We enjoyed the article–and particularly the narrated slideshow–about the group of friends who got together to buy and renovate a 5-story, 6,000 square foot building in the East Village. In addition to the voyeuristic enjoyment, we were surprised at the lack of discord. For some reason, we have the impression that these types of ventures typically result in infighting and acrimony. We’d love to hear any first hand accounts from people who have teamed up with friends to buy a brownstone together. The pitfalls are many, but clearly there is some price arbitrage that can be benefited from.
Among Friends: Buying and Rehabbing a Townhouse [NY Times]