Can you buy a Mitchell lama if you are a homeowner already (apartment, coop)

[Adri0292]

Hi everyone,
I've received my log number and now I want to know, when the time calls that I am called and in the event that I'm offered an apartment , would owning a private market rate co op elsewhere interfere ? Would I have to sell my old co op in order to purchase a Mitchell lama co op?
Thanks in advance!

[NYC refugee]

Mitchell-Lama has to be your primary residence. You have to pay your taxes based on that address and have your mail go to that address and you can't park a car there unless it's registered to that address. You may not have to sell your other co-op, but for tax purposes it would be a second home.

[Adri0292]

I would make the ML my primary residence.

[Talkster1]

When I got my ML co-op, which was 23 years ago, i was told I had to be a first time home owner. I do not know if it is still true.

[shadypinesma]

You must not own a home in order to be eligible for a ML apartment.

Once you are in, you can purchase a second home elsewhere. But you will be denied if you own a home upon applying.

[nicolebaruch1234]

It depends on that builiding's policy. u should study it first.

[Trixie216]

This post rubs me the wrong way. It is so difficult for people to get into ML housing and some people REALLY need it. I know for my family it was a life saver. We just moved in around Thanksgiving last year. I really hope you would HAVE to sell your coop. I understand that circumstances change and you could buy a second home later on but to qualify I sure hope the rules are you cannot own another home.

[stnycbk]

Greetings everyone,

i'm 80 numbers away from my number which could happen with in 6 months. i own a coop and i know that i should not own any property. if i sell it before im called will they hold it against me for that and possibly disqualify?
Any body has an answer or experience with such issue?

[Berniess]

So whats the answer to this.?

None of the ML coop ads I've seen mention anything about being a first time homeowner as a requirement. If it were such a requirement why would they not mention so not to waste people's time and take people's non refundable application fee?

[stnycbk]

my girlfriend had an interview today in downtown ML. i asked the office manager that was interviewing her if you can own a private coop when getting an ML coop and she said no, but you can by property when your already in.