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Home Selling in Gowanus : Real Estate Advice

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  • Home Buying1
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Activity 2
Tue May 22, 2012
Martha answered:
I just sold an 8 Family building with no vacancies March 13th 2012 it closed for $1,250,000 and the rent roll was DHCR reg for $82,000 per yr all two bedroom apartments brick house 4 story rubber roof, gas heat the one drawback was the old electric they still had the fuses not the circut breakers

Each building is priced usually by its income or what it is reg for in the DHCR and its expenses no one will purchase a negative cash flow building unless they have other plans keeping a building vacant on your account having 5 empty apartments is a huge loss to you and really you would only keep one vacant to show and for owner if it will be owner occupied.

A brownstone or limestone house one or two family will go for much more than a building this size.
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Fri Jan 25, 2008
Gail Gladstone answered:
You need to speak with the town to see what their requirements are. Get an attorney who has a track record of conversions...she/he will be familiar with the regs and timing.
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