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Compiled text through Jan 15, 2026Register checked through July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)

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13 NYCRR 19.1 - General provisions

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Dates and status

Compiling agency: Department of Law
Text status: Westlaw Inline Boundary Correction
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)Chapter 82 of the Laws of 1964, as amended, when referred to in this Part and in all regulations issued by the Attorney General, shall be referred to as the New York Condominium Act.

(b)This Part shall be applicable to offering statements and “offering plans” required by section 352-e of the General Business Law (G.B.L.) for condominiums, other than offering plans for new or vacant buildings which are subject to Part 20 of this Subchapter. The offering statement or “offering plan” required by section 352-e of the General Business Law (G.B.L.) shall be submitted in bound booklet form to the Real Estate Financing Bureau, Department of Law, 28 Liberty Street, New York, NY 10005. The offering plan may be submitted for filing (hereinafter sometimes referred to as “final filing”) or submitted pursuant to the optional prefiling procedure described in section 19.3 of this Part. All offering plans submitted to the Department of Law shall be deemed submitted pursuant to the optional prefiling procedure described in section 19.3 of this Part unless the sponsor or the attorney for the sponsor specifically notifies the Department of Law in writing concurrently with such submission of the sponsor's election to submit for final filing.

(c)An offering plan must, at a minimum:

(1)contain in detail the terms of the transaction and be complete, current and accurate;

(2)afford potential investors, purchasers and participants an adequate basis upon which to found their judgment;

(3)not omit any material fact;

(4)not contain any untrue statement of a material fact;

(5)not contain any fraud, deception, concealment, suppression, false pretense or fictitious or pretended purchase or sale;

(6)not contain any promise or representation as to the future which is beyond reasonable expectation or unwarranted by existing circumstances;

(7)not contain any representation or statement which is false, where the sponsor or the person who made such representation or statement:

(i)knew the truth;

(ii)with reasonable effort could have known the truth;

(iii)made no reasonable effort to ascertain the truth; or

(iv)did not have knowledge concerning the representation or statement made.

(d)As used in this Part, the word sponsor(s) or promoter(s) means any person, partnership, joint venture, corporation, company, trust or other entity or any agent or employee thereof who makes or takes part in a public offering or sale in or from the State of New York of cooperative interests in realty that shall include property submitted to the provisions of the New York Condominium Act.

(e)If the offering plan is submitted for final filing pursuant to General Business Law section 352-e(2), the submission must include six copies of the bound offering plan and two copies of the exhibits described in section 19.2(c) of this Part.

(f)On the date the offering plan is submitted to the Department of Law for final filing, sponsor shall serve each offeree, as defined in subdivision (g) of this section, of any occupied building with a copy of the offering plan together with the following notice. This notice shall not apply to offering plans that have completed the prefiling procedure set forth in section 19.3 of this Part.

Date of Notice: __

We have submitted to the Department of Law of the State of New York, Real Estate Financing Bureau, an offering plan for the conversion of [insert address and name of building, if any] to a condominium. The law requires us to disclose all material information concerning the building and the conversion process in an offering plan. A copy of the offering plan is enclosed for you to retain. Additional copies of the offering plan are available for inspection and copying at the office of sponsor (or sponsor's selling agent) located at [insert name and address of sponsor or sponsor's selling agent] and the Department of Law.

The Attorney General strongly urges you to read this offering plan carefully and to consult with an attorney to advise you as to the meaning and consequences of this plan.

We have submitted the offering plan to the Department of Law under section 352-e of the General Business Law. That law requires that the Department of Law, within not less than 120 days or more than 180 days from the date of submission of the offering plan, must either file the offering plan or indicate how the offering plan is deficient.

No apartments may be sold or offered for sale, no purchase agreements may be executed, and no down payments may be accepted unless and until the Department of Law files the offering plan and a copy of the final plan is served on each tenant.

(g)Unless otherwise provided by statute or regulation, any documents required to be served by this Part shall be served on tenants, purchasers who have executed and delivered purchase agreements to the sponsor and who are not in default, owners and any other person entitled to service pursuant to local law or regulation (collectively, “offerees”) in the following manner:

(1)personal delivery; or

(2)mailing by regular or registered or certified mail, with or without return receipt requested, addressed to the offeree at the building or group of buildings or development (“building”) being converted. If such building is not the place of residence of such offeree and sponsor has written information of the residence address of such offeree, the mailing shall be addressed to such last residence address. If sponsor has no such information but has written information of the place of business or employment of such offeree, the mailing shall be addressed to such last business or employment address.

Service shall be complete upon completion of personal delivery on all offerees or three days after mailing to all offerees not personally served.

(h)After submission of the offering plan for final filing, the Department of Law shall issue a letter to the sponsor or sponsor's attorney stating that the plan is filed, or indicating deficiencies. The Department of Law shall issue such a letter for a final offering plan submitted for a building occupied in whole or in part for residential purposes no sooner than 120 days and no later than 180 days after the date of submission of the final offering plan. For all other buildings, the Department of Law shall issue such a letter not later than 30 days after the date of submission of the final offering plan. The Department of Law may issue a deficiency letter whenever it appears that the department cannot make any finding mandated by law or the offering plan is deficient in one or more respects.

(i)Offering literature and advertising to be employed in connection with the offering may accompany the submission for filing.

(j)Unless otherwise provided by regulation, documents filed with the Department of Law to supplement or amend an offering plan previously filed and new or amended literature to be employed in connection with an offering shall be deemed part of the offering statement, shall be signed by the sponsor and shall be accompanied by one executed copy of form CD-2 issued by the Attorney General with the appropriate filing fees. Such form, together with three copies of the supplemental, amended, or new literature shall be submitted for filing with the Department of Law and shall not be used in the offering or sale unless and until filed.

(k)If any offering is abandoned or not consummated for any reason, the sponsor shall file two executed copies of form CD-3 issued by the Attorney General within 48 hours after such abandonment. Form CD-3 requires an explanation of the disposition of the funds raised, as well as an explanation for the failure to consummate the transaction.

