Posted by Jack Doyle on December 11, 2004 at 12:02:29:
where can I find more info, i.e., legal issues (KY SC NC), financing, economics, practical considerations, on condo conversions
Condo Conversion - Posted by Barbara
Posted by Barbara on September 03, 2003 at 08:52:26:
I am interested in buying a 6-unit building in New Jersey in order to convert the units to condo. Currently, the building is rent controlled. Does this add any additional complications in terms of tenant removal? What actions can a buyer take in this situation?
Barbara
Re: Condo Conversion - Posted by William Bronchick
Posted by William Bronchick on September 04, 2003 at 07:13:44:
Condo conversions are very expensive, and rarely worth it on small buildings. If the building is rent controlled, you will have to cash bribe every tenant to leave. I can almost guarantee you that 1 of the 6 will hold out for an unreasonable sum of money!