I own a unit in a condominium building. There are six other units owned by the same person. They were previously rented as long term rentals. Two years ago the owner of the other units sold them to a developer who began renovating them. At the initial rough inspection, the city inspector informed the owner the occupancy permit for the building was for a total of four units. The owner appealed and the appeal was denied. All construction stopped a year ago, leaving the upper three floors of the building with rough framing.
I want to sell my unit but have found that no prospective purchaser can get a mortgage on the property because the legal status of the remaining condominium units in the building is unknown or not determined. The work by the other unit owner has made my unit unsaleable.
The other unit owner has offered to purchase my unit at a deeply discounted price.
Any thoughts or suggestions would be appreciated.