATIVE AUTHORITY. The AG retains broad authority to investigate fraud in the offering and sale of securities, including condominium interests.

13 NYCRR Part 18 — CONDOMINIUM OFFERING-PLAN REGULATIONS. The Real Estate Finance Bureau's implementing regulations for condominium offerings and amendments. Sets the disclosure standards for original offering plans and amendment plans.

RPL Sec. 339-l — LIMITED PRE-CLOSING DISCLOSURE. The New York Condominium Act imposes limited statutory disclosure requirements on the sponsor in the original sale; there is NO STATUTORY ANALOG to a UCIOA resale certificate for ordinary owner-to-owner resales.

RPL Sec. 339-y — BOARD-OF-MANAGERS POWERS. The board has the powers specified in the by-laws, which typically include the right of first refusal / waiver process for resales.

Typical NY condominium by-laws (CNYC / REBNY templates) — The by-laws govern the right-of-first-refusal waiver process, the board waiver period (typically 30 days), the buyer-application fee structure, move-in / move-out fees, and refundable damage deposits.

NY-specific gotchas (judicial foreclosure only, AG offering-plan supervision, no Surfside-style reserve mandate)

NO STATUTORY RESALE CERTIFICATE. Unlike Connecticut (CGS Sec. 47-270 10-day delivery), Florida (FL Stat. Sec. 718.503 estoppel certificate), or California (Cal. Civ. Code Sec. 4525 disclosure documents), New York imposes no statutory resale-certificate analog. The pre-closing disclosure environment is governed by the by-laws and the title-insurance underwriter's diligence requirements. New York buyers and their counsel must do more direct diligence than in UCIOA states.

AG SUPERVISION IS INDIRECT FOR RESALES. The AG's Real Estate Finance Bureau supervises the ORIGINAL offering plan and amendments; ordinary owner-to-owner resales do not directly involve the AG. NALs are only required for special transactions (sponsor units, bulk sales, amendment-triggering sales). For typical resales, the by-laws waiver process is the only board-side step.

THE 30-DAY WAIVER PERIOD IS A BY-LAWS DEFAULT, NOT A STATUTE. Most NYC condominium by-laws specify 30 days for the board to act on a waiver request. Some buildings specify 21 days (faster); some 45 days (slower). Always pull the actual period from the by-laws; do not assume the 30-day default applies.

DEEMED WAIVER ON BOARD INACTION — BUT GET THE LETTER ANYWAY. Most NYC by-laws treat board inaction beyond the waiver period as a deemed waiver. However, title-insurance underwriters typically require a WRITTEN waiver letter at closing — they will not insure title based on a deemed-waiver theory alone. Always demand the written letter.

THE COMMON-CHARGE PAYOFF LETTER IS THE PRACTICAL DISCLOSURE. Title-insurance underwriters require a current common-charge payoff letter from the managing agent or board at closing. This letter is the practical analog to a resale certificate in New York — it confirms the unit takes title free of any common-charge lien under RPL Sec. 339-z. Request the payoff letter 30-45 days before closing and follow up to ensure it is current.

JUDICIAL FORECLOSURE ONLY — UNRELATED BUT MATTERS FOR PAYOFF. New York's exclusively judicial foreclosure framework under RPAPL Article 13 means any unit subject to a long-running lien foreclosure has clouded title that will surface in the title-insurance commitment. The payoff letter must address any pending foreclosure and the buyer's counsel must confirm clearance before closing.

NO SURFSIDE-STYLE RESERVE-MANDATE DISCLOSURE. Unlike Florida (FL Stat. Sec. 718.112 post-Surfside reserve-funding mandates with specific buyer-disclosure requirements), New York imposes no statutory reserve-study disclosure on resale. Reserve adequacy is disclosed only if the by-laws or the offering plan require it. Buyers should request the most recent financial statements and reserve study (if any) from the managing agent.

LOCAL LAW 11 ASSESSMENTS CAN SURPRISE BUYERS. NYC's Local Law 11 (formerly Local Law 10) requires facade inspection and repair every five years for buildings over six stories. The resulting facade-repair special assessments can run tens of thousands of dollars per unit. New York condominium resales should always confirm whether a Local Law 11 cycle is in progress or upcoming. The payoff letter should disclose any pending special assessment; buyers should ask the question even if not disclosed.

