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This sound stupid, buy something

Posted by MikeW on August 27, 1999 at 13:20:58:

In Reply to: Is it legal 2 apts to be made into 1? posted by Judy on August 26, 1999 at 17:18:44:

Unless you're getting an insanely good stabilized lease on the two apartments, I can't see how this makes sense. Your talking about multiple tens of thousands of dollars in construction and bureaucracy. Buy a couple of small apartments and join them. Than at least you'll probably get some or all of your renov money out when you sell, and you can also deduct your morgage interest and taxes.

: I'm in the very initial stages of talking to my landlord about renting two adjoining rent stabilized apts in my building, knocking down part of an adjoining wall, and making it one apt. I will be paying for all construction. Is any of this legal? Do my significant other and I have to sign two separate leases? Does this require special filings with DHCR or elsewhere? My landlord keeps mumbling something about additional expenses related to city paperwork? Anyone know the score or where I can look into it?

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