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Building upkeep at 39 Gramercy North

Started by UWSfan
over 4 years ago
Posts: 46
Member since: May 2009
Discussion about 39 Gramercy Park North in Gramercy Park
I am interested in buying in the building. Anyone know what major improvements have been done or need to be done? Things like boiler, hvac, roof?
Response by 300_mercer
over 4 years ago
Posts: 10570
Member since: Feb 2007

UWS. These are due-diligence questions your lawyer will ask the managing agent. You can safely assume in any old building, there are assessments. Financials may give you some color as well due to notes and ongoing assessments. The biggest question your lawyer needs to ask is Local law 11 (FISP) which typically leads to a large assessment every 10 years. And second elevator upgrades. Most lawyers will know. The selling broker/s may be able to get some of these answers if you are showing serious interest.

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