Sponsor units in a COOP

(1) An ad for a coop sale by sponsor will typically say "no board approval required." Many also say sponsor sale--there's no point in it being a secret. Usually if you just ask, they'll tell you.
(2) I have no idea, but why do you care? I can't think of a reason it matters.

It would likely be mentioned somewhere in the coop's offering plan.

Thanks, Kylewest. But, if you're curious whether there any more sponsor units left in the building, is there source to find out how to contact the sponsor?

The broker will either know the percent of shares held by the sponsor, or can get it from the managing agent. That percent will also be in the financials, so the owner and broker should know.

The offering plan has details about the sponsor's principals. If the sponsor still owns shares (maybe if above some percentage) then it has to file yearly amendments to the offering plan. Those amendments will also specify how many shares the sponsor holds. The owner or broker can get those from the managing agent, or you can get them yourself from the NYS Attorney General.

The managing agent.

Or, to track down the sponsor, check for odd-amount sales here or on ACRIS. The odd dollars are usually taxes paid by the seller when buying from a sponsor, so it's easy to spot the sales. We now have eight years of public-record co-op sales, and almost any co-op where the sponsor still owns shares will have had a sale in that time.

Oops, make that "paid by the buyer when buying from a sponsor."

Thanks for the rapid and helpful responses. It is gratefully appreciated.

You can also stop by and ask the doorman as a place to start. He can be a wealth of information.

Tell me the address, and I'll figure it out for you.

Thanks for your generous offer, nyc10023. Would you mind sending me a private email address at "mackimer@ymail.com" ?

nyc1123- may I ask the same, regarding finding out a sponsor's name? Would be greatly appreciated.

Thank you.