Co op board approval is one of the most intimidating parts of buying in New York City. Unlike condos, co ops require buyers to be approved not just by a lender, but by the building’s board. The process is subjective, document heavy and varies widely from building to building.

Here’s what actually happens.

What Boards Review

Co op boards typically evaluate:

• Debt to income ratio

• Post closing liquidity

• Employment stability

• Credit history

• Personal and professional references

• Purchase price relative to building norms

Boards want to ensure buyers can comfortably carry the apartment long term.

The Interview Process

Some boards require interviews, others do not. Interviews are not meant to negotiate price or terms. They are used to confirm that the buyer matches the financial profile presented on paper and understands building rules.

The biggest mistakes buyers make are oversharing, arguing financial assumptions or appearing unprepared.

Why Approvals Get Delayed or Denied

• Incomplete board packages

• Weak liquidity after closing

• Unstable income history

• Building specific financial thresholds

• Failure to follow submission instructions exactly

Boards are not required to explain denials, which adds stress to the process.

Preparation and precision matter more than personality.

—

Joseph Ranola | Five-Star Staten Island & South Brooklyn Realtor® (30 + Google reviews)
Associate Broker · Matias Real Estate | Founder · Bridge & Boro Team
Serving 103xx and 11209 / 11214 / 11228 | $25 M + closed volume
📞 917-716-1496 | ranolarealestate.com