NYC board packages, answered

To buy into an NYC co-op, and many condos, the buyer submits a board package to the building's managing agent and board. It holds the building's application forms plus tax returns, bank and brokerage statements, employment letters, reference letters and more, ordered and assembled exactly the way that building requires.

The building's managing agent first checks that it's complete. Then the board reviews it and decides. Many co-op boards also meet the buyers in an interview before deciding. For a condo, the board decides whether to waive its right of first refusal.

In a co-op, you buy shares in the corporation that owns the building, and the shares come with a proprietary lease for your apartment. Shareholders pay the building's costs together through monthly maintenance, so the board looks closely at each buyer's finances before approving them.

Usually, yes, for a resale, though it's often lighter. A condo buyer owns the apartment itself, not shares. The condo board usually has a right of first refusal on a sale, and the package asks the board to waive it. Buying from the sponsor in a new development often works differently.

The building's application and forms, the signed contract of sale, a signed financial statement, tax returns (usually the last two years), W-2s and 1099s, recent pay stubs, an employment letter, bank, brokerage and retirement statements, and reference letters. Financing, a guarantor or self-employment add more. Every building sets its own list, so follow its application. The free NYC Board Package Tips and Checklist has the full list.

A standard form from the Real Estate Board of New York that many NYC buildings use to show a buyer's assets, liabilities, income and expenses. Some buildings have their own form instead. If yours does, use it.

Usually two or three personal references from people who aren't related to you, and one or two professional references. Your building's application may ask for a different number.

It should be on company letterhead, signed and recent, and state your title, start date and compensation, including any bonus, with a contact who can confirm it.

Expect to add a letter from your accountant about your income and how long you've been self-employed, plus any business tax returns and K-1s for businesses you own. Some buildings also ask for a year-to-date profit and loss statement.

Check the building's rules first: some co-ops limit or don't accept gifted funds, and lenders have their own rules. Then explain it up front: add a gift letter signed by the giver, stating the amount and that it doesn't have to be repaid, and a short note about any large deposit in your statements, so the board doesn't have to ask.

Usually a few weeks. Much of that time is waiting on employers, references, accountants and lenders, so start the day your offer is accepted.

Usually, yes. The contract of sale often sets a date for submitting the board application, and if you're financing, the financing contingency usually sets one for the mortgage commitment. Ask your attorney for both dates.

Common reasons are missing pages, unsigned or undated forms, blank questions, numbers that don't match across documents, and statements that are out of date. A careful review before submitting helps catch them.

A short meeting where the board, or a committee of it, meets the buyers before deciding. Questions often come from the package, so re-read it first, arrive on time, and answer briefly and honestly.

A platform for putting together a complete board package for any NYC co-op or condo, starting from the building's own paper application. Every package comes with a transaction coordinator to oversee it. It launches in January 2027.

No. That's the point. If the building has a paper application, you can put together its board package with us. The building and its managing agent don't need to sign up for anything.

An experienced transaction coordinator on our in-house team. They look over every package and send you notes for success, so you can fix anything before it goes to the managing agent.

One combined PDF. Pages are ordered, numbered and bookmarked the way the building's application asks. E-signatures are built in.

Whoever does the work: agents putting together packages with their buyers, transaction coordinators at any brokerage, buyers and sellers doing their own, and buildings or managing agents who want to work with us directly.

The public launch is January 2027. The Insider List gets launch updates by email.

Yes. The free NYC Board Package Tips and Checklist has practical tips for every stage of a board package, and every document a typical co-op asks for.

No. We never sell your information. Not documents, not contact details, not to anyone.