Can’t scrape together a down payment? Now your monthly rent checks can go toward one, writes our own Gabby Warshawer in The Real Deal this month. The model is called rent-to-own, and a few Williamsburg buildings, including the Decora and the Toll Bros.’ Northside Piers, are offering it, along with Fort Greene’s Forté. Gotta make up your mind fast if you want to stay, though. “The fine print on an advertisement for a rent-to-own unit at Northside Piers noted that 100 percent of the rent will go to closing costs if the tenant commits to buying the unit within six months, while 50 percent of the rent will go to toward closing costs if he or she decides to buy six to nine months after a lease is signed.”
Buying a Condo, One Piece at a Time [The Real Deal]
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