SPONSOR UNIT, ALL APPLICABLE NYC AND NYS TRANSFER TAXES PAID BY BUYER. Forest Hills, Allegheny County, PA. Time: 1pm - 3pm. See a list of these real estate licenses. A sponsor unit is a co-op unit that belongs to the sponsor, the building’s developer. After all, Cooperative is our middle name! Call us at (202) 349-7455 or email Ryan Greer rgreer@ncb. If you live in a co-op building, then you will most likely need coop board approval unless you are the sponsor and you are renting out a sponsor unit. Holding Sponsor Principals Liable for New Construction Condominium Defects. This is truly a buyer’s market, and for those rushing to move forward without time-consuming and intrusive board interviews, one. 15 days on ZillowNuances to Buying a Sponsor Unit Co op in NYC. In New York City, the transfer tax is 1% of the purchase price on properties less than $500,000, while it is 1. $225,000. 525 West 235th Street, Bronx, NY. New York Home values; Sellers guide; Selling options. 1 bd; 1 ba; 700 sqft - Condo for sale. New York City's new mayor, Eric Adams, a former NYPD officer, says the unit will help curb gun violence and will be run differently than the original, which was ruled unconstitutional. Upper East. 1bd. Save article. All, Five years ago a friend bought a co-op sponsor unit in my old building and his real estate lawyer discovered, that when buying in a co-op from the sponsor, the law says they are not allowed to sell the unit for higher than the number of shares times the current offering plan most recent stated maximum share value. $805,000. Newest. New York city Real Estate is made up with Co-ops, Condominiums, Townhouses and Rental Apartments. Interim leases (if the sponsor can rent out any vacant unit before closing) The effective date and closing date (sale is contingent on plan being declared effective, i. From Great Listings Price Cuts: Japanese-Inspired home at 432 Park sells half off, while another unit in the building receives 25% haircut Wednesday, October 25, 2023 ; From Future New York Buying or Renting in New York City as a Foreign National + See the most popular NYC Buildings by Country Friday, October 20, 2023We have 27 properties for sale listed as sponsor unit great neck, from just $489,000. 2. The condo is a sponsor unit, so the builder hasn't sold it yet. View property. If price > $499,999 then 1. This highly competitive and unique market requires buyers to step up their game to score a home. $1,099,000. A sponsor unit is a co-op unit that belongs to the sponsor, the building’s developer. Rent regulation is a very real government policy (in select US cities like NYC) designed to provide affordable housing and protect against the displacement of low-income residents. Closings are typically held at the building management company’s offices for co-ops. 11374, Queens County, New York City, NY . Sponsor units are not common in New York City real estate. Exclusive 4% Buyer's Broker Commission Promotion! Limited-Time Offer: Starting immediately and running until 12/31/23, we're thrilled to. For condos, a developer may retain a sponsor unit. Monthly maintenance is $511. If you’re looking to buy a sponsor co-op in New York City right now, you have more options to choose from, possibly a result of Covid deaths. AVAILABLE NOW. A financial statement offers a snapshot of a co-op or condo building's financial health. Sponsor Unit No Board Approval Required! Last month free rent. 9 million. More. A sponsor unit is an apartment in a co-op or condo that the developer or investor has retained after selling the other units. In New York City, the transfer tax is 1% of the purchase price on properties less than $500,000, while it is 1. . A sponsor is a person or business entity starting a condo or co-op through conversion or as new construction. $879,000. FOR SALE. 125 Bronx River Road UNIT 7F, Yonkers, NY 10704. licensed real estate brokers licensed to do business in New York and Florida, respectively, under license numbers 10991232340 and. When you buy a sponsor unit, you’ll often hear that you’re buying “unsold shares. [1] At the most basic level, “a sponsor unit is an apartment that has never been sold” before. NYC’s Rent Guidelines Board meets every June to set the allowable increases for rent-stabilized leases. There's an issue and the page could not be loaded. He or she collects the rent is responsible for dealing with renters' issues concerning the interior of the apartment. February was another strong month for new development sales across New York City. That’s because buyers are expected to pay city and state transfer taxes on co-op sponsor sales. new york law requires the sponsor to disclose all material