1 owner has majority of commercial condo units, do I run?

[Michael Fuoco]

Hi all - 

I have an opportunity to purchase one unit of an eight unit commercial condominium. I think it's a great deal. 

The bad news is that one person owns 5 of the 8 units, giving him majority votes. The building looks to be in good shape, but a dozen Belgian blocks have separated from the sidewalk, parking lot needs to be striped, there is zero landscaping, etc. All this makes me think that things don't get fixed because the owner has to foot 62.5% of every assessment. 

Is this worth pursuing by speaking to the majority owner, commercial attorney, or should I just run the other way?

Thanks for helping a newbie purchase his first commercial property.

- Michael

[Brian Ploszay]

Wonder why this owner wouldn't want to buy that unit?

I think you should take a pass on this.