LEASE TO OWN YOUR CONDO
Build equity in your condominium with every rent payment by leasing to own, before you buy. With a new amendment to the condo offering plan, 2600 Seventh Ave is now able to offer a one year lease to tenants who are interested in eventually purchasing their condo. At lease signing, only the first month’s rent and security deposit are due. There is no purchase money required at lease signing.
Tenant/Purchasers will be able to apply 50% of each month’s rent payment to their purchase price. Tenants will have up to ten months to be sure about their purchase and arrange financing if necessary.
In the eleventh month (or at any time before), the tenant/purchaser would provide a 5% purchase down payment and schedule their closing. If they decide not to close on the purchase, they could simply renew their lease and continue renting if they choose.
The full terms and conditions are detailed in Amendment #3 of the Offering Plan, CD18-1075 available from the Sponsor.