information in this plan and to file this plan with the new york state department of law prior to selling or of-fering to sell any condominium unit. For transactions that are $500,000 and higher, that rate goes up to 1. LISTING BY: EXP REALTY NYC. REBA MILLER: A sponsor unit is a residence that is owned by the original titleholder (usually the landlord or developer), who is responsible for converting the rental apartment building into a condominium or a co-op building that is offered for sale. 5 results. Melissa Leifer, a salesperson at Keller Williams NYC, says she is seeing more sponsor units for sale and that's to be expected if the elderly move out of state, move into assisted living facilities, or pass away. The. NYC Sponsor Units - What You NEED To Know. MARKETING - 112 UNSOLD SPONSOR UNIT BLOCK IN 100 WEST 93RD STREET CONDO. all sponsors pay the maintenance on their apartments, so the building does not suffer unless the sponsor does not pay. $589,000. 65 includes heat & hot water. A New York sponsor unit Sponsor units are apartments in a co-op where the real estate developer or building owns the unsold shares allocated to the unit. Rental Unit in Lenox Hill at 220 East 78th Street #23 for $2,850. coop . You can estimate your buyer closing costs using this calculator. The Public Engagement Unit's (PEU) Tenant Support Unit (TSU) provides assistance to New Yorkers who may be experiencing landlord harassment, are at risk of displacement, or need to make home-related repairs. New York City brokers define sponsor units as rent-controlled apartments in converted co-op or condo buildings that weren’t sold during the initial conversion. View property. 2501 Palisade Ave APT H2, Bronx, NY 10463. 5 baths. Spacious 1 bedroom 1 bathroom apartment at Rock Hill Terrace in Bayside. . 36 million for three-bedrooms. 2 bds; 1 ba;. This large and bright 2Br/1. Condo in Yorkville at 427 East 90th Street #2B for $1,699,000. 4. Needs complete renovation. सुने NYC Sponsor Units - What You NEED To Know और seventy-nine अधिक एपिसोड Real Talk NYC Real Estate द्वारा, मुफ्त! कोई साइनअप या इंस्टॉल की आवश्यकता नहीं है। NYC Sponsor Units - What You NEED To Know. 10% or more of the units remain unsold. Sponsor unit bronx. Stefano Ukmar for The New York Times. Description Located in the heart of the culturally rich, close-knit community of Astoria, Queens. , 2-Bath Co-op with Balcony, 24-hr. The Integrity Review process is intended to verify the integrity of individuals and entities seeking to do business with HPD (e. EXEMPTION FROM FILING UPDATE AMENDMENTS . 28 LIBERTY STREET. This is why you see bellow that there would be a flip tax of $7k for this unit (350 shares by $20/share). So if the loan amount is conforming — up to $970,800 in New York City — then it’s possible to get as much as 97% financing, she says. 75 Wall St APT 34H, New York, NY 10005 - Opportunity! 10005, New York City, NY. West81st's right, no-board-approval co-ops are indeed sponsor sales, and they often ask a premium knowing how valuable avoiding a board interview can be. 3(w)(1) and (2). One place to look is the prewar buildings that are plentiful on the Upper East and Upper West Sides. The core controversy over sponsor failure to sell apartments is being played out in the Manhattan courtroom of State Supreme Court Justice Joan B. 98-120 Queens Boulevard, Unit 4G. Co op rules and regulations in NYC can be extremely onerous for residents. At. . LISTING BY: RE/MAX SPARROW REALTY. New York City. Who owns it, then? The building, typically. The NYC Supportive Housing Initiative aims to fund and develop 15,000 new units of supportive housing in New York City over the next 15 years. v. Buy. After all, #LinManuelMiranda was just spotted in the neighborhood looking for locations for the #Hamilton movie! 340 Haven. Inspection Contingency. There are pros, cons and closing cost considerations when it comes to buying a sponsor unit in NYC. No board approval / sponsor unit / easy and quick process jackson heights one bedrrom very low maintenance: $673. A world-class condominium tower located in Tribeca and developed by a partnership of Fisher Brothers, Witkoff, and New Valley, 111 Murray Street soars some 800 feet, offering 157 residences ranging from one-bedrooms to full-floor penthouses, many with cinematic views of the Manhattan skyline,. So if the loan amount is conforming — up to $970,800 in New York City — then it’s possible to get as much as 97% financing, she says. New York City’s affordable HDFC co-ops, explained Everything you need to know about HDFC co-ops, one path to affordable homeownership in New York City By Emily Nonko Mar 25, 2020, 8:56am EDTIn this week’s Buy Curious, guest broker Eydie Saleh of Mirador Real Estate shares her intel on co-op sponsor units so you can determine whether they may or may not turn you into a homeowner after all. The higher rate of 1. Sponsor units can be found all over New York City, according to our experts. $1,099,000. SHARE. Alabaster, Shelby County, AL. And it is a mistake to sign on the dotted line unless you truly understand the particulars of buying here, such as tax abatements, sponsor units, and the big one: The difference between a co-op and a condo. 