3 UWS SROs sell for approximately $50k per unit

Interesting. I had no idea it was on the market.

wholly cow... i had a gf living in that SRO. in today's market, if they do some updates, they can make very good money renting those rooms. the place, back around 2000, was full of mostly long term tenants. there was a significant number of legal and illegal eastern europeans living there. most of the rooms were dark though. location is fantastic.

Are there any apartment buildings in nyc with squat toilets? I'm sure there is a huge pent up demand from Asia /eurasia for squat toilets for what I saw in china. Maybe if it was shared by 10 families and was located outside the building where everyone was allowed to smoke, I'd have a money maker.

$27mm to $18mm in 5 yrs. Had the right idea to sell at peak.... The carry thru leaves something to work on.....

w67, this is a serious question. Based on the purchase price, and likely follow-on investment needs, the owner could profitably charge $700 to $1,000 per month for essentially adult dorm rooms at a super convenient Manhattan location. Isn't there a market for that?

PMG. This is a serious answer. What you envision is called a youth hostel. If you have a nice apt that a 'grown' adult wants to pay $1k month, is isn't too much to add some granite tops and stainless (if I hear those words on HOuse hunters again I'm gonna shoot someone) appliances and charge $2k/month and get rid of daily weekly cleaning and wear and tear and go for a full year rental.

I am always of the mind, the wheel has been invented. I'm not that smart.

Double dip recession, yeah baby w/ no foreclosure backstop. Herez we goezzzzz

w67thstreet
25 minutes ago
ignore this person
report abuse PMG. This is a serious answer. What you envision is called a youth hostel. If you have a nice apt that a 'grown' adult wants to pay $1k month, is isn't too much to add some granite tops and stainless (if I hear those words on HOuse hunters again I'm gonna shoot someone) appliances and charge $2k/month and get rid of daily weekly cleaning and wear and tear and go for a full year rental.

I am always of the mind, the wheel has been invented. I'm not that smart.

Double dip recession, yeah baby w/ no foreclosure backstop. Herez we goezzzzz

west67 knows far better than a major ny landlord and investor what they should do with their money.