Selling a NYC Building? Why Parapet Compliance Matters at Closing

When you sell a NYC building, buyers and their lenders check for open violations. A parapet issue can slow — or kill — a closing. Here's how to stay ahead of it.

What Buyers Look For

Due diligence includes a DOB violation search. An open parapet violation or a missing annual observation report is a red flag that can trigger price renegotiation or delays.

How It Stalls a Sale

• Lenders may withhold financing until violations are cleared
• Buyers may demand an escrow holdback for repairs
• Closing dates slip while paperwork gets sorted

The Fix Is Simple

Have a current, compliant parapet observation on file before you list. If repairs are needed, address them early so you're not scrambling under a closing deadline.

Selling soon? Get compliant before you list — (516) 591-3550, code PARAPET50 for $50 off.