Is this a lawsuit I can bring against the agent?

[Lauren C.]

I purchased a NYC (cooperative) apartment that was listed as a 2 bedroom (and appraised as a 2 bedroom- like my place, the comps were 2 bedrooms, one large and one small). This was my first primary home purchase, and I bought it before I became a real estate investor, so I was clueless. I am trying to sell the apartment now, 6 years later, and I have discovered that my 2nd bedroom may NOT be a legal 2nd bedroom. It appears that the comps used for the appraisal all had second bedrooms that were legal (greater than 7-8 feet in width, depending upon whose definition you use), whereas mine has a width of 6 feet 10 inches.

The second bedroom was created by adding a wall between the kitchen and dining space by the previous owner. So when HE bought it, it was 1 bedroom, but the kitchen was very large.

(The appraisal is of course not a legal document and there is the disclaimer stating this.)

It seems that the seller's agent AND my buyer's agent have knowingly misrepresented the property. (Or, it's not real property, it's shares in a cooperative, but I think the same rules apply...?) They both stood to financially benefit from higher commission, because a "den" vs a "bedroom" would change the value significantly. This means I put a higher down payment, had higher closing costs, and there is a higher mortgage payment monthly for the life of the loan. It also means I would sell for a lot less than I purchased it.

The sellers agent had no fiduciary responsibility to me, but my buyer's agent did. He can't, as a licensed real estate professional, say he did not know the definition of a legal bedroom. He should have told me this and helped me negotiate a lower price, no?

Is this a legit lawsuit I could bring against him? Seems that any kind of statute of limitations would be a sort of delayed discovery thing (in other words, I couldn't have known until this very moment) but I'm not sure.

Yeah, I know- why didn't I look this up? It's because I walked through the apartment, asked him "Is this a legal bedroom? Because there is no closet." and he said "Yes, you don't need one in NY as long as there is a window." That is true, but turns out misleading. A full sized bed does fit and there was one in there at the time of purchase.