Forum Archive: Posts by: Shantigirl

Hello there,

I’ve run into the weirdest rental situation ever, and could use a reality check. I found a great place in Ft. Greene (my target neighborhood) super close to the park, brand new condo treatment in a floor-through brownstone, with a deck off the bedroom and a shared roof deck. In short, amazing amenities, and I’d love to rent it.

The problem is, it is in a condo renovation building and is the only unit of 4 that hasn’t sold. It is a 4th floor walk up, 1 bedroom, and has been on the market for $700,000 since February. I saw it as a rental but now am told that the owners really do want to sell, so the deal proposed is this: I still pay a 12% broker fee, and my moving expenses of course, and $2300/mo rent. After 6 months if it sells the seller would like to option to give me 2 months notice and pay my new broker fee. That’s it.

This seems crazy to me. To consider paying that kind of fee and all the expenses that come with moving knowing that i may only live there 8 months sounds ridiculous. By the same token, the thought that this will actually sell in these times and with that profile seems equally ludicrous. I’m having a hard time walking away as I really do love it as a rental & it’s the best thing I’ve seen and I’ve been looking for over a month, but it is super strange. Thus, I bring it to the awesome Brownstoner community. Thoughts?