George - Square Footage

And Boerum Hill becomes Cobble Hill.

The bigger concern is that this realtor is promoting an investment product (the house) without taking the steps required by federal law to promote investments legally. That can get realtors into all sorts of problems. Elliman's General Counsel needs to get off the golf course and back into his office.

George, Sorry, I do not understand the distinction between a normal sale typically advertised on Streeteasy vs this one. What makes this different besides the mis-representations?

The problem may be in the statement " Easy 30% profit margin ... " which, were this associated with the sale of a security, would be impermissible. Securities brokers (who must be licensed) are not allowed to make guarantees of future returns.

But, other than that, I'm not seeing anything particular egregious.

Thanks. That may be it besides trying to sell the square footage which does not exist yet.

Also, “approved condo plans” seems fishy. Does it mean by Attorney General? In that case, I would think it has to be sold finished as per the offering plan.

Careful realtors will not specify potential returns or make it look like they're promoting a profitable investment. It's not only illegal, but it exposes them to civil lawsuits if the promised profit fails to materialize.

Even when it is an investment, a professional will provide only a set-up sheet showing current rents, the last year's expenses, and maybe a quote from a contractor for renos. The buyer has to do the rest. In other words, the seller's representative shows only known facts about the past or current situation, not projections for the future.

Thank you George and Aaron. Once in a while I go to Loopnet, and almost all the sales are full of pro-forma projections and expenses are almost always understated by varying amounts. The resulting advertised cap rates are completely made up.

Loop is a little different because that's a site that only RE professionals frequent. Different when selling homes to the masses.

While Loopnet being a site for professional buyers is correct, that doesn’t mean selling brokers should blatantly lie in advertised cap rate.

And speaking of odd descriptions, what is half-bedroom? Floorplan rendering claims "3.5 bedrooms". Is that upstairs foyer consider half a bedroom. (ghastly floorplan overall, btw).

https://streeteasy.com/building/houston-house/maisonette