What does ‘right of first refusal’ mean when you are selling a NYC condo?
March 3rd 2022
Brick Underground
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A New York City condo board has limited ways to exercise control over sales in the building (unlike a co-op board, which has much broader authority over deals). But condo boards have what is called the right of first refusal. This is an option to buy a condo from a seller at the same price as the sales contract.