(l)Unless expressly provided herein, nothing contained in this Part shall be construed as limiting the requirements of disclosure set forth in article 23-A of the General Business Law.

(m)The offering plan in bound booklet form shall be delivered to prospective purchasers at least three business days before a purchase agreement is mailed or delivered to them.

(n)Within three business days following completion of service on all offerees, as defined in subdivision (g) of this section, of:

(1)a draft offering plan pursuant to the optional prefiling procedure set forth in section 19.3 of this Part; or

(2)an offering plan submitted for final filing, sponsor shall establish by proof satisfactory to the Department of Law that there were no excessive long-term vacancies if General Business Law section 352-eee (2)(h) or 352-eeee (3)(a) is applicable (see e.g., section 19.2 [c][2][xi]), and that each offeree was served with a copy of the offering plan and with the notice required by subdivision (f) of this section or section 19.3 (b) of this Part, whichever is applicable.

(o)All offering plans submitted to the Department of Law for prefiling or final filing shall:

(1)Be accompanied by a transmittal letter addressed to the Department of Law, that is signed and affirmed by the attorney who prepared the offering plan, and containing the following unqualified statements:

I/We am/are the attorney for [insert name of sponsor], the sponsor of the offering to convert the captioned property to a condominium. Enclosed for filing pursuant to 13 NYCRR Part 19 are copies of the offering plan together with two copies of the exhibits (including filing fees).

I/We am/are fully familiar with the provisions of article 23-A of the General Business Law, the New York Condominium Act, regulations promulgated by the Attorney General in 13 NYCRR Part 19.

I/We prepared the attached offering plan and exhibits based on information from the sponsor. I/We have read all the printed copy submitted to the Department of Law but expressly disclaim any responsibility to have made an independent inspection of the property or investigation of the information furnished to me/us by the sponsor.

I/We have no actual knowledge of a violation of article 23-A of the General Business Law, or 13 NYCRR Part 19 promulgated by the Department of Law, nor do I/we know of any material fact omitted or any untrue statement of a material fact included in the offering plan.

(2)Include in the body of the plan and in the exhibits a certification subscribed and sworn to by the sponsor and sponsor's principals, in the following form. (For purposes of this Part, unless otherwise noted, principals means all individual sponsors; all general partners of sponsors that are partnerships; all officers, directors and shareholders of a corporate sponsor that are actively involved in the planning and consummation of the offering; and all other individuals who both own an interest in or control sponsor and actively participate in the planning and consummation of the offering, regardless of the form of organization of sponsor.)

We are the sponsor and the principals of sponsor of the offering to convert this property to a condominium.

We understand that we have primary responsibility for compliance with the provisions of article 23-A of the General Business Law, the New York Condominium Act, the regulations promulgated by the Attorney General in 13 NYCRR Part 19, and such other laws and regulations as may be applicable.

We have read the entire offering plan. We have investigated the facts set forth in the offering plan and the underlying facts. We have exercised due diligence to form a basis for making this certification. We jointly and severally certify that the offering plan does, and that all documents submitted hereafter by us which amend or supplement the offering plan will:

(1)set forth the detailed terms of the transaction and be complete, current and accurate;

(2)afford potential investors, purchasers and participants an adequate basis upon which to found their judgment;

(3)not omit any material fact;

(4)not contain any untrue statement of a material fact;

(5)not contain any fraud, deception, concealment, suppression, false pretense or fictitious or pretended purchase or sale;

(6)not contain any promise or representation as to the future which is beyond reasonable expectation or unwarranted by existing circumstances;

(7)not contain any representation or statement which is false, where I/we:

(i)knew the truth;

(ii)with reasonable effort could have known the truth;

(iii)made no reasonable effort to ascertain the truth; or

(iv)did not have knowledge concerning the representation or statement made.

This certification is made under penalty of perjury for the benefit of all persons to whom this offer is made. We understand that violations are subject to the civil and criminal penalties of the General Business Law and Penal Law.

(3)Include in the body of the plan and in the exhibits a certification subscribed and sworn to by sponsor's engineer or architect (who must either be registered as an architect in New York State or be licensed to practice as a professional engineer in New York State) in the following form:

The undersigned, (an architect registered in New York State) or (an engineer licensed to practice as a professional engineer in New York State), certifies as follows:

The sponsor of the offering to convert the captioned property to a condominium retained me/our firm to prepare a report disclosing the condition of the property (the report). We visually inspected the property on

and prepared the report dated , a copy of which is intended to be incorporated into the offering plan so that tenants and prospective purchasers may rely on the report.

I/We understand that I/we am/are responsible for complying with article 23-A of the General Business Law, the New York Condominium Act, and the regulations promulgated by the Attorney General in 13 NYCRR Part 19 insofar as they are applicable to this report.

I/We have read the entire report and investigated the facts set forth in the report and the facts underlying it and conducted the visual inspection referred to above with due diligence in order to form a basis for this certification.

I/We certify that the report and all documents prepared by me/us disclose all the material facts which were then discernible from a visual inspection of the property. This certification is made for the benefit of all persons to whom this offer is made. I/We certify that the report and all documents prepared by me/us, based on my/our visual inspection:

(1)set forth in narrative form the physical condition of the entire property and are current and accurate as of the date of inspection;

(2)afford potential investors, purchasers and participants an adequate basis upon which to found their judgment concerning the physical condition of the property;

(3)do not omit any material fact;

(4)do not contain any untrue statement of a material fact;

(5)do not contain any fraud, deception, concealment or suppression;

(6)do not contain any promise or representation as to the future which is beyond reasonable expectation or unwarranted by existing circumstances;

(7)do not contain any representation or statement which is false, where I/we:

(i)knew the truth;

(ii)with reasonable effort could have known the truth;

(iii)made no reasonable effort to ascertain the truth; or

(iv)did not have knowledge concerning the representation or statement made.

I/We further certify that I/we am/are are not owned or controlled by and have no beneficial interest in the sponsor and that my/our compensation for preparing this report is not contingent on the conversion of the property to a condominium or on the profitability or price of the offering. This statement is not intended as a guarantee or warranty of the physical condition of the property.

