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These are typically 4 to 6 story buildings built in the 1800's through the early 1900's. They are either single family houses or have been converted over the years into multiple apartments. As a single family home, a townhouse or brownstone offers buyers privacy and the ability to purchase without the cooperative board process. Some apartments in townhouses can have grand living spaces and, therefore, will be quite expensive. Generally, these buildings afford more "charm", with features such as gardens, fireplaces, beautiful floors and ornamental wood moldings. In almost all cases these buildings will not have a doorman. One can also purchase a coop or condo unit in a townhouse building. The term “brownstone” refers to the type of material used as facing on the front of the structure.
Most people buy townhouses for the gracious lifestyle and privacy that they afford. Vacant townhouses, however, are very expensive in Manhattan. When you see townhouses and brownstones with prices well below the market rate, you can assume that the house will not be vacant. If you are buying a house containing tenants, you need to understand the following information about the types of tenants you may have. They can be fair market tenants (who are paying whatever the market will bear), rent control or rent stabilized tenants.
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Equal Housing Opportunity