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May 29, 2008
Buyin a brownstone with no CO
I'm considering the purchase of a brownstone in Bed-Stuy with no CO (has been in one family since the 1920s), which has been used as both a four and a three family in recent years. I hope to live in it and rent the remaining units (either 2 or 3) - but I want to do it right. Has anyone done something similar- what will I need to do to get a CO (do I need one), what does that entail, and are there any good resources or books I should pick up?
Thanks.
Comments
I believe no C of O is needed for buildings built before 1938.
Posted by: guest at May 29, 2008 12:02 PM
You'll need to ask a real estate attorney, who can do a work-up on the building. As the other poster said, very old buildings typically won't have a C of O. Nevertheless, NYC real estate transactions often have a clause requiring that the property at least conform to C of O regs for its customary use and may require a letter from DOB attesting to that.
The sticky wicket will be if those apartments were added after the grandfather date (1938 sounds about right) because any change of use after then will require a C of O as a multi-family building.
If those apartments aren't legal, DOB could require them to be brought up to current code, which could be very expensive.
Posted by: Steve at May 29, 2008 12:52 PM
If there hasn't been any update of the electrical, and most likely even if there has, the electric company billing breakdown will give you an idea of what the original layout was...i.e. how many different units and which floors. Even when boxes are upgraded to circuit breakers, the utility is rarely called out to change the configuration to match that of the actual occupancy. Not sure if I am making myself very clear on this. Hopefully BrooklynFireAlarmGuy is reading and he can more clearly guide you through this.
Its one way of perhaps knowing how the building was grandfathered.
Posted by: daveinbedstuy at May 29, 2008 1:08 PM
Thanks - Let me see if I have you right. If it was used as a 4 family prior to 1938 (which we might be able to find out from the electrical system and billing information) then no CO is necessary, but we may have to conform to the requirements anyway for the deal to go through?
Some of this may have been done, the building has a fire escape, separate meters, circuit breakers, etc., I'm sure the inspection will clear some of it up.
ps - buyinG a brownstone
Posted by: jellystew at May 29, 2008 2:12 PM
The other thing to keep an eye on is that, for better or for worse a C of O that reflects that the building is more units than it is currently assessed as will have property tax ramifications above and beyond any DOB concerns.
Posted by: amanda at May 29, 2008 2:36 PM
You should first look up the property on the DoB website, which will tell you about permit history, current usage, etc. Look also for a letter of no objection, which is used for buildings with no C of O. If there is one, that is how DoB recognizes the building (be it one-family, four-family, etc).
I wish I could suggest a book, but this little bit I know I've gathered through many coversations and visits to the dept. of buildings.
Finally, unless you're all cash, the bank will be very interested in what kind of building it 'officially' is--and whether you will be counting on the income to pay your mortgage.
Good luck.
Posted by: curiositykilledthecat at May 29, 2008 2:51 PM
You don’t need a CO on those buildings! The building pre-dates a CO and there is a word for it… that’s escaping me… some kind of letter of acknowledgment of the manner in which it is used.
I have sold many buildings like this. However unconventional it is NOT an improvement to get a CO… often you have more flexibility the way it is and MUCH lower taxes.
Posted by: guest at June 1, 2008 11:34 AM
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