New York State Increases the Filing Fees for Offering Plans

Hidden in New York State’s 2025-2026 Budget Bill (the “Budget Bill”) are significant amendments to section 352-e of the New York General Business Law (“Section 352-e”), which governs, among other things, the required filing fees payable to the New York State Department of Law (the “DOL”) for condominium and cooperative offering plans and related filings.

Currently, and until November 4, 2025, the filing fee structure for condominium and cooperative offering plans and related filings is:

• For every offering not in excess of $250,000, the filing fee is $750;
• For every offering in excess of $250,000, the filing fee is equal to 0.4% of the total amount of the offering but not in excess of $30,000 (i.e., an aggregate offering price of $7,500,000 results in the maximum filing fee);
• For every offering plan amendment, the filing fee is $225; and
• For each application to solicit public interest or funds prior to the filing of an offering plan or for the issuance of a No-Action Letter, the filing fee is $225.

From and after November 5, 2025, the filing fee structure for condominium and cooperative offering plans and related filings will be (changes are in bold type):

• For every offering not in excess of $250,000, the filing fee will be $750;
• For every offering in excess of $250,000, the filing fee will be equal to 0.4% of the total amount of the offering but not in excess of $60,000 (i.e., an aggregate offering price of $15,000,000 will result in the maximum filing fee);
• For every offering plan amendment, the filing fee will be $750; and
• For each application to solicit public interest or funds prior to the filing of an offering plan or for the issuance of a No-Action Letter and any amendment thereto, the filing fee will be $750.

Developers and sponsors should make note of the approaching November 5, 2025 effective date of the filing fee increases, and be aware that offering plans and amendments submitted to the DOL on or after November 5, 2025 will be subject to the increased filing fee structure.

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Please don’t hesitate to contact us here with any questions or to discuss how these updates may impact your property or development plans.

Written by: Lloyd F. Reisman and Zachary C Rozycki, Co-Op and Condo Law Practice.