Evaluating a 4 Family Brownstone Gut Renovation in Brooklyn

[Nicholas Sewitz]

Hi,

I have identified a 4 family complete gut renovation in a nicer part of Brooklyn. When I say gut, I mean it, there are holes in the floor and only 1 bathroom. Before I dive into this purchase was curious to get everyone's thoughts on what kind of due diligence I should definitely do before making an offer. My thoughts are do a rent analysis (for post renovations) and get some quotes from contractors.

I've reached out to a few contractors already to try and get some quotes, but most won't get into the details with me until after I have an accepted offer. If anyone has some ballpark range of what it costs to gut renovate a 4 family in Brooklyn (or similar) that would be amazing!

[Ahmed Saad]

If there's no C of O look for an I card. A lot of properties in NYC do not have a C of O but the I card should be sufficient. Google "NYC DOB BIS" and search. Also, if it has been sold in the past 20-30 years, or has a loan there will be history validating it IS or IS NOT a 4 family.