(p)Cooperative policy statement number one shall be applicable to condominium offerings.

(q)If units in a condominium are offered for sale pursuant to an offering plan for the alteration or conversion of a building located in the city of New York to condominium ownership, which was substantially used for or will be offered substantially for manufacturing, commercial or warehouse purposes, the sponsor shall send one copy of the offering plan to the Mayor's Office of Loft Enforcement, 12th Floor, 116 Nassau Street, New York, N.Y. 10038.

13 NYCRR 19.2 - Contents of offering plan

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Dates and status

Compiling agency: Department of Law
Text status: Westlaw Inline Boundary Correction
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)Cover.

(1)The lower portion of the outside front cover of every offering plan shall contain the following statement in capital letters printed in boldface roman type of at least 10-point modern and at least two points leaded:

THIS OFFERING PLAN IS THE SPONSOR'S ENTIRE OFFER TO SELL THESE CONDOMINIUM APARTMENTS. NEW YORK LAW REQUIRES THE SPONSOR TO DISCLOSE ALL MATERIAL INFORMATION CONCERNING THE CONDOMINIUM APARTMENTS IN THIS PLAN AND TO FILE THIS PLAN WITH THE NEW YORK STATE DEPARTMENT OF LAW PRIOR TO SELLING OR OFFERING TO SELL ANY APARTMENT. FILING WITH THE DEPARTMENT OF LAW DOES NOT MEAN THAT THE DEPARTMENT OR ANY OTHER GOVERNMENT AGENCY APPROVED THIS OFFERING.

(2)There shall be set forth on the outside front cover page of every offering plan the following information:

(i)the amount of money sought to be raised;

(ii)the names and addresses of the sponsors, promoters, offerors, selling agents and principal distributors;

(iii)the name and designation of the condominium regime; and

(iv)the date of the offering plan, followed by a statement that the offering plan may not be used for a period of more than 12 months from the filing date indicated in the letter from the Department of Law. (See section 19.5 of this Part.)

(3)If there is no bond, escrow of money or other security which is adequate to assure the return of all monies in the event of the failure, discontinuance or abandonment of the offering, the following statement shall be prominently made in the offering plan in italicized letters:

If this offering plan is not consummated for any reason, you may lose all or part of your investment.

(4)If the right is reserved to change the price of any condominium interest from that listed in the offering plan, then such fact and the effects thereof shall be set forth within the plan (caution: under rent control applicable local or State regulations govern). In addition, in such case, the following statement shall be included on the front cover in bold easily readable print:

The prices for these condominium interests may be changed so that purchasers may pay different prices for similar interests [except where the property is subject to rent control and the purchaser is a tenant who was in occupancy on the date when the offering plan was filed]. The effect of this is set forth on page (indicate page).

(5)In addition, the following statement shall appear on each page of the offering plan containing a list of prices for the condominium interests:

See page (indicate page) for possible changes in these prices.

(6)The foregoing shall not constitute a limitation on the contents of the front cover where additional material is essential for full and fair disclosure.

(b)Body.

(1)A detailed table of contents shall be included on the inside front cover or next immediate page.

(2)Where applicable, the following facts (in addition to those expressly required in subdivision 1[b] of section 352-e of the New York General Business Law) shall be set forth in detail with respect to every offering of condominium interests:

(i)Whether there is a statute concerning condominiums in effect in the State or territory in which the condominium project is or is to be located.

(ii)The nature and scope of the interest in an apartment, general common elements, limited common elements, and otherwise (which interest is hereinafter referred to as “condominium interest”), to be offered pursuant to the offering plan, including whether same is a fee or leasehold interest. If a leasehold interest is to be offered, the offering plan should set forth the effect of a default in payment of rent by a purchaser of such condominium interests upon other such purchasers.

(iii)Whether each condominium interest is to be separately assessed for real estate taxes, and the effect upon an owner of such interest of the nonpayment of real estate taxes by any other such owner.

(iv)

(a)Any restrictions upon the mortgaging of an individual condominium interest, and whether a mortgage of one condominium interest constitutes a lien upon other condominium interests or personal property therein within the condominium project; the relationship of the lien under such mortgage to any liens for the payment of common charges; the requirements for the payment of common charges by one who acquires a condominium interest subsequent to the initial sale whether in a judicial sale or otherwise.

(b)Whether banks, insurance companies and other institutional lenders in the State or territory in which the condominium interest is located may invest in mortgages on individual condominium interests; details concerning proposed mortgage financing.

(v)Restrictions on the alienation, conveyance, sale, lease, purchase or ownership of condominium interests, or the occupancy of apartments or other subdivisions in the condominium project.

(vi)The recordability with the appropriate local governmental body of relevant documents and amendments thereto relating to the condominium project, including the following: building plans, surveys, deeds and mortgages of individual condominium interests, the bylaws and rules and regulations of the condominium regime, corporation, association, organization, group or entity (hereinafter referred to as “condominium regime”) representing the owners of condominium interests in the condominium project which will control the management or operation of any aspect of the condominium project.

(vii)Detailed definitions of the condominium interests to be offered, apartments or other subdivisions, general common elements, limited common elements, and all other applicable terms relevant to the ownership of interests in the condominium project.

(viii)Detailed description of the physical aspects of the condominium project including:

(a)uses or intended uses of the property (such as for residential, commercial or industrial use), and the persons or parties who may use the property or facilities therein;

(b)the land on which any apartment or other structures are to be erected, including, where applicable, type of land-fill and other material particulars;

(c)the design and structural details, including number of stories in each structure, number of units in each structure, the basic materials used for exterior and interior construction, and a brief description of interior walls and facing, floors and ceiling, bathrooms, painting and papering, roof, insulation and heating systems, windows and doors, kitchen equipment, bathroom equipment, patios, sundecks and terraces, wiring, lighting fixtures, ventilators, air-conditioning, companies supplying water, electricity, gas or other utilities, sanitary sewage system, garbage disposal facilities and service, plumbing, storm water disposal, T.V. antennas, laundry facilities, elevators, description of landscaping and grounds, public halls, stairways, entrance and exits, closet space in apartments, storage space per apartment or other subdivisions, general storage facilities, detailed description of recreational facilities and equipment in the condominium projects including size of swimming pool, if any, and materials used therefor, date of construction or scheduled completion;

(d)the surrounding areas including zoning classifications, shopping facilities, schools, public transportation facilities, fire fighting services, police protection; the assessed valuation, real estate tax rate and real estate taxes for the past two years (if an existing property), or a projection thereof by a competent real estate expert based on existing practices.

