Post-Closing Liquidity
The liquid cash a co-op board requires you to have left over after paying the down payment and closing costs, typically 12+ months of maintenance and mortgage.
Last updated: August 12, 2026Also called “post-closing reserves.” NYC co-op boards don’t just check whether you can afford the down payment and closing costs; they want proof you could keep paying maintenance and your mortgage for months afterward if your income stopped. That means a chunk of your liquid assets has to stay untouched after closing, not spent on the purchase. Only genuinely liquid holdings count (cash, high-yield savings, brokerage accounts); retirement accounts are generally excluded.
Formula: Required reserve = Reserve months × (Monthly maintenance + Monthly mortgage payment)
Worked example
A $700,000 co-op with $1,500/month maintenance and a $3,200/month mortgage payment, at a building requiring 12 months of reserves: 12 × ($1,500 + $3,200) = $56,400 in liquid reserves, on top of the down payment and closing costs, and untouched by either. Conservative or luxury buildings can require 24 months, doubling that figure. See the co-op reserve guide for what counts as liquid, or run your own building’s numbers on the Co-op Calculator.