“Furnished Rooms” on a C of O?

Categories: C of O

Does anyone know what exactly the terminology “furnished room” means on a C of O? We are in the processing of buying a brownstone that has one floor currently being used as SRO housing (3 apartments that share a common bathroom). The other floors are regular apartments (3 1-family units). I know banks won’t generally lend to SRO houses, but I don’t understand exactly what this “3 furnished rooms” on the 3rd floor would mean to an apppraiser. Two of these “furnished room” units have small kitchenette (burner/sink), but they could easily be removed (someone suggested this to avoid the appearance of being used as an SRO).

It total, it says the property is: “3 families and 3 furnished rooms; Class A multiple dwelling – converted.”

If anyone could help me decipher what this means, especially in terms of getting a mortgage, it would be much appreciated. Thanks.

By Gravy | 07/03/2008 2:30 PM