4 bds; 4 ba; 3,072 sqft - Condo for sale. Pet friendly for rent. Manhattan reported 231 sponsor contracts in March totaling $774M, a nearly 8% increase in aggregate dollar volume from February’s 175 deals. The latest sponsor unit to close at 432 Park Avenue sold for $15 million. $1,225,000. View property. A sponsor unit remodeling entails the building replacing ailing water, electric, or heating elements and repainting the dwelling. Unlike market-rate units, annual rent increases for rent-stabilized apartments are capped, so if landlords with these types of units raise rents at lease renewal time, they are limited to increases of a few percentage. What Is a Sponsor Unit? The short answer: it’s an apartment that has never been sold. If there's a reason why the sponsor unit is worth more then the resale then the cause justifies the means IF you like the finishes, etc. THE STATE EDUCATION DEPARTMENT / THE UNIVERSITY OF THE STATE OF NEW YORK / ALBANY, NY 12234 . Sponsor Unit - Riverdale New York Real Estate. Landlords are looking for other ways to access the money tied up in their real estate now that stabilized apartments cannot be deregulated. 2. Sponsor Units are apartments, formerly occupied by rent-stabilized tenants, within a Condo or Co-op. Tricks of the real estate trade are for real, especially in New York City. § 442-H New York Standard Operating Procedures § New York Fair Housing Notice TREC: Information about brokerage. You’ll often encounter more rules in a co-op building vs a condo building. “Buying in a sponsor-owned co-op allows you to finance as much as the banks will allow you,” says Melissa Cohn, executive mortgage banker at William Raveis Mortgage. 1 bedroom, BRONX NY 10457. 22 million. Sponsor Unit - NO APPROVAL REQUIRED. 1 bedrooms. It is asking $695,000. Sort: Homes for You. $225,000. New Construction. 1 bd; 1 baNormally, the seller pays the transfer taxes on a sale, which, in NYC, amounts to 1. 25 E 83rd St, New York, NY, 10028 - Rare Sponsor Unit Fully Renovated Junior 4, No Board Approval, Unlimited Financing For Sale Manhattan Upper East Side Apartment Co-op 24 Hour Security Guards, Abundant Closets, Central Air Conditioning, Dining Area, Dishwasher, Elevator, Fitness Facility, Hardwood Floors, Laundry Room, Washer Dryer View property. " In this case, the Taxpayers contracted for the purchase of two residential units (the Primary Unit and the Suite Unit) from the same grantee. Co-op in Turtle Bay. Here are some: Financing: If a sponsor holds a significant chunk of the building shares — usually 50 percent or more — banks and mortgage lenders are going to pass. Plus One Accessory Dwelling Unit (ADU) Program. Described as 'sponsor unit' Sort by. Find New York City apartments for rent and for sale at StreetEasy. For groups of units held as rentals or for commercial units within a residential condominium development that areAlthough New York’s highest court has held that sponsors have an implicit duty to sell enough apartments to make the co-op (or condo) viable as an owner-occupied building, that decision is of little. New developments are technically sponsor units, but NYC brokers don’t refer to them as such – they’re just called new developments. $4,700. Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. Co-op buyer closing costs are between 1% to 2%, which are much lower than the typical ~4% for condo apartments. filing with the department of law does notIn either case, as far as a co-op or a condo is concerned, an outside party — the original sponsor or an investor who bought the unit — is the landlord of those apartments. We’ll teach you everything you need to. Reload page. In the 1980s, when many buildings were converted into co-ops, the original tenants had the option to purchase. 340 West 86th Street, Unit 10B. ImageWe have 774 properties for sale listed as sponsor unit brooklyn, from just $521,669. 5 Baths + Terrace Asking: $1,195,000. 75% in year 1 and 3. Sponsor Unit • Condo. How to read a NYC co-op or condo building’s financial statement . For comparison: August 2019 saw 238 deals. Call us at (718) 543-7174. $100,000. Located on Yellowstone Blvd. Financing Contingency. Do not expect the fridge and stove to get an update, as the co-op usually leaves that to the new owners. 