conversion to co-op with no approval docs/permits

Check with the board that they will allow you to convert back to 3 bedroom subject to DOB approval, for which you should consult an architect. Some coops will even let you do it without DOB approval. It should be easy if many other apartments in the same line are still 3 legal bed rooms. Or you can ask the current owner to get you approvals as a condition for closing.

I would like to keep it as a 2 bed but am concerned that i would have to convert back to 3 bed since it seems the conversion was done without permits.

I would just a letter from the managing agent that current configuration of 2 bed room is fine. The seller can easily get you that. DOB is not going to bother you as they likely have no records of the original floor plan.

I would just GET

Might get tricky to sell with this cloud hovering over it.

It is a very minor issue as you are reducing the number of bedrooms rather than increasing.

It's interesting how casually it is accepted that board members routinely go around rules.

You can tell the seller to have the renovations approved by the board as part of the sale approval. The DOB is a different and lesser issue. There are tens of thousands of renovations done without DOB permits. Taking down some interior walls is a small deviation. Assuming that there were no plumbing, gas, HVAC, etc. moved or added, and the bedrooms are still legal rooms, you can ignore the DOB issue, or you can seek post-construction approvals at a higher costs and aggravation. I assume that there was electric moved or added, so the walls likely would need to be opened for an electric inspection to get DOB approvals.

nyc_sport, those pain in the ass buildings won't take your renovation application until you closed. and never seen one honoring previous owner's application