Brick Underground

Breaking down the cost of a 4,000-square-foot Park Slope townhouse renovation with Bolster —The final cost was $1,800,000, or $450 per square foot.

Whether you've got a townhouse with a separate rental unit or an investment co-op or condo, you will have some additional considerations when selling with a tenant in place.

“Before you get involved in requesting an audit you should have an accountant or someone with a strong accounting background to review the building’s financial statement to see whether there are in fact discrepancies or if it is simply a misinterpretation of the numbers,” says Steven Wagner, a partner at the Manhattan law firm Wagner, Berkow & Brandt who represents co-op and condo boards and owners.

Bolster, a New York City design-build firm, helps an Upper East Side couple gut renovate their co-op through Covid, building restrictions, and material shortages.

Co-op and condo board election results are typically returned within a couple of days. In many cases, the balloting is handled by an outside company with experience conducting elections for both co-ops and condos and other entities such as unions. Shareholders or owners should be informed if there is any reason for delay. 

A new survey from LendingTree found that three in 10 sellers admit to using a hidden camera during open houses. Most said it was to gain insight into what buyers do and don’t like about the property.