765 Bronx River Road UNIT 4J. But this apartment in Tudor City, 321 East 43rd St. Sunday, September 23rd 2018. 425 to 1. $225,000. The units are sponsor units. Schedule and attend closing. One Wall Street was the most searched project on Marketproof New Dev & Condo. ) The luxury condos at Greenwich West—with interiors designed by Sébastian Segers—have walnut cabinetry from Italian furniture company Molteni & C. 2 bedrooms. Sponsor Units NYC. So in Manhattan,. " The median monthly rent is about $1,400 for rent-stabilized units, compared with $1,845 for unregulated units, according to a recent city survey. 2 Bed / 1. 175%, however, the exact tax differs depending on the size and category of the home mortgage. 4 baths. ok, atelier, 42nd and awfully close to the hudson, windy but appealed to an awful lot of bubble buyers. Memos will be released regularly and will provide the public with accessible, useful information on. 66-92 Selfridge St APT 2E, Forest Hills, NY 11375. If a tenant didn’t buy, the sponsor of the co-op conversion, usually the building owner, retained ownership of the apartment and continued renting it to the tenant. . Co-op in Turtle Bay at 321 East 43rd Street #410 for $2,500. An Accessory Dwelling Unit (ADU) is a small, independent residential dwelling unit located on the same lot as your home. They're back: NYC buyers can expect more competition from foreign investors in 2023. 1 bedroom in Forest Hills NY 11375. $2,517 per ft². $330,000. Marketing for sale Sponsor (& Re-sale) Units in NYC. Pay a premium price for the. For 2-year renewals, the landlord can increase the rent 2. Homes similar to 100 Clinton Ave Unit 4A are listed between $190K to $3M at an average of $565 per square foot. 1 bathrooms. 1. The sponsor is simply the developer or builder of a new construction or re-development project. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place. 10024, Upper West Side, Manhattan Community Board 7, New York County, New York City, NY. No-fee rentals. OLE63914---. 2. These apartments are sold by the building’s owners or the corporation that established the co-op, and you get to skip the dreaded co-op board interview, making the process much easier—and faster. (Canada), Inc. 10457, NY. Featured Contains Video Rental Unit in Lenox Hill. . 1 bd; 1 ba; 900 sqft - Condo for sale. m. There's lots of new development in West Chelsea, including One High Line, which opened this year and has a one-bedroom sponsor unit for $2. 1 bathrooms. S,o yes approximately 2% but exactly 1. As noted above, prevailing wage affidavits must be filed for properties that have (1) 30 or more residential dwelling units and an average unit assessed value of more than $60,000, or. Similar to when buying in a new development, it is customary for the buyer of a sponsor unit to pay the New York State transfer taxes and New York City transfer taxes on behalf of the seller. One of the most desirable towers in Midtown East’s stately Tudor City complex, this 24-hour doorman building is equipped with on-site laundry and a 2,000-square-foot, recently updated gym with river views. 215-3- -th Avenue, Unit 2D. 2 results. NEW - 1 DAY AGO. 425% for apartments priced at $500,000 or more. Best and Worst NYC Amenities and Apartment Features. LISTING BY: DOUGLAS ELLIMAN. 825% for the transfer taxes and $2000-3000 for. Contracting in PASSPort. 2 bathrooms. Vacant Market Value - $164,000,000 Jan 14, 2019We have 28 properties for sale listed as sponsor unit jackson heights, from just $310,000. Residential Condominium Units , and NYC Dept. Find yonkers properties for sale at the best price. Thanks in advance for any input - apartment hunting in NYC isn't easy even when you WANT to move! posted by Neely O'Hara to Home & Garden (9 answers total) 1 user marked this as a favorite I can't speak to renting a sponsored co-op unit, but before I moved I would double and triple check that what your landlord is telling you about the. The short answer: it’s an apartment that has never been sold. 825 W 179th is a beautiful, Hudson River frontage, pre-war, 42 unit. Dear Board of Directors, It is with great pleasure that I write to you about my application to. Yonkers, Westchester County, NY . Sponsor unit westchester. In addition, tenants who are. Short answer: Yes. Upper West Side. 5 results. . $395,007. Unit 9S sold to an anonymous buyer listed as “70 Vestry LLC,” according to records filed with New York City’s Department of Finance. Kitchen with. 175% of the initial mortgage principal (includes a 1. Mostly, though, stuff just sat, gathering dust. com1. If you have any questions, please. ft revealed and Sponsor Refused to Refund Deposit if I Cancel the Purchase . A sponsor unit in a New York City co-op or condominium can be a real find: It means more privacy and less bureaucracy. 