sandpiperapp
Senior Member
- Joined
- Apr 5, 2011
- Professional Status
- Certified Residential Appraiser
- State
- New York
I have a 17x25 building on a corner of Sutter Ave. One level fully above grade has a LR, Kitchen and bath. Lower level that is fully below grade on the west side, property was dug out to form a courtyard on the Sutter ave side, and is above grade on the east and south side has three bedrooms and a half bath.
So there are no above grade bedrooms. VA says they have no requirement for bedrooms. Lender says they will lend if bedrooms are"legal conforming per zoning AND there is a demonstrated marketability".
I cannot find any reference to above grade or below grade requirement for bedrooms in the NYC building Code.
Anybody have any insight?
I was able to find a couple of sales of 450 sf and 550 sf. but they both had above grade bedrooms.
Even if the building code allows below grade bedrooms, how am I going to be able to demonstrate proven marketability?
So there are no above grade bedrooms. VA says they have no requirement for bedrooms. Lender says they will lend if bedrooms are"legal conforming per zoning AND there is a demonstrated marketability".
I cannot find any reference to above grade or below grade requirement for bedrooms in the NYC building Code.
Anybody have any insight?
I was able to find a couple of sales of 450 sf and 550 sf. but they both had above grade bedrooms.
Even if the building code allows below grade bedrooms, how am I going to be able to demonstrate proven marketability?