Can't quite afford to buy an apartment ? Partners wanted for townhouse project.

My wife and I (an urban planner and lawyer (formerly of Borough Pres Markowitz office) are looking for partners interested in buying a lot or a townhouse to renovate or construct a 3 or 4 unit building. I have a number of properties of interest, and many of these involve pursuing a rezoning or variance. I have some skills and a dream, but don’t quite have the cash or all the expertise necessary to get a project like this off the ground. Hopefully you can contribute some professional skills and be someone we would want to build a home with! If we can find 3 parties splitting the costs and work is possible to save 20-40% on the costs of owning your own apartment!

Get in touch and let me know! (juddms@gmail.com) or post here!

Judd

briannarobinson22

in General Discussion 9 years and 9 months ago

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daveinbedstuy | 9 years and 9 months ago

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> @chemosphere
> Tenants in Common setups are much more popular in San Francisco. I don’t know why they never took off here.

Probably because New Yorkers are more paranoid, neurotic, difficult and litigious.

chemosphere | 9 years and 9 months ago

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Tenants in Common setups are much more popular in San Francisco. I don’t know why they never took off here.
I know somebody who did this successfully – 2 couples co-bought two fixer-uppers on one lot in South Slope. It can be done.

EJR | 9 years and 9 months ago

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Is there a reason you are interested in doing this other than for perceived cost efficiencies? As DIBS mentions, there are a host of major issues to contend with here, including creating a formal agreement governing ownership and usage rights with your partners. If you are interested in townhouse-style living, an existing co-op or condo in a small walkup/townhouse seems like your best bet, perhaps one that requires some work, since you seem interested in that.

daveinbedstuy | 9 years and 9 months ago

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If I may be so bold as to say, good luck with that. You are opening up at least 3 or 4 different cans of worms and none of them are appropriate for first time homeowners.