9% for sale prices of $25 million or more. “They’re few and far between,” says Sose. Which areas are you interesed in: Chelsea / Downtown. 625% and the City rate remains 0. New York Home values; Sellers guide; Selling options. Condo For Sale In Queens, New York. most of the time, you become like other unit owners. Well, not any more! A sponsor is the person or legal entity responsible for developing a new building or converting a building to a co-op, and a sponsor unit is an apartment bought directly from. In addition to the unbeatable location and fantastic building this one of a kind unit is offered from the sponsor and features hassle free purchase process without the need to meet with the coop board! Interested? Please contact Bart – 917. Hi, I'm looking to purchase a condo in Williamsburg, Brooklyn. (Furnished sponsor units were available at the private residences of Four Seasons Downtown New York, including fitness equipment, but those units have sold out. Redenburg. This one-bed, one-bath apartment features historical prewar details and it was renovated last August! This home has. Sponsor Units - CooperatorNews New York, The Co-op & Condo Monthly. There are many advantages as well as considerations to buying a sponsor unit in NYC. In the 1980s, when many buildings. Sponsor Units - CooperatorNews New York, The Co-op & Condo Monthly. 825% for those that go for $500,000 to $2,999,999, and 2. The OP needs to find out exactly which of units the sponsor owns. The Sponsor must post in the building information on the number of units sold for all tenants to see until the Offering Plan is declared effective or abandoned. The appeal of these sponsor units is that there is no need to comply with co-op bylaws such as board approval or right of first refusal and other perks of buying directly from a sponsor can be. in Upper West Side. At 30 Park Place — a Four Seasons-branded residence where units are listed for sale at roughly $4,000 per square foot — more than eighty of the building’s 157 units have been listed for rent. ~ CONTRACT SIGNED ~ Exclusive Newly Listed SPONSOR UNIT – NO BOARD APPROVAL: Spacious & Updated 3-Bd. Corcoran Group. Unfortunately, the same could be said of buying real estate in New York City: It’s different here. At 111 West 57th Street, also known as Steinway Tower, which launched sales in 2019, less than half of the 60 units have sold, according to Miller. 2 Bed / 1. 425% applies to sales above $500k. It discusses what sponsor units are, who sponsors them, and the adv. C. Many of the city’s most expensive, high-profile buildings have seen more than half of their units listed for rent on StreetEasy. Learn all the basics of NYC co-op and condo management, with straight. Doormen. 425%. Attorneys who specialize in this area write offering plans. No Board Approval needed. 88 results. Brick has found that listings of these apartments are up about 50 percent from before the pandemic. The sponsor is the person or entity who originally owned and converted the building from rental units to a co-op. That happened to Lincoln Towers, for instance. Landing a rent-stabilized apartment in New York City can be a lifeline for renters who would otherwise struggle to afford to live here. It has stainless steel appliances, white cabinetry, beamed ceilings, moldings, hardwood and tile floors, and several windows. $100,000. The ELIKA Team. Yes sponsor rights can be sold. How does one tell whether the sponsor still owns units in a COOP? Also, how do you find out the real name of the sponsor?But the pandemic has ravaged New York City’s real estate market and its premier, $25 billion development, raising significant questions about the future of Hudson Yards. Co-op in Forest Hills. 3. 2 beds. For condos, a developer may retain a sponsor unit. 1 bedroom in New York NY. 4 percent transfer tax to New York state. Not the formation of the actual construction but the organization that owns it. Amenities include a live-in super, laundry room, bike room, and garage parking. COOPERATIVE AND CONDOMINIUM PROPERTY 2023/24. • Quicker buying process: There’s no board review or interview necessary when buying a sponsor unit, which makes the buying process much quicker and easier. Gorgeous and. communal gardens and breathtaking city views. Since owners of co-op apartments are technically tenants vs owners of real property, the board of the co-op corporation which actually owns the building has enormous power over the residents. The Epic Journey of Building Construction in NYC: From Idea to Topping Out. 87 results. Subletting a Sponsor Unit in a Co-op. $325,000. NY. ↓. Roosevelt Island Apartments for rent. It is a mistake to sign on the dotted line unless you truly understand the particulars of buying in New York City, such as tax abatements, sponsor units, and the big one: The difference between a co-op and a condo. From the sponsor's perspective, since the sponsor has just laid out many millions of dollars for construction, once units start getting sold, recouping costs is of major interest. 