u/Blackdiamond27x

OTD 50,100 (all fees, taxes, registration, etc). New York.

Hybrid, titan green, sel prem, 7 passenger.

Decent offer or no?

Update: I was lied to and all the offers for OTD I’m getting are 55k now….

I heard some banks do it, i’m not sure if it’s free or if you need an appointment and I need mine done tomorrow.

If anyone can help would be appreciated!

**just booked a free appointment at TD bank tomorrow. Thanks!

I bought 365 pass for this past winter expecting it to cover this summer. Guess I didn’t read the fine print…..

Heading up to the mountain this weekend. Anyone have extra vouchers, please?

I'm looking for advice from people who own or invest in NYC multifamily buildings.

A family-owned 6-unit building in Queens is under contract to be sold, but I'm considering buying out the other owners instead. It’s selling for

Some details:
- All 6 apartments are rent stabilized.
- it’s a prewar building that needs work.
- two apartments are currently vacant.
- one tenant hasn't been paying.
- i live in one of the apartments.
- 2 apartments pay less than 1k a month
- Most of the rents are well below market because they're stabilized.

My hesitation is the 2019 rent law changes. From what I've read, I can't just renovate vacant apartments and charge market rent, so I'm trying to understand whether buildings like this are actually good investments.

My plan would be to:
- Continue living there.
- Renovate the vacant units.
- Improve the building over time.
- Potentially sell it in 5–15 years if it makes financial sense.

My questions are:
- Would you buy a building like this or walk away with the ~10% ownership payout (70k ish before taxes).

- Why would a realtor even make an offer on this if it’s such a bad investment

- What due diligence would you do before making a decision?

- Is the value in these buildings mostly long-term appreciation, or is there still a realistic path to increasing income?

Looking for opinions from people who have actually owned or invested in rent-stabilized NYC buildings.

A few years ago, my partner and I moved into an apartment owned by someone who was very close to our family. We signed a lease and paid rent consistently for several years in nyc.

Location: NYC

Recently, after the owner passed away, attorneys/property management reviewed the building paperwork and discovered multiple units are rent stabilized and apparently some registrations/paperwork were not handled correctly for years.
Everyone is now getting new official rent stabilized renewal leases with recalculated legal rents.
Our rent dropped by almost $500/month under the corrected lease. Some other units only changed by small amounts. We also learned at least one other tenant received a reimbursement check for prior overpayments after the recalculations.

What’s confusing is that nobody has discussed reimbursements or prior overpayments with us, even though our rent adjustment was one of the largest in the building.

Some additional context:

there were occasional concessions/free months years ago,

the previous owner managed the building very informally,

the current owner seems overwhelmed and financially stressed,

and my siblings and I inherited a minority ownership interest in the property itself (though we are not involved in management or monthly finances).

I’m not trying to start a lawsuit or escalate things. I mainly want to understand:

Is it normal for some tenants to receive reimbursement checks while larger discrepancies remain unresolved?

Does receiving a corrected stabilized lease generally imply there may have been a prior overcharge?

Should this issue be raised directly, or is it common for these things to be addressed later?

Does inheriting a minority ownership interest complicate or weaken a potential reimbursement/overcharge claim?

Mostly looking for perspective from people familiar with NYC rent stabilization rather than aggressive legal advice.

Edit: FYI - I did the math and the delta on how much we “overpaid” is 22k over a few years.