Currently under the auspices of a Manhattan broker transplanted yrs back from rural Co, this prop has served primarily as a tax shelter. If cash flow had been important, it's quite likely that this owner would not have spent the money he has on the place. As it is, whereas the typical landlord might have had the local plumber tweak the bldg’s erratic HW heater, our current owner inserted a new 120 gallon, 560 gal/hr recovery rate version. If presented w/ inefficient heat, many owners might have tacked up a little extra door molding. This guy replaced his boiler w/ a new, state of the art, ