Podcast

Inside R&E Podcast — A New Era for Co‑op Sale Approvals: Local Law 2026/058

Inside R&E Podcast — A New Era for Co‑op Sale Approvals: Local Law 2026/058

Published 4/23/2026 at 10:25 AM

By: Michael A. Pensabene

– Inside R&E Podcast

In this episode of Inside R&E, Michael A. Pensabene, a Member of R&E’s Litigation Department, invites Tina Larsson, CEO of The Folson Group, for a conversation on the newly enacted Local Law 2026/058, also known as the Cooperative Application Timeline Law, which will take effect on July 28, 2026.

During the conversation, Michael and Tina explain what the law requires co-op boards to do in terms of their sale approval process. They discuss its implications and the effect it will have on co-op owners, shedding light on how the law aims to create greater transparency around board decision-making, as well as the potential pitfalls it may introduce. They also explore how co-op boards can navigate the law and manage the application process for prospective purchasers, with Tina drawing on her experience to offer practical insights. She also shares how The Folson Group has helped co-op boards stay on top of their application processes and minimize exposure to liability under this new law.

Michael A. Pensabene’s experience affords him the judgment to evaluate competing property interests and the business relationship between the parties, to know how and when to assert clients’ rights to achieve their objectives. Pensabene’s achievements representing clients such as the Hyatt Corporation, Trinity Real Estate, Forest City Ratner Companies and the Durst Organization are founded on these principles and were honed in a wide variety of forums, including City, State and Federal courts. Pensabene successfully tried one of the first cases concerning novel landlord and tenant issues resulting from the September 11, 2001 terrorist attack and set precedent concerning service of process. Pensabene’s expertise in connection with construction activities has ensured the timely completion of developments and the protection of neighboring property rights, including negotiating easements, work agreements, clearing development sites, and obtaining injunctive relief from the Supreme Court. He has also represented boards, shareholders, unit owners, sponsors and managing agents in a wide variety of disputes concerning complex co-op/condo issues.

Tina Larsson is the co-founder and co-owner of The Folson Group, New York City’s leading co-op and condo business consultancy. After helping her own co-op save $340,000, she and her husband, Mark Foley, started The Folson Group. They support NYC coop and condo boards in strategic advice, project management, cost reduction, and find them a property manager that fits their needs. She is the author of Living the High Life, frequent podcast guest and speaker, and holds a LEED Green Associate designation. Tina is on a mission to educate and support NYC condo or co-op boards optimize their buildings, because smart coop and condo boards don’t go it alone.

For any questions related to this episode, contact Michael A. Pensabene at [email protected] or (212) 551-8406. Tina Larsson can be reached at [email protected] or (917) 648 – 8151. You can also reach out to Tina and The Folson Group, or know more about her work, using the links below:

Stream the full episode, now available on Apple Podcasts, Spotify and YouTube.