Here’s a house for sale on Giles Place. Can’t say I’m thrilled that this real estate agent is listing this legal 2-family as a house with 2 3-bedroom apartments, 1 1-bedroom apartment, and one studio. Can you say “overcrowded”?
http://www.trulia.com/property/1028980302-3408-Giles-Pl-Bronx-NY-10463
They are acknowledging in their own advertisement that the house is illegally configured.
And… um…. $689,000?
Yeah, $689K. Of course, if you’ve added illegal living spaces to the building, the income potential is increased (unless of course the Buildings Department prevents you from renting those illegal spaces). Basically, the sellers are trying to profit from their illegal actions, and the price will insure that the next owner will feel economic pressure to continue using the space illegally.
Kristin- Please get involved to some degree in the topic of Bronx Playgrounds, which will be featured at Bronx Parks Speak-Up on Feb.25th at Lehman College. Please contact me or Karen Argenti, OKay? Thanks, ***mricle***
I’ll be there!