That's a valid point.The partition would be more of a temporary measure, once the back yard is developed the whole property should go into a condominium. 

Preferably condominiums?

Thanks for the notice.Exemption Conditions for Single-Family Homes and CondominiumsSingle-family homes and condominiums are only exempt from AB 1482 if BOTH of the following conditions apply:The property is not owned by one of the following: a real estate trust, a corporation, or an LLC with at least one corporate member.

It does not.Here is the complete, relevant statute (as amended):"Real estate broker" means any individual or business entity, including a partnership, association, corporation, or limited liability company, who, for compensation or valuable consideration, (i) sells or offers for sale, buys or offers to buy, or negotiates the purchase or sale or exchange of real estate, including units or interest in condominiums, cooperative interest as defined in § 55.1-2100, or time-shares in a time-share program even though they may be deemed to be securities or (ii) leases or offers to lease, or rents or offers for rent, any real estate or the improvements thereon for others, or (iii) sells or offers to sell, buys or offers to buy, or negotiates or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in any 12-month period.The newest language (in italics) refers to individuals or entities who DEAL IN REAL ESTATE CONTRACTS. 

The only people making money in NYC are the people that invested years ago or the people that are buying land and building the expensive condominiums on them.

Here is the detailed information:A condominium was purchased by Person A on 11/01/1986 for $52,700.On 11/7/2015, a real property was quit claim deeded by Person A to Person B as a joint tenant with rights of survivorship and Person C as a joint tenant with rights of survivorship.On 11/17/2020 person A died.On 01/17/2023 person B died.Person C (myself) will be selling the real property.I need to determine what capital gains I owe on interests I held and then the additional stepped up interests I acquired through survivorship.My analysis is as follows:The timeline for ownership interests is:11/01/1986 Person A 100%11/7/2015 Person A 33.33%, Person B 33.33%, Person C 33.33%11/17/2020 Person B 50% & Person C 50%01/17/2023 Person C 100% The tax implications are:1.

HB 1377 seems to state that DADUs would be able to be sold if it is condominiumized, not sure if that is an option for you or not but it looks like it will be an option soon.

This Mountain Modern condominium has high-end finishes in kitchen and bathrooms including heated floors and custom built-ins in the living room.

This Mountain Modern condominium has high-end finishes in kitchen and bathrooms including heated floors and custom built-ins in the living room.

I've also come across an article authored by a renowned attorney in Illinois Condominium Law (https://www.cai-illinois.org/liability-condo-associations-damages-caused-failure-common-elements/) which states that since the association neglected to address the masonry issue, which is a common element, they bear responsibility for damages to the limited common element and the interior as well.