Skylights and roof rights
I live in the top floor of a co-op and want to add a skylight. Do I have to buy the roof rights for the space used? I’ve gotten different opinions.
I live in the top floor of a co-op and want to add a skylight. Do I have to buy the roof rights for the space used? I’ve gotten different opinions.
I’m looking at a coop for sale in NYC that comes with roof rights up front in the deal. According to the listing agent, the coop board is also ok with skylight additions. (They are even OK with construction of a staircase from living room leading up. The current way up to roof is via a ladder and hatch, of course. Not very convenient)
So that’s the good news.
Now, I’m wondering what the common cost (range) is of skylight construction. Anyone have any experience with this? Is it common?
“Roof rights” will only be attractive for me based on the cost estimate of skylight construction.
Hi.. I am a real estate consultant and appraiser dealing in unique issues such as this.
The posters are correct: the coop board has wide discretion on how they approach this.
Some boards simply allow skylights feeling the roof is useless (worthless) space to the cooperative, and they simply permit installation.
However, most expect some payment plus the issuance of new shares to reflect the space occupied by the skylight [or, as the case may be, air conditioning equipment, etc.].
The coop’s attorney must review the proposal. Most often an appraiser will then be engaged to estate the value of the space acquired based on usage and lost, potential value of the space. The appraiser will calculate the new shares to be issues and then prepare a Letter of Reasonable Relationship regarding the space. This letter is sent to the NY Attorney General’s Office by the coop’s attorney so that a “No Action” letter will be issued.
Remember, the cooperative corporation ultimately owns all the units and all the spaces within the building. Along with this comes liability and responsibility to all shareholders.
Especially during economically difficult times, cooperatives and condominiums are eager to maximize potential income from special sources such as this.
Hope this helps a bit. Good luck.
Bob
So far you’ve gotten good advice. The short answer is; you’ll probably have to do whatever your board says. But!! Check your coop contracts and proprietary lease. Some coop plans give exclusive (or semi-exclusive) use of the roof to the top floor owners as a “sweetener” to sell a top floor in a walk-up. If that’s the case you can’t build an additional room, but often a small deck or other minor, reversible change could be made. You would still need to get an okay from your board, and a favorable contract is only more ammunition, not a guarantee. If they require a presentation go armed with plans, diagrams brand names, etc. and stress the small size of the skylight and minimal impact on the building and it’s structure. You may need an architect if the board requires it, but often a licensed contractor is enough. Good luck!
Whatever the co-op says you need to do.
I think that the answer would have to be “YES.” This is because you would be altering the roof so that you (by virtue of the skylight) had private use of that part of the roof, thereby denying others the use of it should the building decide to make a roof deck or whatever. In a small building, out of the way place, your neighbors might go for it, though, without amending the proprietary lease–sorry to say, though, I wouldn’t go along with it. I wouldn’t go along with it as a freebie, simply because skylights have a tendency to leak, and if you add the skylight, any responsibility related to possible leaking should be your responsibility.
That being said, sounds like a great idea, and I wish you luck!