Governor Andrew Cuomo signed an executive order that extends the deadlines for condo offering plans, giving developers a lifeline as projects fall behind schedule and transactions stall. The order puts a pause on the 15-month period in which offering plans for rental conversions to co-op or condo must become “effective” — the term means at least 15 percent of units have gone into contract. That timeline is now on hold until the governor’s order expires
source https://therealdeal.com/2020/04/17/governor-extends-offering-plan-deadlines-for-condos-co-ops-amid-stalled-projects/
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