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building at 100 Remsen Street

Started by atlasnyc
over 9 years ago
Posts: 44
Member since: May 2007
Discussion about 100 Remsen Street in Brooklyn Heights
It seems there are several recent listings at this address. Any reason? Assessment? Another problem...A few of the units are vacant.
Response by Steve_BkHeights
over 9 years ago
Posts: 4
Member since: Feb 2014

It's a land lease that expires in 2043 - see this thread http://streeteasy.com/talk/discussion/40773-sale-at-100-remsen-street-5f

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Response by UES_Ida
over 9 years ago
Posts: 76
Member since: Oct 2015

Yep, unless the land lease has been renegotiated, you'll have a hard time getting a bank to approve a traditional mortgage (since the lease will expire before your 30 year mortgage will). We looked at this building in 2010/11 when there was ~ 32 years left on the lease and only one bank was willing to lend at that time, I'm sure the situation hasn't improved.

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Response by Brownstiner123
over 9 years ago
Posts: 3
Member since: Feb 2015

talk/discussion/30563-please-help-land-lease-decision

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