Hi, any advice on the Athorp Broadway?
Started by Viran
about 17 years ago
Posts: 28
Member since: May 2009
Discussion about
If I am a cash buyer, will I get a good deal? What happens if the building can't be converted?
If the conversion falls through, you get your deposit back. Or let's say the owner will owe you the deposit.
You'll want to get occupancy when you sign the purchase agreement. Play your cards right and you could end up with a stabilized lease.
Hi NWT, thanks for your input. Will a lawyer be the right person to help me, or a broker?
I don't know. Might not be worth a broker's time, since they're not getting recompensed until a closing that might never happen. You definitely need a lawyer with experience in condo conversions, to make sure you end up in the apartment, on good terms, no matter what happens with the conversion.
Easiest question of the day. Here are the guys you want:
http://www.hmgdjlaw.com/contactinfo.asp
Ask for Billy or Kevin. As far as I can see, there's no apparent conflict with their work for the Tenants' Association.
They'd be perfect.
It must be an interesting Tenant's Association. There's at least one tenant who's a principal of a co-op sponsor. Ain't NY grand?