Charming But Occupied SRO
While sometimes painful, sifting through Craigslist can turn up some interesting things, especially at the lower end of the market. For instance, this 10-unit SRO in Bedford Stuyvesant is listed at $698,000. It’s a dicey deal to be sure, and one that we probably wouldn’t touch given that at least three of the units will…
While sometimes painful, sifting through Craigslist can turn up some interesting things, especially at the lower end of the market. For instance, this 10-unit SRO in Bedford Stuyvesant is listed at $698,000. It’s a dicey deal to be sure, and one that we probably wouldn’t touch given that at least three of the units will still have tenants. Depending on the situation and layout, however, maybe there’s a creative way to work around them. Regardless, this is a great looking building. Anyone know where it is exactly?
10 Unit SRO For Sale [Craigslist]
Our house happens to have been full of drug dealers and users before the former owner got them out. In fact, the guy who lived in the front of the parlor held up the former next-door neighbor at gunpoint.
What is a better option for a neighborhood: selling an SRO to a potential slum lord who keeps it as is, or selling it to someone who buys out tenants and fixes up the building? If the owners of most SRO’s took better care of their buildings and tenants, the tenants might take a little more pride in the upkeep of their building, yard, etc. But when this doesn’t happen, I’m not really sorry to see SRO’s get converted to owner-occupied multi-family homes.
please forgive my ignorance, i’m new to this blog and the realestate scene [thanks brownstoner for all that you are teaching me!] what is an SRO exactly?
is the crack/heroin comment a joke or for real?
SROs are notorious for being crack and heroin dens, we don’t know that this one is any different
and if weren’t for the tenants and SRO status, price probably wouldn’t be $698k.
Why not recognize that business valuations differ from personal opinions and remain less objective?
Looks like they were giving out free cans of sanctimony at the new Fairway. There’s a good reason Brownstoner mentioning the occupants from the buyer’s perspective: the building is FOR FREAKING SALE. Brownstoner’s not the one who put it on the market.
Since extant tenants limit what you can do with a building, that’s totally legitimate for a buyer to consider. Mr B’s not advocating kicking people out, just noting helpfully that this building is not for everyone.
yeah, yeah, i hear you, but this is an SRO. it’s almost like saying, oh this building is so great, too bad it’s an old age home or hospital.
if it’s unfortunate from a buyer’s perspective, then DON’T BUY IT.