Owner Strategy - Apartment Combination
Park Slope building — adjacent market-rate and rent-stabilized units
The owner proposed combining two adjacent apartments — one market-rate unit and one rent-stabilized unit renting well below market — to improve usability and long-term performance. The concept required careful planning, regulatory awareness, and precise execution to be viable.
I was engaged to evaluate the feasibility of the combination and to execute the strategy. My work included:
• Developing the combined apartment layout
• Advising on the scope and type of renovation
• Establishing appropriate pricing for the finished unit
• Positioning and leasing the apartment efficiently once complete
The focus was on ensuring the concept worked in practice — not just on paper.
Outcome
The completed apartment was leased successfully as a single rent-stabilized unit with a substantially higher legal rent than either apartment achieved independently, while remaining compliant with applicable regulations.
Examples are representative of advisory work. Details adjusted for privacy and compliance.