(ix)Detailed description of the nature of the expenditures for operation and management of the condominium project, and of reserved funds, working capital and other charges (all of the above are hereinafter referred to as “common charges”) required to be contributed by all of the owners of condominium interests in the condominium project, the purposes for which such common charges may be assessed, and the details concerning any distributions required to be made to such owners by the condominium regime, where applicable.

(x)A detailed description of services to be performed by the condominium regime.

(xi)Whether each owner of a condominium interest is to be entitled to exclusive ownership and possession of his apartment or other subdivisions; a detailed description of the rights acquired by a purchaser of such interests, including the right to vote in the condominium regime, rights to distributions by the regime, and rights upon liquidation of the condominium project.

(xii)Percentages, including the basis upon which such percentages are computed, of each owner's:

(a)interest in the common elements;

(b)contribution for the payment of aggregate common charges of the condominium regime;

(c)share of distributions by the condominium regime to which each owner is entitled.

The offering plan should state whether the above percentages or numbers are alterable and if so the details thereof.

(xiii)Whether the common elements are subject to partition; severability of interests in the common elements from interests in the apartments or other subdivisions.

(xiv)Whether liens or liabilities exist or may arise with relation to the common elements or one or more of the apartments or other subdivisions, or maintenance charges paid by owners of condominium interests, for either work performed or materials supplied to any portion of the common elements, apartments or other subdivisions or for personal injury or property damage occurring in any portion of the condominium project.

(xv)Whether a lien may arise on a condominium interest as a result of a default in the payment of common charges allocated to such condominium interest by the condominium regime; and any priority of such lien over liens for real estate taxes, liens from mortgages on such condominium interest and other liens and encumbrances thereon. The type of procedure necessary in order to foreclose such lien should be set forth.

(xvi)Liability of an owner of a condominium interest for the payment of common charges incurred subsequent to the transfer, sale or other conveyance of such condominium interest or prior to the acquisition of such interest.

(xvii)The legal obligation of owners of condominium interests to comply with and abide by the bylaws, rules and regulations of the condominium regime and to pay common charges levied by such regime; methods of enforcing compliance.

(xviii)The effect of a waiver of the use of common elements or of the abandonment of a condominium interests [sic] or conveyance of a condominium interest to the condominium regime by an owner of such condominium interest.

(xix)Insurance required to be provided by the condominium regime for the benefit of all owners of condominium interests and the allocation of the cost of premiums for such insurance among the owners of condominium interests.

(xx)Deductions available to the owners of condominium interests for income tax purposes, of their payment of real estate taxes and interest on mortgages on condominium interests or their proportionate share of payments by the condominium regime for real estate taxes or mortgage interests, where applicable; the liability of such regime for the payment of income taxes.

(xxi)Conformance with all applicable laws, rules, regulations and requirements including those governing zoning and construction, by the builders, sponsors, selling agents, distributors and all other persons or parties connected with the offering; the condominium regime or the improvement of property constituting all or part of the condominium project. Whether a certificate of occupancy and certificates from boards of fire underwriters or similar groups and all other necessary certificates of local authorities relevant to a condominium interest must be issued before the closing of title to such interest.

(xxii)The details on liens, easements, restrictions and encumbrances affecting any owner of a condominium interests [sic ], the condominium regime or the condominium project.

(xxiii)Relevant details concerning the condominium regime should be set forth, including the following: (The material required in [a] through [p] hereafter, or elsewhere in this Part, need not be included if a true copy of the bylaws is contained within the offering plan or attached thereto, containing such information.)

(a)The legal right of such regime to control the administration, maintenance and repair of common elements, to govern the conduct of owners of condominium interests and to levy common charges upon such owners, to replace or alter portions of the condominium project.

(b)A summary in the offering plan of the bylaws, rules and regulations of the condominium regime.

(c)The manner of election of the board or other governing group of such condominium regime, and the compensation payable to such group or board.

(d)The details concerning the governing board or group of such condominium regime including the number of members therein, the qualifications required of such members, terms of office, powers and duties, manner of removal of such members and quorum required for meetings.

(e)Provisions for meetings of owners of condominium interests including the notices required for such meetings and the conduct of such meetings, and the rights and powers of such owners.

(f)The method of allocating common charges for the condominium project among the owners of condominium interests.

(g)Provisions regarding the adoption and amendment of house rules governing the conduct of owners of condominium interests or other occupants of apartments or other subdivisions, the maintenance of apartments or other subdivisions, and common elements and all other relevant matters.

(h)Any undertaking to maintain records of the actions of the board or other governing group of the condominium regime and of meetings of such group or of owners of condominium interests, and of financial records and books of account of the condominium regime including a chronological listing of receipts and expenditures, an account for each condominium interest which shall contain the amount of each assessment of common charges thereon, the dates when due, the amounts paid thereon, and the balance due, copies of the declaration of condominium ownership (or other legal instrument submitting the property to condominium ownership), bylaws, rules and regulations and floor plans of apartments or other subdivisions, and whether such will be held available for inspection by owners of condominium interests and their agents.

Note:

The offering plan should also contain an undertaking to have the books of account of the condominium regime audited by an independent public accountant and to furnish all owners of condominium interests with annual verified statements by such accountants of the financial condition and receipts and expenditures of the condominium regime for the preceding fiscal year, in accordance with the statutory requirements of article 23-A of the General Business Law.

(i)Details concerning the hiring and firing of managers and other employees, and the powers and duties which may be delegated to them.

(j)The percentage or number of votes required of the owners of condominium interests or of the board or managing group of the condominium regime for all actions, including elections of officers, amendments of bylaws, capital expenditures, reconstruction of damaged or destroyed units, merger of units, abandonment of the condominium form of ownership.

