LNO and C of O's
I am looking to purchase a property, it was listed as a 3 family and is being rented as such. The C of O from 1930 lists it as a 2 family and a store. Can I get an LNO to make it a 2 family only or will I have to change the C…
I am looking to purchase a property, it was listed as a 3 family and is being rented as such. The C of O from 1930 lists it as a 2 family and a store. Can I get an LNO to make it a 2 family only or will I have to change the C of O? What kind of time and costs are we talking about?
Thanks
M
If the CO lists one thing and you want to do another, you have to change the CO with the DoB, which means you need plans signed and stamped by a licensed architect or engineer.
The person who currently owns the building is using it illegally as a three family and has not changed the CO. If you buy, you should have it as part of the conditions that they must supply you with an amended CO so you don’t have to go through the hassle (not that it is an enormous migraine to do so, but it’s a headache nonetheless).
BTW, this also means that the real estate broker is listing the property incorrectly. It may be currently used as a 3 family, but it’s not legally a 3 family unless the CO indicates it as such.
If the C of O is for a 2 family plus store then the third rental unit is not legal. If you will be using it as a 2 family, I would not bother changing the C of O, unless you are changing the C of O to get a residential rate on your mortgage, in which case I would bother.