Overstated measurements in a co-op

Did you not visit the place and use your own eyes and feet?

by how much are they off? If your 18x20ft bedroom is 17.5x19.5, then who cares? If it's 8x10 then that's a big deal but then refer to Huntersburg's question.

I highyly doubt it. I dont think coops legally have to give square footage..isnt everything done by shares ?

Can you get the blueprints for the original building? Past sales records for the same unit?

Yes, the buyer can break the contract, but the seller will keep the deposit.

All measurements are approximate.
Should read: All measurements are exaggerated.

I don't see how any of it matters. Hunters question is the real issue. Did you look at the apartment or have someone look at it for you?

Welcome to the world of real estate. The brokers publish lies about the subject property, collect a price-fixed 6% commission, and get everyone to adopt an industry form purchase contract that exonerates their lies. Take a look at your contract. Somewhere towards the middle there likely is a pragraph titled something like "No Other Representations," by which you expressly agreed that you did not rely on anything the broker said other than what is in the contract. Talk to your lawyer as to whether s/he thinks you can get out of the contract.

You're out of luck on this one. Remember there are different ways of determining square footage. Sometimes the space is counted to the OUTSIDE wall, which effectively ups the total square footage. I have to echo uws beagle and h'burg--did you not visit the unit before bidding? Were you satisfied with the proportions? If so, who cares if it's a foot smaller than you'd originally thought?

Remember, with a co-op you are purchasing shares, which have been predetermined for that particular unit. Square footage does not enter the equation in a sale and the seller is under no obligation to provide you with accurate square footage.

I learned this lesson when went I went to the Edge..The floorplans were based on the exterior of the walls, making the alcove not very usefull in reality compared to the floorplans.

New York real estate purchases operate largely on the principal of caveat emptor: buyer beware. One exception to this principal is fraud. To generalize in the context of a real estate transaction, fraud occurs when the seller makes a false representation of fact that is solely within the seller's "peculiar knowledge", and the buyer reasonably relies on that representation. Courts consistently hold that, absent some special circumstance, representations as to square footage are not solely within the seller's "peculiar knowledge" because the buyer could very easily have measured the square footage himself.

So, unless there is something interesting going on here that you aren't telling us, there is no fraud and you will likely be in breach if you refuse to close.

Where did the floor plan come from? A listing? Was it for some reason attached to the Contract of Sale? Maybe with a bit more information I can give a specific answer.
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Marco Santori is a lawyer in New York City, but he isn't your lawyer, and you should not rely on this post for legal advice. If you have any other questions, feel free to email at MSANTORI@NMLLPLAW.COM