(k)Details concerning the operations and management of the condominium project by the condominium regime.

(l)Procedure and conditions required for the severance of some of the condominium interests from the condominium regime, or for the abandonment of the condominium form of ownership, the division of proceeds of the sale, if any, of all condominium interests upon such abandonment, and the disposal of existing liens on the condominium interests upon abandonment.

(m)A detailed delineation of the portions of the real property to be maintained and repaired by the condominium regime and those portions which are required to be maintained by the owners of the individual common interests, including outside walls, interior walls between apartments, interior partitions within apartments, pipes and wires within walls and partitions and fixtures.

(n)Rights of entry into apartments or other portions of the condominium project for the purpose of making emergency or other repairs; responsibility for the payment of such repairs and for damages as a result of the foregoing.

(o)Details of provisions regarding damage or destruction of apartments or other portions of the condominium project, including provision for reconstruction and the votes required therefor, the application of insurance proceeds received upon such damage or destruction, the assessment of owners of condominium interests for additional moneys required for reconstruction and the method of apportioning such insurance proceeds or such assessments among such owners, and the effect of failure to reconstruct.

(p)A provision for representative actions by or against the condominium regime or the owners of condominium interests.

(xxiv)Warranties, if any, concerning the construction of the structures and personal property therein.

(xxv)Estimates of the aggregated common receipts and expenditures of the condominium regime for the first year of operations and estimates of the common charges and other expenditures for each individual condominium interest for such period, together with the qualifications of the party making such estimates.

(xxvi)For existing properties, a fair reflection of the operations thereof, with historical operating figures for at least two years or the life of the property where it has been in existence for a shorter period, including profit and loss statements prepared by an independent public accountant, audited and prepared in accordance with standard accounting procedures consistently applied. The operating figures provided as aforesaid shall cover a period ending not more than six months prior to the date of the offering plan. However, unaudited operating figures shall be provided for any subsequent period not covered by such figures, up to three months prior to the date of the offering plan.

(xxvii)A summary of the provisions of any agreement for management of the property of the condominium project including the assignability or cancelability of such agreement.

(xxviii)Whether any of the employees or managers will be bonded and the details thereof.

(xxix)Names and addresses, background and experience of all sponsors and other promoters, prior relationship to each other and to the promotion or offering. Indicate whether this is a profit or nonprofit venture.

(xxx)A summary of all material clauses in any relevant agreements or legal instruments such as certificates of incorporation, contracts of sale, and mortgages, which are not covered in the offering plan.

(xxxi)The experience and background of the person, party or other entity that will manage the condominium project.

(xxxii)The existence of any lawsuits or other legal proceedings which could materially affect the offering, the purchasers of condominium interests, the condominium project or operation thereof.

(xxxiii)The status of any existing construction.

(xxxiv)A separate schedule which shall set forth the following with regard to each condominium interest, where applicable; designation of each apartment or other subdivision; number of rooms and baths in each; the percentage of appurtenant interest in general, common and limited elements; price of each condominium interest; the estimated common charges for the first year for maintenance payable to the condominium regime; and the estimated expenditures payable to others for real estate taxes, utilities, heating and other expenses.

(xxxv)Expenses and closing costs to be borne by the purchaser of the condominium interest.

(xxxvi)Provisions for condominium interests unsold at the time of closing of title to the first such interest, including the name of the person or party who will hold title to unsold interests, the voting rights applicable to such interests, the obligations of sponsors or other promoters to pay common charges applicable to such interests, and whether bond or other security is required to be posted to assure payment of such charges; changes in prices of such units and the effect, if any, [of] such changes upon common charges payable by the owners of such interests, and owners of other interests, and whether sponsor may have voting control of the condominium regime.

(xxxvii)Where the rents of the apartments constituting all or part of the condominium interests offered are subject to governmental rent control, the offering plan should set forth a summary of the rights of present tenants and other occupants thereof who do not wish to purchase condominium interests, a summary of applicable regulations of the governmental subdivision having jurisdiction, the amount of rents payable for such apartments, the procedure required in order to obtain possession of such apartments and the obligations for the payment of common charges by purchasers of condominium interests which include such apartments.

(xxxviii)The nature of any contractual undertakings or obligations of sponsors, promoters or other persons and bonds or other securities posted to assure payment of such obligations or undertakings, and the conditions or limitations thereon, which would affect the purchaser.

(xxxix)The offering plan should contain a representation that all moneys paid by purchasers of condominium interests offered pursuant to such plan shall be held in trust by the offeror in a special account in a specified bank and will not be commingled with any other funds and will be expended only for the purposes specified in the offering plan in connection with the consummation of the plan. The name and address of an attorney-at-law, whose signature shall be required for the expenditure of such trust funds shall also be set forth.

(xl)The offering plan shall contain a representation as to the physical condition of existing property and the equipment therein.

(xli)

(a)The date when all moneys received from purchasers are to be returned in the event that the property is not consummated.

(b)The dates and conditions upon which the plan may and shall be declared effective and subsequent to which the offering may not be abandoned or otherwise terminated.

(c)The date of closing of title to the condominium interests offered, together with the conditions which must exist and the requirements which must be met before such closing takes place.

(xlii)All other information material to the offering.

(xliii)Notwithstanding any other provision of this Part, in the case of a wholly nonresidential condominium project or development offering, the filing and delivery of an offering plan consisting of true copies of the declaration and bylaws may be accepted by the Attorney General as adequate.

(xliv)For existing properties, a statement whether or not such property is subject to the provisions of the Emergency Housing Rent Control Law (or in cases where the property is located in the City of New York, whether or not the property is subject to the provisions of the City Rent and Rehabilitation Law). Where the property is subject to such control, a statement of the maximum rents in effect for each unit shall be set forth. In addition the following statement shall be included in bold easily readable print:

The property is subject to rent control and the purchaser's right of possession of any unit occupied by a tenant is subject to the restrictions against eviction imposed by the (insert either Emergency Housing Rent Control Law or City Rent and Rehabilitation Law, whichever is appropriate).

