Today’s condo of the day–a half brownstone–is a good jumping off point for a more general discussion of owning a unit in a very small building. This place looks nice (but don’t look to hard–the gloss on those floors might blind you!) and the price for the North Slope doesn’t sound outlandish. We’d be very cautious about being one of only two owners in a condo building though. What if you have different opinions or abilities in terms of money to spend on common areas? What if one person stops paying his common charge? What’s the recourse if one of the owners creates other quality-of-life problems? We’d guess some of these things could be addressed in the legal documents but in the end it’s a bit like having a roommate. And even if you like the other person now, you never know who he could turn around and sell his place to. Thoughts?
Rare Half Brownstone [Aguayo & Huebener]