When you start looking at condos in New York City, you’ll notice two common types of listings: sponsor units and resale units. The difference is straightforward — it’s about who is selling the apartment — but it can shape what your experience will be like as a buyer.
What Is a Condo Sponsor Unit?
A sponsor unit is an apartment being sold directly by the building’s developer. You’ll mostly see these in new developments, where the building is brand new and the apartments are being offered for the first time.
These homes are usually never lived in, finished with modern touches, and move-in ready. Occasionally, a sponsor unit might also appear in an older condo building if the developer held on to some apartments and is selling them later.
What Is a Condo Resale Unit?
A resale unit is an apartment that’s already been owned by someone else and is now being sold again. This makes up most of the condo market in NYC.
Every resale is unique. Some owners update their homes with new kitchens, bathrooms, or layouts, while others may keep them in original condition. This variety means you’ll see more character and a wider range of options compared to sponsor sales.
What This Means for You as a Buyer
Sponsor units give you the “brand new” experience. You’re the first owner, and everything inside is fresh and unused. The trade-off is that prices tend to be more set since you’re buying straight from the developer.
Resale units give you more choices. Some will be beautifully renovated, while others give you the chance to update and design the space your way. There’s also often a little more flexibility when it comes to negotiations.
Final Thoughts
Both sponsor and resale condos have their advantages. Sponsor units are perfect if you want something brand new, while resale units offer variety and the chance to find something with unique character.
At The Parviz Team at Compass, we help buyers explore both options every day. Whether you’re drawn to a sparkling new sponsor condo or a resale filled with personality, we’ll guide you through the process and make sure you know what to expect.
Thinking about buying a condo in NYC? Contact The Parviz Team today and start your search with confidence.