600 sqft (on 2. Report. If you’re lucky, that may be lower, or you may be able to buy a sponsor unit. New York City co-op buyers who want to skip the board approval process have more sponsor co-op listings to choose from these days. 9 million. 1 Bed; 1 Bath; 750 Sq Ft; 100 Parkway Rd Unit 6D, Bronxville, NY 10708. 2. The Zippers conversion is a singular blend of. This typically involves the seller's NYC and NY state transfer taxes, and/or the seller's attorney fees. The NYC Transfer Tax is a new construction buyer closing cost of 1% for sales below $500k and 1. So, instead of buying your new apartment from the prior owner, you are buying it from the original developer or corporation who made the building. $2,500. . There are currently 38 condos for sale in Elmhurst, Queens, NY to browse through, with prices between $199,999 and $799,000. 240 E 76th St #15KL, New York, NY 10021. This Kips Bay one-bedroom, one-bath unit is in an investment-friendly co-op building, which allows subletting from day one. With 40 years of lending to buyers in New York City, NCB is the bank for co-ops. 8% for loans under $500K and 1. Find apartments with purposes only sponsor in Manhattan | 39 Sales. Five NYC Sponsor Units for Sale Right Now. They sold their unsold units (75) to another investor group in 2000. The offering plan is made up of two components: narrative and exhibits. The sponsor units fall under the Emergency Tenant Protection Act (ETPA) of 1974. Just note that while you save on the price, the monthly maintenance of $1,737 is on the high side. FOR SALE NOW. 295 million for a spacious "studio" with private outdoor space in the East Village. View listing photos, review sales history, and use our detailed real estate filters to find the. . Office of Teaching Initiatives 89 Washington Avenue Phone: (518 474-4661 Fax: (518) 473-0271 . This may be negotiable when it is a resale but less so if it’s a sponsor unit. 2 Bedroom Sponsor unit which has been totally renovated with a brand new kitchen with quartz countertops, white cabinets, tiled floor &. Zillow has 213 homes for sale in New York NY matching Sponsor Unit. The transfer of two adjacent condominium units by a sponsor, in a single transaction, is treated as the transfer of units combined at the time of sale and subject to tax as the sale of an individual residential condominium unit under Finance Memorandum 00-6REV. Typically, the sponsor (or developer), of a co-op building, will have many exclusive rights when it comes to an apartment that it still owns, including but not limited to not requiring board approval to rent the apartment. In this instance, the units are being sold by the condo developer. Broker Fees in NYC: Do They Still Exist? In May 2021, New York State affirmed that broker fees were legal. This sale has been saved by 71 users. The sponsor has been here for 30 years, since 1985. co-ops, and closing costs are the highest for new developments (also known as sponsor units). 4% for homes sold under $500,000, 1. 3 bedrooms. If a tenant didn’t buy, the sponsor of the co-op conversion, usually the building owner, retained ownership of the apartment and continued renting it to the tenant. Coop with Condo Rules Residence Six at 1228 Madison Avenue is a 3, 136 square foot, 4-bedroom, 3. 0 . 2 bathrooms. The COVID-19 state of emergency has made these requirements increasingly difficult to enforce for the DOL. New York. $369,000. 3 bds; 3 ba;477 contracts were signed for sponsor units in NYC. Coop sponsor units are generally known as "unsold shares" because of regulations issued in 1983 by the NYS Attorney General's office under the state's anti-fraud securities law, the Martin Act, I believe at 22 NY Code Rules and Regulations section 18. plan available from the Sponsor. There are currently 42 Sponsor units in the building and I want to know if there is any laws that would help us get the sponsor totally out of the building. Renovated 1 Bedroom Sponsor unit for Sale in the beautifully maintained Kimberly Gardens. C. 3. . Read the New York State Fair Housing Notice.