2 Years Revert to Residential?
I know that I’ve seen this topic pop up before on Brownstoner, but cannot find the reference. Hoping someone can help, though ultimately I know a real estate lawyer would have the scoop. Here is my question:is it true that if the commercial space of a mixed-use building in a commercial overlay zone (C1 or…
I know that I’ve seen this topic pop up before on Brownstoner, but cannot find the reference. Hoping someone can help, though ultimately I know a real estate lawyer would have the scoop. Here is my question:is it true that if the commercial space of a mixed-use building in a commercial overlay zone (C1 or C2) is used as residential/not commercially for two years it reverts to fully residential status? Would such a building then be able to be financed using a traditional home mortgage as opposed to a mixed-use mortgage? If anyone has had experience with this scenario, I would love to hear about it. Thanks!
Permitadvisor, thank you for your advice. I will certainly check out the Zoning Resolution Section 52-60. I had a hunch this might require changing the C of O, but was hoping it wouldn’t!
The ‘2 Year’ rule you cite relates to the discontinuance of a non-conforming use. Commercial would not be considered a non-conforming use in a C1 or C2 Commercial District. You could check out Zoning Resolution Section 52-60 “Discontinuance” for additional information. To go from Commercial to Residential, I believe you would need to amend the Certificate of Occupancy.