I recently made an offer on a sponsor unit that took a week of back and forth negotiating before being accepted by the developer/owner (via email). During this process, I had been told that other higher-than-asking offers had been made, but that the unit price was already as high as it could legally go, without filing an amendment, and that they'd rather sell it to me now. Unsurprisingly, I have... [more]
I recently made an offer on a sponsor unit that took a week of back and forth negotiating before being accepted by the developer/owner (via email). During this process, I had been told that other higher-than-asking offers had been made, but that the unit price was already as high as it could legally go, without filing an amendment, and that they'd rather sell it to me now.
Unsurprisingly, I have now been told that they wish to file an amendment to increase the price. Since I had nothing in writing, I obviously am at a loss. However, the seller's broker (who wants me to get it), said that developers are only allowed one amendment per project, and that he had already received an amendment for another unit in the building. Therefore, he may not be able to get it amended anyway and I could get the apartment.
What I'm wondering is, if this rings any bells and what law that is under (have been searching), and if I should start making offers on other places. I love this apartment, but it's NYC after all.
Thanks so much!
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