1:46 PM 04/16/2012
Considering buying a brownstone in Brooklyn. Property has no C of O, which I am told is not uncommon for a house of its age.
Property is currently being used as 2 family but is taxed as single family.
In this scenario, if I want to get a C of O for the property as 2-family, so I can get a tenant, what is the process I'll go thru/what difficulties can I expect?
If all of the other elements of a two-family structure are present (e.g. two meters for gas/electric) then you should be able to get a letter of no objection for it being used as a two family house. Before that (applying for the LNO) you should apply to the department of finance to have it recognized as a two-family dwelling. If you have additional questions don't hesitate to contact me -- my info is in my profile.
2:13 PM 04/16/2012 | 0 Votes
As Mike will surely tell you, the alt-1 process is costly (many thousands of $) and involved. From an architectural perspective, if the property is already being used as two family, unless you want to do major renovations you are probably better off just leaving things as they are.
You can always get a plumber in to rework the gas connections to each meter. Installing a sub-meter in the tenant unit is also possible, but will require rewiring.
5:49 PM 04/16/2012 | 0 Votes
Check HPD info, see what's on the I-card.
8:30 PM 04/16/2012 | 0 Votes
ALT-1s aren't cheap, but if the unit isn't fully recognized as a two-family you *could* run into issues with getting the mortgage, homeowner's insurance, evicting a tenant later on, future renovations that require inspections, etc.
If it has historical use as a two-family (and not some flipper who told the next buyer they could do it) then try for the LNO. Otherwise, if you need the income from the unit and the lessee isn't a relative (or someone else you know and trust), spring for the conversion.
9:17 AM 04/17/2012 | 0 Votes
Klarkash- I think we may be interested in the same house. I'm running into the same issues with a house I just put an offer on yesterday.
4:08 PM 04/17/2012 | 0 Votes