House of the Day: 52 South Oxford Street
Um, no. An unrenovated SRO, five stories or not, on South Oxford Street for $2,500,000 in this market? Don’t think so. There’s some nice detail left and, according to the listing, 6,000 square feet of space, but given the headaches and delays associated with the SRO status and the time value of money, we think…
Um, no. An unrenovated SRO, five stories or not, on South Oxford Street for $2,500,000 in this market? Don’t think so. There’s some nice detail left and, according to the listing, 6,000 square feet of space, but given the headaches and delays associated with the SRO status and the time value of money, we think the sellers of 52 South Oxford Street are going to have to come down in price to get a deal done, especially given the unfortunate facades of its two neighbors (both of which serve as useful reminders of the importance of landmarking).
52 South Oxford Street [Clinton Hill RE] GMAP P*Shark
Many of these old neighborhoods went directly from the SRO flea-bag hotel period to the millionaires-only period. As usual in NYC, the working middle class (teachers, cops, nurses, civil servants etc etc) were left in the dust. But that is why God, in his wisdom, invented the suburbs, where ordinary people can live as well or better, than the millionaires in their musty old brownstones with cranky renters sharing the house.
Single room occupancy, not single residency occupancy. That denotes a type fo housing in which each apartment is a one-room apartment — kitchen, bedroom, LR, all in one room. The opposite of a 1-family home.
It will take about a year to renovate the house so waiting six months for the single room occupancy letter of non-harassment should not be a big deal if done concurrent with the work.
But if there is a former tenant who comes out of the woodwork to say they were harassed, then you have a Kafkaesque nightmare on your hands.
That’s why buying these sro’s are problemtic except for the biggest developers who have a stable of attorneys at the ready.
2:44: if you’re so desperate to know, there’s this thing called the Internet? GOOGLE IT.
no–it’s a rooming house where rooms are rented out individually with shared bathrooms on the hall. a vestige of the area’s less flush times. residents of SROs are protected like rent control tenants and are rather difficult to get rid of. and once the house is empty, you then have to prove that you didn’t illegally displace any of the tenants. the city sends out letters and investigators to try to chase down former tenants and make sure they weren’t forced out against their will. meanwhile, your monthly mortgage payments are due and you can’t get a DOB permit. great stuff.
2:44…SRO…learn how to google…it’s actually a verb
you other posters are confusing him/her…you should look it up too…it’s Single ROOM Occupancy
Can someone explain the SRO thing? Does “single resident occupancy” mean that this is a 1-family home?
The owner’s triplex includes the cellar? Most cellars in these types of houses have dirt floors.
Realtors have no shame.
SRO – single resident occupancy.