(xlv)

(a)A special risk section that, if applicable, must be on a separate page, immediately following the table of contents. All features of a plan which involve significant risk or will disproportionately or unusually affect common charges or obligations of unit owners in future years of condominium operation must be conspicuously disclosed and highlighted. A brief description of the risk should be given in this section and a more thorough description should be given in a referenced later section. Questions as to whether a risk should be highlighted in this section should be resolved in favor of inclusion. Special risks include, but are not limited to, the example set forth in clause ( b) of this subparagraph.

(b)If the purchase agreement is not contingent on obtaining financing, the purchaser's obligations to pay the balance of the purchase price without regard to the availability of financing and purchaser's maximum loss upon failure to pay the balance of the purchase price must be explained.

(c)Exhibits required.

The offering plan submitted to the Department of Law must contain the exhibits described below and provide that all exhibits are part of the offering plan required by General Business Law article 23-A and subject to the requirements and sanctions of the law. Whenever an exhibit document is marked “Original” (orig.), it means that all copies must be duly executed, original documents. Whenever a document is marked “copy”, it means that a true and complete copy of the document should be included. Two copies of parts A (Certifications) and B (General) of the exhibits are required, indexed with numbered tabs and secured in a folder so that documents can easily be removed. In addition, conformed or photostatic copies of the part A certifications should appear in the body of the plan. Inapplicable exhibits should be expressly noted and explained in the transmittal letter.

(1)Part A of the exhibits (Certifications) shall include:

(i)(A-1)—certification by sponsor and sponsor's principals (orig.); and

(ii)(A-2)—certification by sponsor's engineer or architect (orig.).

(2)Part B of the exhibits (General) shall include:

(i)(B-1)—copy of title company report dated within 30 days of submission;

(ii)(B-2)—copy of specimen title policy for all individual units which unconditionally insures that a valid condominium has been established and that the policy will not contain an exception indicating the existence of a mortgage or other liens affecting the unit insured and any other unit;

(iii)(B-3)—original letter from title company stating it has reviewed declaration, bylaws and other relevant documents and is prepared to insure title to purchasers of units in accordance with exhibit B-2;

(iv)(B-4)—copy of proposed management agreement;

(v)(B-5)—copies of all contracts which will be binding on the board of managers or board of directors of a homeowners' association, for $2,500 or more per year, such as service, union, washing machine, television antennae, cable television, snow removal, landscaping, security, exterminating, elevator, heating and air conditioning contracts;

(vi)(B-6)—copies of proposed insurance policies, including fire, liability, officers' and directors' liability (if any), and other insurance policies including a written opinion from a licensed insurance broker, insurance appraiser or real estate appraiser concerning adequacy of coverage to avoid being a coinsurer;

(vii)(B-7)—if a homeowners' association is part of the offering, include copies of certificate of incorporation, receipt from New York Secretary of State or equivalent proof of filing for out-of-state plans, bylaws and other relevant organizational documents;

(viii)(B-8)—copy of G.B.L. section 352-b designation of Secretary of State as agent (for out-of-state issuers, sponsors, principals and selling agents);

(ix)(B-9)—worksheets which set forth bases for projections and method and calculations used to prepare first-year operating budget;

(x)(B-10)—copies of all professional and commercial leases;

(xi)(B-11)—certified rent roll, including the name of each tenant, apartment number, rent, term and termination date of lease, and status under any rent regulatory laws for the month in which the offering plan was submitted to the Department of Law. Indicate vacant apartments and the date on which each such apartment first became vacant. Include an affidavit setting forth the identity of any tenants who are related by blood, marriage or adoption to the sponsor or selling agent, or are principals, employees, shareholders, limited partners or business associates of the sponsor or selling agent;

(xii)(B-12)—copy of contract to acquire property if not currently owned by sponsor;

(xiii)(B-13)—where the condominium is located outside the State of New York, a copy of the statute and regulations, if any, of the state or territory in which it is located governing condominiums or other matters contained in the offering plan;

(xiv)(B-14)—declaration of submission to condominium ownership or other documents of similar nature;

(xv)(B-15)—mortgages relating to the condominium;

(xvi)(B-16)—agreements or other documents of local taxing authorities relating to the separate assessment of each condominium unit for real estate taxes;

(xvii)(B-17)—copy of the mortgage and note or bond required by sponsor if sponsor is offering financing, or required by a mortgage lender procured by sponsor, together with any other document which significantly affects a purchaser's obligations for financing offered or procured by sponsor. If the documents are not available at the time of submission to the Department of Law, so indicate and forward when available; and

(xviii)(B-18)—other material document(s), each of which should be described in transmittal letter.

(3)Two copies of part C (Engineering) of the exhibits in a separate folder similarly secured and indexed. Part C of the exhibits shall include:

(i)(C-1)—architect's or engineer's detailed description of the physical aspects of the condominium with the architect's or engineer's stamp and original signature; and

(ii)(C-2)—copy of certificate of occupancy, if available.

(4)Two copies of the exhibits, part D (Fees, and other information) in a separate folder similarly secured and indexed. Part D of the exhibits shall include:

(i)(D-1)—personal or certified checks for one half the filing fees due under General Business Law section 352-e(7)(a) and the entire amount of the fees due under General Business Law section 359-e(5), both payable to the New York State Department of Law and placed within an envelope together with the form of receipt issued by the Department of Law;

(ii)(D-2)—signed M-10 forms, registration for broker-dealer, for the selling agent(s) (orig.), and signed M-2 forms, salesman statement, for all individual employees who act as salesmen for selling agents. Forms do not have to be submitted if currently valid registration forms are on file with the Department of Law from prior public offerings;

(iii)(D-3)—signed M-10 form(s), registration for broker-dealer, for all principals of the sponsor (orig.). Forms do not have to be submitted if currently valid registration forms are on file with the Department of Law from prior public offerings;

(iv)(D-4)—signed RI-1 forms, registrant information form(s) concerning prior convictions, judgments, administrative actions, bankruptcy, employment and business affiliations for all principals of the sponsor (orig.);

(v)(D-5)—proof of financial responsibility of sponsor (sponsor's certified statement or sponsor's affidavit of net worth) and sponsor's certification that its net worth is sufficient to meet sponsor's unsecured obligations under the plan, including sponsor's obligations for unsold units (orig.);

(vi)(D-6)—affidavit from sponsor and principals of sponsor, stating whether sponsor and principals of sponsor have taken part in public offerings of cooperative interests in realty, including condominiums in or from New York which were initially offered during the preceding five years. State the address of the realty and approximate date of the first closing; and

(vii)(D-7)—completed statistical information cards available from the Department of Law.

