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    5 Replies Latest reply on Nov 2, 2009 9:17 AM by DomainDiva

    Selling upper floors in shares while owning street level

    smallcountry Wayfarer
      I am willing to sell in shares the 5 remaining floors to be completed as furnish apartment/hotel.
      The present cost of the existing commercial area in building of 7,000 sq ft at street level and 6,000 sq ft of basement was aprox. US$0.780 million. This shall serve as base for the upper 5 levels (6,000 sq ft per level) which will cost 1.4 million. The net income (profit) for rental less marketing/admin. will be US$4,770.00 per level. I shall retain for myself 15% shares of upper levels plus street level and basement.
      How to deal with sales of shares of the 5 remaining levels to be completed within this stats.?