JoeGermade
Junior Member
- Joined
- Oct 4, 2004
- Professional Status
- Certified Residential Appraiser
- State
- New York
I came across a thread from last year an it didn’t have much information in it. I was curious if anyone else came across one of these? I am doing a HDFC in bed-sty and actually have 2 resales in my building and a few in the immediate neighborhood. All of these buildings are self managed which is the plan of the HDFC co-op. It is impossible to find out any information on the other properties.
My biggest problem is that I can not confirm the owner as the owner. Acris only gives the president of the co-op board on the original deed. The 2 recent sales are on acris with the new owner’s names but I have no owner for 3 of the additional units.
It is also to my understanding from much research on many RE forums that people are blowing of the low income rules and subleasing these properties for market. HPD is not enforcing the rules. If you look in Manhattan they are listing studios for $499K and stating in the ad that you can not show more than a $60,000 income.
My biggest problem is that I can not confirm the owner as the owner. Acris only gives the president of the co-op board on the original deed. The 2 recent sales are on acris with the new owner’s names but I have no owner for 3 of the additional units.
It is also to my understanding from much research on many RE forums that people are blowing of the low income rules and subleasing these properties for market. HPD is not enforcing the rules. If you look in Manhattan they are listing studios for $499K and stating in the ad that you can not show more than a $60,000 income.