Question 1

Is lis pendens a public event for condo projects in New York?

Accepted Answer

Some aspects are public record, lis pendens filing filings are typically recorded in county or federal court systems. But the negotiation and sale process does not have to be public. OffMarketX intercepts these situations at the filing stage and facilitates a direct seller-to-buyer conversation before the asset reaches auction or broker marketing. That pre-public window is where value is created for both sides.

Question 2

What diligence should buyers do on condo projects under lis pendens in New York?

Accepted Answer

Standard commercial real estate diligence applies, title, survey, environmental, physical condition, plus catalyst-specific diligence: reviewing the lis pendens filing timeline, confirming lien position and claim priority, and understanding any court or servicer approval requirements for a sale. In New York, buyers should also factor in highest office vacancy in 40 years, $60B+ CMBS exposure, rent-stabilization pressure on multifamily. OffMarketX provides access to sellers who have already prepared the core diligence package.

Question 3

How does OffMarketX find condo projects under lis pendens in New York before they go to market?

Accepted Answer

We monitor lis pendens filing filings across New York through a combination of public records, CMBS servicer watchlists, and direct lender relationships. When we identify a qualifying condo, we reach the owner directly, typically within days of the catalyst event, and offer a confidential, principal-only transaction path. Most sellers in this position prefer that route over a brokered process.