24 Fifth Avenue
Started by lawyerhs
almost 11 years ago
Posts: 2
Member since: Jan 2011
Discussion about
Does anyone know of the current subleasing policy? I see a lot of previous rentals. I'm looking for an investor friendly building to buy a small apartment to rent out.
I've done deals in this building before, but I think of Ken Barkoff at Barkoff Residential as a real 24 Fifth specialist. Drop him a line.
ali r.
{downtown broker}
The condo plan is available for free here:
http://offeringplanet.com/offering-plans/
i have a friend who lives here. They amended the sub-lease policy a few years ago. It used to be quite liberal but the low owner occupancy rate was keeping banks from lending in the bldg so they changed it to 2 out of 5.
Villager is incorrect. The current sublease allowance is three years out of every five. They are strict about enforcing this policy. This is no longer an investor friendly building and you won't get board approval if you are purchasing to rent.