clock menu more-arrow no yes

Filed under:

Ask Curbed: Board Buybacks

Rounding out a robust week in the Ask Curbed department...

When purchasing a NYC condo one typically has to sign over power of attorney to the Board for certain financial matters and in the event the building decides to buy back a unit under the right of first refusal. Question: does anyone know of a case where this really happened and then the other unit owners were assessed a large sum in order to fund this purchase? As a new Manhattan condo owner, I'm interested.