Thoughts on my crazy coop conversion idea

Firstly, I would be surprised if it made sense $ wise because in general we are seeing people take such properties and turn them into single family houses because that's where the value tends to be.
Secondly, over the past 30 years I haveseen many people try to pull this off but I'm only really aware of one instance where anyone succeeded, and it was all fairly high net worth individuals. and even in that case, there was in fighting and they ended up selling the project as opposed to finishing it an actually living there

Thirdly, as you surmised I think you would have a lot of trouble financing this project.

Ronwass, You are really talking about a pre-sold condo conversion.

Making it a coop is decreasing the value vs making it a condo by 15-20 percent.

Thanks for the thoughts everyone. Yes, converting to condo is a better idea. A condo with liberal sublet rules would definitely be more valuable than as listed.