All Forum Posts by: Alex Furini

@Andrew T. Sure thing. That's what Bigger Pockets is for. Feel free to reach out directly if you have other questions. I'm in the same boat as you. Just finished a Brooklyn BRRRR myself. Best of Luck.

Alex Furini, RA

@Andrew T. In NYC the landlord is required to provide heat and hot water. Meaning the systems have to be working and able to supply those services. This does not mean that the landlord is required to pay for said services. Almost all newer small multi-families I have observed in the past 10 years have separate boilers and water heaters metered out to each unit. For many larger/older buildings the cost and headache to retrofit an occupied building is prohibitive. For smaller where you can utilize the types of systems mentioned here, the payoff is much shorter.

@Ahmed Saad

@Ahmed Saad

@Ahmed Saad

@Ahmed Saad is giving you great advice. You should weigh out all your options before replacing the unit in kind.

Based upon my experiences, oil is almost always more expensive per month than natural gas. Almost all new buildings I work on and most major renovations will opt for separate heat and hot water units for each apartment sub-metered to each tenant. Utility costs are only going to go up. Mini Split wall units are very popular and since they are electric and ductless, they are great for renovations. Another option is combi-boilers which are gas fired and provide both your heating and hot water in a compact unit located in your boiler room.

Best of Luck with your project,

Alex Furini, RA

@Marc Possoff, Zoning attorneys are a great resource, however it sounds like you are looking for a property feasibility report which would be prepared by an Architect. A zoning attorney really only deals with zoning issues and what you want is a review of code requirements, zoning requirements, any potential historic protections, easements, etc. I don't have have any philly Architect recommendations, but just wanted to point you in the right direction.

Best of Luck with your project,

Alex Furini, RA

@Joseph Niedermeyer, A HELOC is a great option in my opinion to BRRRR. That being said, you need to have extra equity in your home to pull a line off of. Just remember that HELOC's are adjustable rates, So always know and accept the risk that the rates may go up making the payoff more difficult.

Best of luck with your project,

Alex Furini, RA

@Devin Cutler, Many of these retrofit HVAC situations revolve around utility costs in your particular locale. That being said, I have rarely heard of a situation where oil heat is cheaper. If you are referring to electric baseboard heating rather than Hydronic baseboard heating, then my first inclination is to say that electric heat can be quite expensive as is the case in NYC. On the opposite side, if you can do solar, then it can be quite cheap. A happy medium would be to install the mini splits @Lynnette E. mentioned. These are AC/Heat electric powered exterior condensers with interior wall units. They can be very energy efficient and also an easier install for retrofits. Feel free to reach out if you have additional questions.

Best of luck,

Alex Furini, RA

@Jessica Morgan, changing from a single family to a two family is a great way to add passive income.

My advice to you would be to have an Architect determine what can be built on the property through a zoning feasibility study. R3X does allow 2 family properties as you mention, but you will need to comply with side yard requirements, parking requirements, set backs etc. All of these will have an impact on the final size/layout of the house. Also note that depending on your lot dimensions you may have more restrictions than the neighbors you reference. Once you have determined the feasibility of the project, your next step would be to get ballpark contractor pricing to demo and construct the new building.

Once you have both of these, you will be better educated to determine if the project is financially viable to you.

Feel free to reach out if you have any questions.

Best of luck with your project!

Alex Furini, RA

@Mark K.,

I agree with @Jason Lee, If they have Certificate of Occupancy (CO), then the building is approved for occupancy by the DOB. The issue seems to be with the department of Finance and the Tax Lot subdivisions.

While construction delays are common, unfortunately many new residential developments in NYC seem to get delayed more than other areas. Most issues I have witnessed with new construction condo purchases dealt more with incomplete construction, signoffs, and CO. Additionally, the goverment organizations are slow to move and tend to be bogged down by the overwhelming amount of development in the city.

Time is time no matter the delay, but rest easier knowing at least the big hurdles are past.

Best of luck,

Alex Furini, RA

@Veronica Taylor,

To convert a house from 2 to 3 family in NYC would involve a Alteration type 1 filing. Alt 1's require drawings to be filed by an Architect and a subsequent review process with the Department of Buildings. Depending on which borough and how busy the DOB is, this process can take a number of months. You also need to be the owner to initiate the filing paperwork.

Potentially, you could get the existing owner to start the job, but that may involve more complexity than you wish to undertake.

Feel free to message me if you have additional questions.

Best of Luck with your project,

Alex Furini, RA

@Elizabeth L.,

As a homeowner looking to an Architect, I would want to know an overview of what additional measures I need to comply with to complete the project. Construction estimates are one thing, but depending on your specific property there may be additional work required by zoning or code in order to complete the project. I.E. Do you need to add additional entrances for egress, sprinklers, windows, ADA compliance, fireproofing between floors etc. You should understand the typical time frame for design/filing/building department review and approval.

You want to make sure you understand all the soft and hard costs associated with the project. The more you are aware of, the less surprises in the future. Your Architect should be able to help you better understand estimates of the above.

Best of Luck with your project,

Alex Furini, RA