What this calculator does NOT model

The calculator implements the WAIVER-TIMING and FEE-TOTAL math under typical NYC by-laws. It does NOT:

Model the title-insurance underwriter's common-charge payoff letter requirements.
Validate the form or content of the right-of-first-refusal waiver application package.
Model the GBL Article 23-A offering-plan amendment-trigger analysis (the threshold for when a sale requires an amendment-plan filing rather than a no-action letter — this is fact-specific and requires counsel).
Model the buyer financial-due-diligence requirements (income, assets, debt-to-income — building-specific and typically opaque to non-residents).
Model the building-specific by-laws variations in waiver-period length, fee structure, or board-discretion provisions.
Model the bankruptcy automatic stay's effect on a pending resale (if either buyer or seller files bankruptcy).
Model the Local Law 11 special-assessment exposure (see the companion reserve-funding calculator for reserve-adequacy analysis).
Validate the offering plan's original disclosure terms (which establish baseline buyer-disclosure rights for any subsequent resale).

For any consequential NYC condominium resale, retain New York real-estate counsel with condominium-transaction experience to oversee the waiver process, the title-insurance underwriter diligence, and the closing-day deliverables.

Sources

Last reviewed: 2026-05-16 against:

GBL Sec. 352-e (Martin Act offering-plan registration).
GBL Sec. 352-eee (cooperative / condominium conversion plans).
GBL Sec. 352-h (AG investigative authority).
13 NYCRR Part 18 (condominium offering-plan regulations).
RPL Sec. 339-l (limited pre-closing disclosure requirements).
RPL Sec. 339-y (board-of-managers powers).
Typical New York condominium by-laws (CNYC and REBNY templates).
Council of New York Cooperatives & Condominiums (CNYC) practitioner materials on resale procedures and board waiver processes.
Real Estate Board of New York (REBNY) practitioner standards for NYC residential condominium transactions.

No. Unlike Connecticut (CGS Sec. 47-270 imposes a 10-day statutory resale-certificate delivery deadline with an 11-item required-content checklist) and other UCIOA-adopting states, New York does NOT have a statutory resale-certificate analog. Pre-closing condominium disclosure in New York is governed by (a) the right-of-first-refusal waiver process under the condominium's by-laws, (b) limited statutory disclosure under RPL Sec. 339-l, (c) the title-insurance underwriter's payoff-letter requirements on common charges, and (d) any specific provisions in the offering plan or by-laws regarding seller-disclosure to buyer. Most NYC condominium resales rely on the title-insurance underwriter's diligence process rather than a formal statutory certificate.

Most New York condominium by-laws grant the board of managers a RIGHT OF FIRST REFUSAL (or more commonly today, a right to WAIVE the right of first refusal) when a unit is sold to a third party. The seller submits the executed contract and a waiver-application package to the board; the board has a specified period (typically 30 days under most NYC by-laws) to either (a) exercise the right of first refusal and purchase the unit at the contract price, or (b) issue a waiver letter permitting the sale to proceed. In practice, boards almost never exercise the right of first refusal (it requires the board to mobilize capital and approve a purchase, which is rare); the standard outcome is a waiver letter. The waiver letter must be in the closing file — title-insurance underwriters require it.

A no-action letter (NAL) from the AG's Real Estate Finance Bureau is typically required for: (a) sales of sponsor-held units in a condominium where the sponsor still owns multiple units; (b) bulk sales of multiple units to a single buyer (typically more than 4-5 units); (c) sales that trigger an offering-plan amendment (e.g., conversion of unsold units to rentals, or material changes in the sponsor's interest); (d) certain transactions in newly-constructed condominiums where the original offering plan is still being implemented. NAL processing typically takes 30-90 days from request to issuance. A standard owner-to-owner resale of a single unit in a stabilized condominium does NOT require a NAL — the by-laws waiver process is the only board-side step.

Most New York City condominium by-laws specify 30 days from receipt of a complete waiver application. Some buildings specify 21 days (faster); some specify 45 days (slower). The clock typically runs from receipt of a COMPLETE application — i.e., the contract plus all supporting documents (financial statements, references, board questionnaire). An incomplete application does not start the clock; the board may request additional documents and reset the period. Sellers should submit complete applications and document the submission date in writing. The calculator defaults to 30 days; override with the building's specific by-laws period if known.

