Mills House No.1

It might function as a hotel (apartment hotel). I was looking for out of town guests for an apartment sublease and I believe I saw an apartment for 1 month rent in that building.I am not sure what recent changes in the law (short stay hotel) mean for this building.

It's a cond-op. The co-op unit has loose rules and the sponsor still owns a lot of it. (Or rather the sponsor's successor, as the original sponsor defaulted in the late 1980s.)

Because of the low owner-occupancy percentage, new owners either can't, or find it very difficult to, get financing, so it's effectively an all-cash co-op.

A brochure from the 1970s(?) remodel is at http://nyre.cul.columbia.edu/projects/view/18149

Anyone knows why the sponsor still own so many units? What would be the risks/negatives of buying into this building besides having to pay all cash? Thanks.

Hi,

does anyone know if it is a good buy to get into the building now? And I see that the top floor units have big, glad windows. Are they ok/safe?