Does the law cover co-ops and condos?
Short answer§ 27-2030
Yes. For each apartment, the law treats the co-op shareholder or condo unit owner as the owner.
- CondosThe owner of a condo apartment is the person who owns the unit.
- Co-opsThe owner of a co-op apartment is the shareholder of record on the proprietary lease.
- When it appliesThe cooling rule works through tenant elections, so it matters when the apartment has a tenant.
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