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Pros/Cons of Buying Rent Stabilized Conversion?

Started by NYNewbie
over 15 years ago
Posts: 2
Member since: Jan 2011
Discussion about
Seeking advice from all the great posters on Street Easy: We are new to the NYC market and want to buy in a building that was converted but only 50% have been sold to owners. The remaining units are "rent stabilized" and not sure what that means. What are the pros and cons of buying in a building like this? Will reserves and maintenance be an issue? Will there be a board?? Any insight appreciated!
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