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Re: Building parking lot?

Posted by Blue Zephyr on November 16, 2001 at 18:19:06:

In Reply to: Building parking lot? posted by jwskatz on November 16, 2001 at 14:59:12:

You need to speak to a lawyer and have him review all of the documents relating to your purchase of a condominium. You're correct that the sposor would not control the lot once a certain number of units are sold -- usually, a condo association comprised of residents would run things.

If the monthly lot charge is very high, it would seem that the simplest thing to do would be to just park your car elsewhere.

But whatever you do, read up about condo ownership somewhat, and discuss any questions you have with a lawyer before you proceed.

: I live in Brooklyn, NY. I was interested in purchasing a brand new, just built, condo. I would be the first tenant. The building has 26 apartments and an attached outdoor parking lot which fits 16 cars. The owner of the building told me that the parking lot, by law, must be a 24 hour attended valet parking lot. The owner is not selling the spaces, instead there would be a monthly maintenace charge to those who use the lot. The reason that I am asking is that the monthly charge is VERY high. He claims it is high because of the law that I just mentioned. The owner claims that he will not own the lot once the building is sold. Could anyone tell me if there is such a law? It sounds strange to me.

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