Closing the window on co-op board approvals

By A. Ready  | February 22, 2011 - 11:35AM

On awhile back, a co-op supplicant asked what her rights were when applying for approval by a co-op board. Not many, if any, was the consensus, with one responder going so far as to call someone who had been awaiting approval for "only" three months a drama queen. But this may be changing.  A bill before the New York City Council would require co-op boards to render a decision "within 45 days of receiving a completed application." (You can send your representatives some email encouragement by clicking on over to The Real Estate Board of New York's Action Center.)  This all sounds good to us, though we wonder whether co-op boards will find a way to revise their applications so that the "completed application" target becomes less easily defined.




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