Converting a 1 Family to 2 Family

I’m interested in buying a property for my family. It’s current c of o is for a single family. In order for the economics of the deal to work for me, I’d like to convert to a two family and rent out the bottom floor. What does a 1 to 2 family conversion entail, how much would it cost, and how long would it take? Thanks!

grover225

in Conversion 11 years and 1 month ago

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resident2 | 11 years and 1 month ago

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The economics will not work to buy a legal one to convert it to a two. If your economics are that tight, do not even waste your brain cells trying to work it out. Either think about do you really need a two family; is it just an in-laws apartment? Family member? or do you need the rental income? Second; work with a long time buyers broker that has been selling houses in the area for more than ten years that can help you work out if perhaps it is a pre-dated old law two family, that just because the current owner is living in as a one family, is still an old law two family. But the bottom line is, it has become much more expensive to convert a legal one to a two family recently. Look for a two family that needs work; it will be much cheaper.

arch007 | 11 years and 1 month ago

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We are presently working on getting plans approved for a 1-2 family conversion in Queens. If you do not have 2 off-street parking spaces you will need fire sprinklers. There are some fire rating requirements as well for the floors/ceilings etc. http://nyc-dob.com

shahnandersen

in Conversion 11 years and 1 month ago

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Is it an actual C of O or simply a FISA listing as a one family? If it has a real C of O, a formal change would require a filing of a set of plans, including probably installing a sprinkler throughout the building. If the building does not have a formal C of O, it might be easier, especially if it is (or previously was) used as a two family.