A condo is a good way to create a multiple ownership of real estate when a subdivision under the Mass. Subdivision Control Law (Chapter 41 Section 81K-GG) is not feasible.
By using a condo form of ownership, I have been able to avoid the problems of obtaining subdivision approval from local planning boards.
For example, north of Boston, I have created a condo consisting of a large retail store as one unit and the remaining units in an adjacent office building, all on one lot.
Also, south of Boston, I have created a golf condo with the golf course and clubhouse as one unit and the free standing or attached homes as the remaining units, without a subdivision.
When a tract of land is not subdividable, a phased condo works very well. The entire land is put into the condo and the declarant reserves the right to build buildings in future phases on the portion of the land which is common area.
Often there are two houses on one lot which cannot be subdivided. A condo can be created with each house being a unit in the condo. Subdivision approval is not required.
As Chapter 183A, the Mass. Condo Statute, is an enabling statute allowing for flexibility, it will continue to be used in creative ways when a traditional subdivision is not possible.
Saul Feldman is a real estate lawyer with Feldman & Feldman, PC. Boston, Mass.
New England’s notorious weather – from fierce winter storms to summer squalls and fall hurricanes – can leave businesses in the dark. While power outages are often blamed on storms, they can also be caused by unforeseen events like accidents or construction mishaps. While it’s impossible to prevent disasters and power outages entirely, proactive preparation can significantly minimize their impact on your commercial building.
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary