Does anyone know what you have to do to officially combine 2 coop units with the City? The units were bought in separate transactions and have been renovated into one unit (one kitchen), but officially they are separate (2 maintenance bills etc.)

I'm thinking about refinancing all together under one loan, but I think I first need to officially combine -- or do I?

Having 2 mtce bills does not reflect whether the units have been combined into 1 w.r. t. building dept. Go online to figure this out. http://www.nyc.gov/html/dob/html/bis/bis.shtml

If they haven't been combined vis-a-vis the building department, you can still get one mortgage, but may have to put some $ in escrow that you get back when the job is closed out with the city.

Co-ops handle combinations differently. Some re-issue shares, some don't.

Why are you asking this here, when your managing agent is the one who knows, and will be processing the paperwork?

Mortgage Broker here with Wells Fargo.

Need some more info, but it should be doable.

Ellen Silverman
www.esfunding.instantlender.com

thanks!

I guess the real question is would I need to refi the combined apt, not just the one unit with the original (adjustable) mortgage. Early inquiries led me to believe that I would, since no one will issue a mortgage on half an apartment.