Updated about 4 years ago on . Most recent reply
Buying Bklyn MF illegally subdivided
I could use some insight on a house that could be great The house is in an appreciating neighborhood, in good condition and *Rent Stabilized (of course). Upon inspection, we find 2 parsed-out, additional rentals. Walls can be taken down, i know... but no COs so I wonder if I'd be responsible for work done before I take ownership, PLUS there could be immense expense of architects, permits, construction and time. One apt. is completely illegal because it has just 1 form of egress.
The basement has a kitchenette and bathroom.
We could buy, then restore to what DHCR has on file as far as Rent Registration... BUT, one tenant has been paying for an entire apt, while living in only part of it. NY's laws are such that overcharged RS tenants may receive 3 times what the rent should have been for as long as they've lived there.
Owner communicates only through agent and will not deliver empty- which makes me think he knows and I'll be responsible.
Is there a legit solution to be had? If there is, I'll buy the house and price in all I'll need to do, plus Legal =)