brooklynresident's Profile
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Author's Posts
February 8, 2010
Water Main and Insurance
Does the homeowner's insurance cover the replacement of water mains (residential and fire sprinkler's main). Also does a claim hike a the insurance rates in the future?..the 3" fire main bursted over the weekend and it is costing me 12k to replace. Please note that I dont have a heater in the house since it is still under construction.
January 29, 2010
4-Family Code Question
We are renovating a full gut 4 family house. We are installing fire sprinkling system everywhere in the building. Suddenly my architect is saying we need to isolate each floor by installing 2 sets of 5/8" sheetrock then drop the ceiling using 2 by 4s then the finishing sheetrock. Architect also said we can't use the bays between the old joists for anything like recessed lighting or wiring.This sounds crazy to me. Not only that it is costing us more money, it is also making the ceiling way lower.
Did anyone had to do a 3 or 4 family recently? did anyone hear of this building code?
your help is greatly appreciated.
January 10, 2010
Original Fire Place Mantles
We are in the middle of renovating our parlor floor and we are looking for a place to buy an original fire place mantle. Anyone with recommendations? thanks a lot
August 29, 2009
SROs & cert of no harassement
what does it take to totally get rid of the SRO status. Is a certficate of no harasement enough? can previous SRO tenants re-appear for new owners while still doing the conversion? also how does the letter of no objection come into place with all of this.
Feedback is greatly appreciated.
August 19, 2009
financing SRO conversion
Does anyone know how to go about financing an SRO conversion to 3 or 4 family. The current owner has a cert of no harassement. Any recommendation for banks or brokers that will do this type of loans covering ourchase price plus construction cost.
August 16, 2009
Financing a SRO Conversion
We are trying a buy a building in a good location and convert it from an SRO to a 3 family. The current owner manged to get a certificate of no harassement but he ran out of money. Most banks I contacted dont do the 203k loans or any construction + purchse loans for an SRO. It seems like we bailed them but they dont want to land.
Anyone with info on how to go about financing these projects and crietris for getting those loans, DTI, LTV, etc... Thanks everyone.
Author's Comments
I am doing a 4 family full gut reno, I have a really good team working with me. I had hit a lot of problems but with the right team, they are making it all possible.
Home loans: first meridian:(Steve Heartstein)718 732 0312
General contractor : Chuck Mareno 631 789 1300
Inspector :Joe Pasaturo from AVT enterprise 718 720 5088
tell them Alex from state st sent you
Posted by: brooklynresident at February 2, 2010 1:08 PM in response to Found a House! Now What?
Thanks a lot everyone. This was def helpful. Wilso26941's post was really good. We are going with the original 2 sheet plus dropping the ceiling. The rest is kinf of pricy.
Posted by: brooklynresident at February 2, 2010 12:53 PM in response to 4-Family Code Question
sorry I meant "criteria" above
Posted by: brooklynresident at August 16, 2009 3:36 PM in response to Financing a SRO Conversion
Please look around first. 47 St Marks Pl was sold on June 2008 for only 950K. It is a bigger and nicer house, it is also closer to 4th Ave rather than the projects.
I didn't know that the real estate market appreciated in the last few months during the credit crunch and the stock market meltdown.
After years in the real estate business, I find betancourt more than exagerating. I think this is a 950K property.
Posted by: brooklynresident at October 26, 2008 6:35 PM in response to House of the Day: 18 St. Marks Place
Responses to Author's Forum Comments
You need to check out non-traditional lending institutions. Try Meridien on the corner of 7th Ave and 9th Streets.
Posted by: tiptoe at August 18, 2009 3:39 PM in response to Financing a SRO Conversion
jerry Fenney is a great lawyer
212 842 0237
Alex G from state st
Posted by: brooklynresident at February 2, 2010 1:09 PM in response to Found a House! Now What?
Try our Renovation Coaching Service. You can read more about it here.
http://www.allrenovationllc.com/services.html
We are current working on two gut renovation projects, one is a townhouse is in Manhattan and the other is a brownstone in Park Slope, Brooklyn. If you would like to visit the sites and ask me questions I would be more than happy to help.
If you have any other questions please feel free to call me at the number below.
Pietro Calabretta
All Renovation Construction LLC
718-351-4099
http://www.allrenovationllc.com
Posted by: allrenovation at February 2, 2010 2:49 PM in response to Found a House! Now What?
Hello NGD - if you are not content using any of the firms/service providers noted above give me a call.
I am a former architect that now focuses on rehabilitating multi-family brownstone properties. Over the past 3 years I have converted a 3-family to a single-family, a 6-unit rental bldg to a 4-unit condo and a 9-unit co-op to a 4-unit rental building - www.24remsen-bre.com.
I have also worked as an appraiser in Manhattan - appraising over $250MM of co-ops, condos and single-family townhouses.
Furthermore, I am a licensed real estate broker. And contrary to some of the comments above there is significant value in having someone represent your interests in a transaction of this magnitude. There is no additional cost to you to bring a buyer broker on board. Without one, no one is your advocate in the deal.
So give me a call at 917-568-6525 if you think I might be of assistance.
Donald Brennan
www.myhomebrooklyn.com
Posted by: Donald Brennan at February 2, 2010 6:06 PM in response to Found a House! Now What?
There is some great advise above. Contrary to what donald said, a good RE attorney will more than represent your interests.
By very, very upper west side - do you mean Harlem or WH? There are some beautiful buildings there! Do some research on the building class, use and taxes. If you are going to make major changes, it could be a factor in the overall costs and future costs of carrying the building.
NYC.gov or propertyshark.com is a great place to start. Propshark is not always accurate with its info.
Posted by: pig three at February 2, 2010 8:13 PM in response to Found a House! Now What?
i think you should see the house at first ,then decide to buy or not !
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Posted by: lele0124 at February 3, 2010 1:37 AM in response to Found a House! Now What?
Though it looks like a number of people have beaten me to the punch here, we'd be happy to talk to you and maybe do a walk thru. We've renovated a number of townhouses in Harlem for ourselves and have done major upgrades/renovations to larger multifamily buildings in Washington Heights. I also run and manage a chat group focused on Harlem home owners which boasts over 1000 subscribers.
Give me a call and let's chat.
Michael Vinocur
Building Equity LLC
631-680-9368
mvinocur@buildingequitynyc.com
Posted by: buildingequity at February 3, 2010 3:30 PM in response to Found a House! Now What?
jerry Fenney is a great lawyer
212 842 0237
Alex G from state st
Posted by: brooklynresident at February 2, 2010 1:09 PM in response to Found a House! Now What?