tag:blogger.com,1999:blog-1957537260422450632.post3854868646746321270..comments2024-03-23T09:42:36.833-05:00Comments on Uptown Update: For Sale Cheap: 153-Unit Building, Ground Floor RetailUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1957537260422450632.post-33204578915211551112011-03-13T08:21:14.925-05:002011-03-13T08:21:14.925-05:00Yes,market rent!!!Yes,market rent!!!un-biashttps://www.blogger.com/profile/15024272677050153501noreply@blogger.comtag:blogger.com,1999:blog-1957537260422450632.post-27372901957878423182011-03-10T13:40:15.760-06:002011-03-10T13:40:15.760-06:00Great looking building for a price that seems like...Great looking building for a price that seems like a gift, until you consider not only the cost of rehab,but whatever restrictions may apply to the building.<br /><br />For example, is there anything in place that restricts this place only to low-income subsidized rentals? Some "Project Section 8" buildings have this restriction, I believe as a condition of getting a HUD loan to rehabilitate the place.<br /><br />This building was rehabbed in the mid-80s as a "rent stabilized moderate income" building, so there might be restrictions. I really don't know. <br /><br />Strictly an institutional deal, for large landlord with expertise and very deep pockets. Let's hope it doesn't continue to be the type of building it has been for over 20 years.The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.comtag:blogger.com,1999:blog-1957537260422450632.post-71027344586364800382011-03-10T11:14:21.064-06:002011-03-10T11:14:21.064-06:00Maybe the company that bought and rehabbed the old...Maybe the company that bought and rehabbed the old beautiful hotel on Wilson and Sheridan can restore this gem too.Bluestreakhttps://www.blogger.com/profile/12845855655766639250noreply@blogger.comtag:blogger.com,1999:blog-1957537260422450632.post-8168238301990360762011-03-10T10:45:33.817-06:002011-03-10T10:45:33.817-06:00$32,000 per unit would be too low for a TIF. To ma...$32,000 per unit would be too low for a TIF. To make this more efficent as corrupt TIF is to tear down this building and put the same size building with units going for $500,000 each. Of course, the promise that critical mass will expode and 5 businesses will magically appear in the retail space.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1957537260422450632.post-18469836339835843862011-03-10T10:09:12.927-06:002011-03-10T10:09:12.927-06:00Thank God this building falls outside of the WY TI...Thank God this building falls outside of the WY TIF district. Otherwise "you know who" would love to get her grubby little mits on it. Although...who knows, she may try to anyway...<br /><br />Best case scenario: someone buys it and turns it into something Uptown could handle - MARKET rate rentals.miss kittyhttps://www.blogger.com/profile/05838853679955521645noreply@blogger.com