Typical NYC condominium board-charged fees in a resale: WAIVER FEE $250-$750 (some premium buildings charge $1,000+); BUYER APPLICATION FEE $500-$1,500; MOVE-IN FEE $250-$500 and MOVE-OUT FEE $250-$500 (charged separately); REFUNDABLE DAMAGE DEPOSIT $500-$2,000 (held during the move, returned post-move less any documented damage). Total board-charged costs in a typical NYC condominium resale run $1,500-$4,500 plus the refundable deposit. Fees are governed by the by-laws and the board's posted schedule; sellers and buyers should request the schedule from the managing agent at contract signing.

By convention in New York City: the SELLER pays the WAIVER FEE (it is a fee for processing the seller's request to the board for waiver / first-refusal action); the BUYER pays the BUYER APPLICATION FEE (it is a fee for the board's financial-due-diligence review of the buyer). The MOVE-IN FEE and DAMAGE DEPOSIT are paid by the moving party — the buyer for the move-in, the seller for the move-out. Contracts often allocate fees differently than the default convention; review the contract and the building's posted fee schedule to confirm allocation.

Most NYC condominium by-laws treat BOARD INACTION beyond the waiver period as a DEEMED WAIVER — the sale may proceed as if the board had affirmatively issued a waiver letter. However, title-insurance underwriters typically require a WRITTEN waiver letter at closing — they will not insure title based solely on a deemed-waiver theory. Practical advice: demand a written waiver letter even if the period has expired, and have counsel send a follow-up letter to the board citing the deemed-waiver provision of the by-laws. If the board refuses to issue the letter, consult counsel about a declaratory-judgment action or alternative title-insurance arrangements.

UCIOA-state resale certificates (e.g., Connecticut CGS Sec. 47-270) impose a STATUTORY 10-day delivery deadline, an 11-item required-content checklist, and binding-effect rules that protect the buyer from undisclosed claims. New York imposes NONE of these. The New York process is governed by the BY-LAWS (right-of-first-refusal waiver), the OFFERING PLAN (sponsor-side disclosures already accepted by the AG), and the TITLE-INSURANCE UNDERWRITER (common-charge payoff letter). New York buyers and their attorneys do most of the diligence work directly through the title-insurance process rather than relying on a statutory certificate. The result is that NY closings rely more on counsel and underwriter coordination and less on a single statutory document.

The COMMON-CHARGE PAYOFF LETTER is a letter from the managing agent or board confirming the unit's common-charge balance (current charges paid, any arrears, any special assessments, any pending litigation against the unit). The title-insurance underwriter requires the payoff letter at closing to confirm the buyer takes title free of any common-charge lien under RPL Sec. 339-z. The seller's counsel typically requests the payoff letter 30-45 days before closing and follows up to ensure it is current as of the closing date. The payoff letter is NOT a statutory analog to a resale certificate — it is a market-driven document that the title-insurance industry requires.

AG supervision under GBL Article 23-A directly affects ORIGINAL offerings (when the sponsor first markets units to the public) and AMENDMENT-TRIGGERING sales (when material changes in the sponsor's interest or offering-plan terms require an amendment). Ordinary owner-to-owner resales of stabilized condominium units do NOT directly involve the AG — the by-laws waiver process is the only board-side step. The AG's regulatory framework (13 NYCRR Part 18) sets the baseline disclosures in the original offering plan, which means resale buyers can rely on the AG-accepted plan as the principal pre-existing disclosure document. The AG's oversight is therefore indirect for typical resales but foundational for the disclosure environment.

Resources

Links marked sponsoredmay earn The Fennec Lab a commission. They do not affect the calculator's output. See disclosures.

New York State Attorney General — Real Estate Finance Bureau — AG's Real Estate Finance Bureau — offering-plan and amendment-plan supervision under GBL Article 23-A
New York State Senate — GBL Sec. 352-e (Martin Act) — GBL Sec. 352-e — Martin Act condominium offering-plan registration requirement
NYS Department of State — 13 NYCRR Part 18 (Condominium) — 13 NYCRR Part 18 — Condominium offering-plan regulations
Council of New York Cooperatives & Condominiums (CNYC) — CNYC — practitioner reference for New York condominium resale procedures and by-laws