Harlem Townhouse Find: A Dream Come True for Two Friends
A Chance Discovery
Claire Breedlove was happy in her Harlem neighborhood, though not in her rental, which was in a poorly maintained building. Last winter, she decided to buy a place of her own, but was immediately disappointed when she was outbid on a nearby one-bedroom condominium with a terrace. Her parents, who live downtown, suggested she contact Bridget Harvey, an associate broker at Compass who was recommended by their own agent from 25 years ago.
A Unique Opportunity
On a whim, Ms. Breedlove told Ms. Harvey her dream, which seemed thoroughly unrealistic – that she and her dear friend Charlotte Renfield-Miller, who was renting in East Harlem and was also considering a purchase, could find a Harlem townhouse to buy together.
A Unifying Factor
Both women are native New Yorkers and met 10 years ago at a training session in Washington, D.C., when they worked for an international development nonprofit. They became fast friends. Each later returned to the city. Ms. Breedlove, 37, now works in cybersecurity, while Ms. Renfield-Miller, 36, works at the nonprofit.
The Perfect Scenario
"We talk at least once a day," Ms. Breedlove said. "We had ‘our bus,’ the M102, which perfectly connected us between our two apartments."
The Big Idea
One evening, riding the train home from a hockey game on Long Island, they started checking listings and batted around the idea of buying a townhouse together. The ideal place would be in a specific slice of Central Harlem, a few blocks around Marcus Garvey Park near 125th Street, so Ms. Breedlove could take the 2/3 train to visit her parents in Greenwich Village and Ms. Renfield-Miller could take a bus to visit hers on the Upper East Side.
Putting the Plan into Action
Ms. Breedlove and her boyfriend, Christopher Long, 43, were also in the habit of checking listings. As they learned more about the area’s residential rowhouses – at least some of which seemed livable, without needing gut renovations, within their price range of $2.6 million to $3 million – the plan no longer seemed quite so unrealistic.
A Two-Family Home
A two-family home would work best, though a three-family would allow both parties to bring in some rental income from the third unit.
A Clear Understanding
"It was important that everybody understood we were not roommates but had two distinct units connected in a home," Ms. Breedlove said. "We plan to live as neighbors, not roommates."
Parental Support
Both sets of parents were on board and willing to help with the down payment. "We were kind of waiting for everyone to tell them no, it was not a good idea, but it was the complete opposite," said Mr. Long, a filmmaker originally from Oklahoma, who would be joining Ms. Breedlove in the new house.
A DIY Approach
The friends wanted a rowhouse with character that could still be improved. "I like to do D.I.Y. projects," Ms. Breedlove said. "My dad taught me and my sister to be very handy, so the idea of doing smaller home renovations was appealing to me."
A Legal Structure
They also planned to create an L.L.C. for the purchase. "We tend to see eye to eye," Ms. Renfield-Miller said, "but we wanted some sort of legal structure to make sure our friendship was never going to suffer because of a co-purchase."
Conclusion
After months of searching, the friends found their ideal townhouse, a beautiful rowhouse with character, just a few blocks away from their desired location. They were thrilled to have found a place that met their needs, and were excited to start their new chapter in their lives together.
Frequently Asked Questions
Q: How did the friends find their ideal townhouse?
A: They worked with an associate broker at Compass and checked listings every day, eventually finding a beautiful rowhouse with character in the right location.
Q: What was the total price range for the friends’ desired rowhouses?
A: $2.6 million to $3 million.
Q: How did the friends plan to structure their co-purchase?
A: They created an L.L.C. and agreed on how to cover common costs, with Mr. Long paying his share: half of Ms. Breedlove’s half.
Q: What was the plan for the future, in case one of the friends wanted to rent out her half or sell?
A: They agreed to have a clear understanding of their plan, with a right of first refusal in the case of a sale.
