I want to buy a co-op and put it in a LLC, can I do that?

Asked by Tomc, Las Vegas, Las Vegas, NV Sun Jan 30, 2011

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Mitchell Fel…, Agent, Brooklyn, NY
Mon Jan 31, 2011
Hey Tomc,

If you are able to locate a "sponsor" owned apartment you may be able to do it.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Jan 31, 2011
Most co-ops, if not all, do not allow a purchase under an LLC--therefore check with management beforehand...
0 votes
Nirmala Cara…, Agent, Bronx, NY
Mon Jan 31, 2011
Dear Tomc,

To add to Charles and Mitchell's comments. I have not seen any Coop allow a buyer to do this. Some of my clients that purchase homes (single or multi family) do purchase their properties and put them in an LLC. You may also want to look in to Condos in the areas and see if they will allow you to do this.

Good luck.
0 votes
Charles D'Al…, Agent, Brooklyn, NY
Mon Jan 31, 2011
Most Co-ops will not allow an llc Check with the individual management companies you may find one or two ,but it is unlikely !
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Sun Jan 30, 2011
Dear Iomc:

Here in Brooklyn, the vast majority of co-ops will not allow you to purchase in the form of an LLC, corporation or trust. If you find any that do please let me know.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
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