I own a cooperative unit in Brooklyn. A year ago, the original sponsor of the building sold his outstanding shares (51%), which he held on to since the building turned into a coop in the 1980's, to a single buyer. The buyer has assumed the role of "sponsor".
My question is this: Are sponsor rights transferable? Did this sale require review or approval from the AG's office? There are no amendments on file with the NY REFB.
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