13 NYCRR 19.3 - Prefiling procedure (optional)

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Dates and status

Compiling agency: Department of Law
Text status: Source receipt
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)Sponsors of condominium offerings may submit their proposed offering plans in draft form to the Real Estate Financing Bureau, Department of Law, 28 Liberty Street, New York, NY 10005, with a request for analysis and comments. Three copies of such proposed plan should be submitted together with two copies of the exhibits described in section 19.2(c) of this Part.

(b)On the date the proposed offering plan in draft form is submitted to the Department of Law, the sponsor shall serve each offeree, as defined in section 19.1(g) of this Part, of any occupied building with a copy of the proposed offering plan together with the following notice:

Date of Notice: __.

We have submitted for prefiling review to the New York State Department of Law, Real Estate Financing Bureau, a proposed offering plan for the conversion of [insert address or name of building] to a condominium. The law requires us to disclose all material information concerning the building and the conversion process in an offering plan. A copy of the proposed offering plan is enclosed for you to retain. Other copies of the offering plan are available for inspection and copying at the office of the sponsor (or sponsor's selling agent) located at [insert address of sponsor or selling agent] and at the Department of Law.

The Attorney General strongly urges you to read this offering plan carefully and to consult with an attorney to advise you as to the meaning and consequences of the offering plan.

You may send written comments to the Department of Law, Real Estate Financing Bureau, 28 Liberty Street, New York, NY 10005. You may also send your written comments to the sponsor (or sponsor's selling agent). No apartments may be sold or offered for sale, no purchase agreements may be executed and no down payments may be accepted unless and until the Department of Law files the offering plan and a copy of the filed plan is served on each tenant.

(c)The upper portion of the front cover of every proposed offering plan shall contain the following statement in capital letters printed in red in boldface roman type of at least 10-point modern and at least two points leaded:

THIS IS A PROPOSED OFFERING PLAN (“RED HERRING”) TO CONVERT THE APARTMENTS IN THIS BUILDING TO A CONDOMINIUM. IT HAS BEEN SUBMITTED TO THE NEW YORK STATE DEPARTMENT OF LAW, REAL ESTATE FINANCING BUREAU. THIS PROPOSED OFFERING PLAN IS SUBJECT TO MODIFICATION. APARTMENTS MAY NOT BE SOLD OR OFFERED FOR SALE UNTIL THE OFFERING PLAN IS FILED AND A FINAL COPY IS DELIVERED TO EACH TENANT.

(d)The Department of Law, in its discretion, may issue a letter to the sponsor or sponsor's attorney stating that an offering plan, that was submitted pursuant to the prefiling procedure for a building occupied in whole or in part for residential purposes, is filed when:

(1)more than 120 days have elapsed from the date the draft offering plan was submitted to the Department of Law; and

(2)after analysis and comment as provided under subdivision (a) of this section, the sponsor submits 15 copies of the bound offering plan and a personal or certified check for one half the filing fees due under General Business Law section 352-e(7)(a) payable to the New York State Department of Law.

At any time during the prefiling procedure, or if the Department of Law declines to issue such a letter to the sponsor or sponsor's attorney under the prefiling procedure, the sponsor may elect to submit for final filing. The sponsor then must comply with section 19.1(e) and (f) of this Part and shall be subject to the minimum and maximum time requirements and other requirements of section 19.1(h) of this Part.

13 NYCRR 19.4 - Advertising

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Dates and status

Compiling agency: Department of Law
Text status: Source receipt
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)All advertising in connection with the offering of condominium interests shall contain the following statement running along the entire width of the advertisement, in easily readable print: This advertisement is not an offering, which can be made only by a formal prospectus.

(b)The statement required under the foregoing subdivision shall similarly be contained on the cover page of all circulars, flyers, cards, letters and other literature employed in connection with soliciting interest in the offering; except that a single page letter of transmittal actually accompanying a prospectus duly filed with the Department of Law need not contain such statement, if included therein it is accurately stated that the prospectus is transmitted herewith.

(c)No abbreviations shall be employed in connection with any such advertising, unless the meaning is unmistakably clear.

(d)Irrespective of the provisions of this section, the following statement may be used in all classified advertisements not more than five inches long and not more than one column of print wide:

NO OFFERING IS MADE EXCEPT BY PROSPECTUS.

(e)No floor plan, chart or diagram may be used in the offering of condominium interests unless such plan has been filed with the Department of Law as part of a plan of condominium offering.

(f)No advertisement shall include any representation or statement not set forth in the offering plan filed with the Department of Law of the State of New York, or inconsistent therewith. Every statement regarding common and other charges and expenditures by purchasers shall be preceded by the word estimated and there shall be no representation of specific dollar or percentage savings because of anticipated income tax deductions resulting from expenditures.

(g)Mere advertising material employed subsequent to the initial filing need not be filed, but shall be consistent with offering literature filed, for amendments thereto.

13 NYCRR 19.5 - Amendments

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Dates and status

Compiling agency: Department of Law
Text status: Source receipt
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)General.

Documents to supplement or amend an offering plan—collectively, amendment(s) —shall be deemed part of the offering plan and shall meet the following requirements:

(1)If the offering plan does not comply with section 19.1(c) of this Part due to change of events, the passage of time or any other reason, the offering plan must be amended promptly.

(2)An amendment must include a representation that all material changes of facts or circumstances affecting the property or the offering are included, unless the changes were described in prior amendment(s) submitted to but not yet filed with the Department of Law.

(3)Except as otherwise provided, an amendment to an offering plan shall be filed on the date indicated in the letter issued by the Department of Law stating that the amendment has been filed, and not sooner.

