Wall Street Journal, New York State Senator Brian Kavanagh, chair of the housing committee, is sponsoring a bill that would require residential co-op and condominium boards to provide a written explanation for why they turned down a given buyer. Boards would also need to have a clear and easily accessible application and acceptance policy and let applicants know of their status within 90 days.
While condos could also turn down a buyer for an unspecified reason, they are generally much more permissive to anyone with funds to buy. New York City co-ops, meanwhile, are particularly notorious for an exclusive approval system.