Property Q&A in New York>Question Details

Jeffrey Cohen, Home Buyer in New York, NY

I looked at this unit and my real estate attorney told me that the building had serious development issues?

Asked by Jeffrey Cohen, New York, NY Sat May 2, 2009

He said that the developer had issues with the whole building leaking, and that there were other issues that led to no final occupancy certificate being issued for five years or more. Should I ever consider buying in this type of building? What happens if the building keeps leaking and my nice interior and furniture all get ruined? Does the developer really have any responsibillity to help me?

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Hi Jeffrey,
it seems as though there are no violations on record for this building for leaking but only a good lawyer can do a profound due diligence so if your attornet tells you somethinf is wrong perhaps you should move on or get something in writing from the developer covering possible future damages or consider an extensive home owner's insurance policy.
I've noticed 3 more similar properties within 2 block radious if you'd like to check them and compare apples to apples.
0 votes Thank Flag Link Sun May 10, 2009
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