Skip Navigation
StreetEasy Logo

building at 242 East 25th Street

Started by MichaelNYC
about 9 years ago
Posts: 26
Member since: Apr 2009
Discussion about 242 East 25th Street in Kips Bay
The maintenance seems is very high I think and the land lease is being renegotiated in about 7 years - can someone please shed some light both of these issues? Thanks
Response by DRNY
over 8 years ago
Posts: 3
Member since: Aug 2017

You should be really crazy to buy a condo in this building. I was interested in buying 242 East 25th St #9C, but I am glad that I did a little research: it is not just land lease issue that could raise you HOA fee up to the sky anytime. It is also illegally converted studio into 1 bedroom. There is no information about that change in the DOB right now and as soon as DOB will find out, you will have to pay $30,000 penalty, make a project with an architect for +/- $50,000, a lot of paperwork and legalize all these. So much headache. Good luck!

Ignored comment. Unhide

Add Your Comment

Most popular

  1. Why Are More Millionaires Renting?
    139 Comments
  2. burkhardt group
    16 Comments
  3. More on land leases
    42 Comments
  4. Leveling floors
    20 Comments
  5. What is the deal with Brooklyn
    24 Comments