Cramped city dwellers often want to buy the apartment next door and combine units, but the borrowing process can get complicated
When it comes to combining dwelling units, two really are better than one. But expect higher fees and more paperwork.
Mortgages for connecting two condos or co-ops, or converting a multifamily to a single-family house, can be complicated. “It’s not the kind of thing that you take off the shelf,” says Mike McPartland, head of investment finance for North America at Citi Private Bank. [WSJ]