(4)Amendments that have been filed with the Department of Law must be attached to the inside front cover of the offering plan before the amended plan is distributed to the public. The cover of the offering plan must be stamped: “This plan has been amended. See inside cover.” Any revisions, additions or deletions of specific language in the offering plan should reprint a sufficient portion of the paragraph from the offering plan, as revised, so that the revised portion of the offering plan may be understood easily. An offering plan that has been amended extensively may be rewritten to incorporate the amendments into the body of the plan.

(5)Amendments must be served on offerees in accordance with section 19.1(g) of this Part.

(b)Procedure for submission of amendments.

Amendments must be mailed to or submitted during business hours to the Real Estate Financing Bureau, Department of Law, 28 Liberty Street, New York, NY 10005. Include the following when submitting an amendment to the Department of Law:

(1)A transmittal letter, signed by the attorney who prepared the amendment, that:

(i)states the date the offering plan was filed;

(ii)identifies the subject amendment(s) in numerical order;

(iii)states whether prior amendments had been submitted to but not yet filed with the Department of Law; and

(iv)identifies, if possible, the attorney in the Department of Law who reviewed the most recent submission.

(2)Three copies of the amendment to the offering plan.

(3)Check (certified or uncertified) for filing fees under G.B.L. section 352-e(7), payable to New York State Department of Law, stapled or clipped to the transmittal letter together with three copies of the form of receipt issued by the Department of Law.

(4)Two copies of the offering plan, including all filed amendments.

(5)One form CD-2.

If the amendment is submitted before the closing, or if the amendment discloses the events that took place at the closing, the form must be signed by the sponsor. If the amendment is submitted after the closing, the form must be signed by one or more holders of unsold shares and must include the sponsor or principals of sponsor if the sponsor or principals are holders of unsold shares.

(c)Extensions of offering plans.

Pursuant to section 19.2(a)(2)(iv) of this Part, the term of the initial offer is 12 months commencing on the date indicated in the letter issued by the Department of Law stating that the plan is filed. Prior to the closing of the first unit, an amendment other than a price change amendment extends the term of the offering for an additional six-month term, unless the term is shorter by the provisions of the amendment. After the closing of the first unit, any subsequent amendment other than a price change amendment extends the term of the offering for an additional 12-month term from the date of filing of the amendment. A price change amendment submitted pursuant to subdivision (d) of this section does not extend the term of the offering. In the absence of any amendments, an extension of the term must be made by amendment before the end of the then current term and must comply with the provisions of this section and the requirements set forth below.

(1)The amendment must disclose all material changes, such as decreases or increases in common charges.

(2)If the closing has occurred, the amendment must state:

(i)the number of unsold units remaining; and

(ii)the extent to which the sponsor controls the board of managers.

(d)Price change amendments.

An amendment proposing to change any offering price is subject to the requirements set forth below.

(1)Notwithstanding paragraph (a)(3) of this section, if the amendment is limited solely to price changes and no prior amendment has been submitted to but not yet filed with the Department of Law, the amendment shall be deemed filed when submitted to the Department of Law.

(2)If the amendment contains price changes and supplements or amends any other part of the offering plan, the amendment shall be filed on the date indicated in the letter issued by the Department of Law stating that the amendment has been filed, and not sooner.

(3)The transmittal letter for a price change amendment must be accompanied by a completed copy of form C-11 as promulgated by the Department of Law.

13 NYCRR 19.8 - Determinations of elections by eligible senior citizens and eligible handicapped persons

No later Register activity identified in this check.

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Dates and status

Compiling agency: Department of Law
Text status: Source receipt
Compiled text through: Jan 15, 2026
Register checked through: July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
Activity status: No later Register activity identified in this check.
Source snapshot: Jun 6, 2026

(a)Election.

Subject to the other provisions of this section, a person may seek exemption as an eligible senior citizen or an eligible handicapped person as defined in General Business Law, section 352-eee or 352-eeee by completing the relevant form SH-1, SH-2 or SH-3 promulgated by the Department of Law and included in the offering plan, and returning the form to the sponsor or his designated agent within 60 days of the date the Department of Law files the plan. The form must be served on the sponsor or his designated agent by personal service or certified or registered mail, return receipt requested. The sponsor or agent shall acknowledge receipt of the form and return an acknowledged copy to the person making the election.

(b)Determination of disputed elections.

(1)A sponsor who disputes the election by a person seeking exemption as an eligible senior citizen or eligible handicapped person must apply to the Department of Law within 30 days of the receipt of the election form for a determination by the Department of Law of such person's eligibility.

(2)The application shall be in the form of an affidavit sworn to by a person having knowledge of the facts and shall set forth the following:

(i)a statement that the application is made within 30 days of receipt of the election form;

(ii)the specific grounds for challenging the exemption;

(iii)the basis for the affiant's belief that the person making the election is not an eligible senior citizen or eligible handicapped person; and

(iv)all supporting information and documentation in the possession of the affiant bearing on the above.

(3)If the sponsor does not file a timely application, the Department of Law shall determine that the person making the election is an eligible senior citizen or eligible handicapped person.

(4)Upon receipt of an application and supporting documentation timely filed, the Department of Law shall inform the person making the election that an application disputing his or her eligibility has been received and shall request the person to submit an answer to the application on forms prescribed by the Department of Law supported by all relevant documentation in his or her possession within seven business days. Failure to answer the application shall not preclude the Department of Law from determining the eligibility of such person. The Department of Law may, in its discretion, request the appearance of any witness for the purpose of obtaining oral testimony on the issue or issues presented in the dispute. Such person shall be notified that he or she may be represented by counsel.

(5)On the basis of the information contained in the election form, the sponsor's application, the answer, if any, and oral testimony, if any, the Department of Law shall issue its determination of eligibility.

(c)Applicability.

This section shall be applicable to all offering plans accepted by the Department of Law for filing after the effective date, and to all applications to the Department of Law for determinations pursuant to General Business Law, section 352-eee(4) or 352-eeee(4) not yet determined as of the effective date.

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