Posted by John B. Corey Jr. on September 03, 2005 at 11:23:15:
You can do a TIC deal (NYC co-op is similar).
Though there are pockets where such deals exist you will find that TIC financing is difficult. Hence the property will not sell for full value compared to 5 legally separate properties. Both when you sell and when anyone tries to resell.
Hence it would not be the greatest of deals and if you go forward do not pay more then the property is worth as a 5 plex.
Chelsea Private Equity LLC