So you want to buy a co-op and you’ve done all the leg work and you’re gearing up to take on the co-op board. The bad news is that co-op boards in New York City can operate with complete impunity. Unless a board violates the city’s Human Rights Law (which prohibits rejections for reasons of race, sex, age, etc.), the board can reject you for whatever reason it wants. Oh, and the board has no obligation to tell you why. Here are the top reasons why potential buyers are rejected by co-op boards.
