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No TCO or CO

Started by 123
over 4 years ago
Posts: 0
Member since: Aug 2019
Discussion about Element at 555 West 59th Street in Lincoln Square
Am trying to buy in the building but it seems the TCO (temporary certificate of occupation) has expired and there is no CO (certificate of occupation). Is anyone able to shed and light on this please? Thanks
Response by 300_mercer
over 4 years ago
Posts: 10570
Member since: Feb 2007

The seller via the managing agent should be able to give you time line for TCO reapproval. It is usually a quick process taking less than 4-6 weeks. It is not unusual for a building to only have TCO years after completion and banks will finance such buildings. You also need to ask the question why building does not have permanent CO and what it will take to get the permanent CO including $s. The building doesn’t have a permanent CO as there is some incomplete business from DOBs point of view.

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Response by Admin2009
over 4 years ago
Posts: 380
Member since: Mar 2014

A good managing agent can help with this info

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