Fine print in Offering - legality of bedroom

Sorry, I should also state that otherwise, this unit would then be considered a studio. The lofted space was to be the ideal place for the bed. Thanks

pkmyc: You can put a bed anywhere in your apartment.
A bedroom needs to have ventilation, a window.
Most renters would like a closet in the bedroom; or at least sufficient closet space in the apartment.

If you're buying with a plan to rent it out in the future, purchase a one-bedroom apartment.

I don't think there's a problem with the "fine print." A loft space may be used for sleeping (or as an office or anything other kind of living), but it is not considered a bedroom in New York City. My knowledge is a bit rusty because I haven't worked in the RE business for several decades, but I don't think the definition of a room in NYC has changed much. Others can correct me if I'm wrong.

To my knowledge, a room other than a kitchen or bathroom for purposes of the multiple dwelling statute (and also for major capital improvements) is a minimum of 96 square feet, enclosed on at least three sides, with separate heating unit and ventilated by a window of a mandated size. While a loft space for sleeping may be convenient, you can only rent this place out as a studio. You can find the statutory information online. I wouldn't buy this apartment thinking it's a one-bedroom no matter where you plan to sleep.

Is it a Scarano-designed building? He's (in)famous for adding mezzanine levels just under 8 feet to trick the DOB into approving buildings much larger than zoning allows.
Anyway, as to your question, you're buying a studio with a storage loft. You'll be fine renting the same. As far as selling, you and your broker are pretty much immune from lawsuits about misrepresentations, as NY is a caveat emptor state.

Yes, Maly is correct about being immune to lawsuits for misrepresentation since the burden is on the buyer to do his or her homework. The courts have said that, presumably, the buyers would not have entered into a contract of sale if they found something that was misrepresented. A case that went on forever through the NYS courts was Joseph v. NRT Inc., in which two Corcoran brokers managed to convince the buyers that a legal one-bedroom condo was a three-bedroom condo. Both buyer and seller in this case were represented by Corcoran (aka NRT Inc.) No surprise there. The buyers saw the apartment half a dozen times, received the offering that said it was a one-bedroom, neglected to have any professional inspect the apartment, and then sued later for misrepresentation. So yes, you could always market it as a one-bedroom in the future and hope you find an ignorant lazy buyer without a lawyer, but that's a gamble.

Interesting, generalogoun. To your knowledge, is there any case where brokers have been on the hook for material misrepresentations? In my understanding, the law and jurisprudence in NY is very well established: short of outright fraud (like forging fake documents to fool the buyers), brokers are not accountable for incorrect descriptions or false representations.

"is there any case where brokers have been on the hook for material misrepresentations?"

I don't know of any, but my knowledge in this area is not great. I think it shakes out to be what you said -- caveat emptor -- because here in NY we want prospective buyers to be represented by competent counsel, read the fine print and have the premises inspected before buying. In the Joseph case, if the buyers had read the documents, hired a lawyer, even had an architect or engineer go through the apartment, they would have learned it was not a legal three-bedroom and, one assumes, would not have bought the place.

What interested me about that case was the brokers' actions and the fact that they came from the same brokerage. I've wondered whether a breach of the agent's duty to the buyers might have been a more productive legal argument than fraud/misrepresentation. But hard to prove, I suppose.

Getting back to the OP's case, you're completely correct that he or she could market it as a one-bedroom. There just might not be many prospective buyers. But, as they say, even a blind pig finds an acorn every now and then.

It depends on the mezzanine space. Does it have a window? A closet? Is it open to below? If so, could it be easily closed off?

We have two mezzanine rooms. Most people would say one of these rooms is a bedroom, though it does not meet the legal definition because of ceiling height. The room has a window, closet, adjacent bathroom, and can be closed off to the downstairs. The other is clearly not a bedroom. It has no window and is fully open to the downstairs.

The apartment was marketed as "one loft bedroom plus den," which I think is a fair description. Calling a five-room apartment a studio seems silly.