Bringing New Co-Owners into my NYC Fourplex

[Cody Anderson]

• Friend of mine has owned a 4-unit brownstone in NYC for the last 20 years. She's on title with her partner and is looking to sell two of the units to the current tenants while at the same time removing the existing partner from title.

She's leaning towards having each buyer individual finance their purchase but is open to the possibility of seller financing. We're not entirely familiar with how the fractionalization of an existing property would work in NY specifically. 

Any advice/input from folks with experience would be helpful. Thanks!

[Basit Siddiqi]

Why do you want this property over another brownstone that would be for sale?

Are you getting a discount on this property?

Are you one of the tenants?(it is confusing from reading it)

I haven't heard of it, but I don't think you can get a loan to become a TIC from a bank.