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160 Bleeker - Atrium Hotel

Started by dru85
almost 17 years ago
Posts: 20
Member since: Mar 2009
Discussion about
Does anyone know about this building? It looks like Knickerbocker Village NY real estate and management firm is the exclusive broker, but I've also seen that it doubles as a long term hotel called Atrium Suites. Thoughts? Thanks, Andrew
Response by 30yrs_RE_20_in_REO
almost 17 years ago
Posts: 9880
Member since: Mar 2009

It is a Coop (well CondOp, actually) which has a fairly checkered past. At one point the Sponsor defaulted on his obligations on his units and the Coop foreclosed on them and made an agreement with an investor to take over those units. With the financial difficulties of selling in the building, the investor decided to rent out the units where they could get the statutory tenants out on a short term basis.

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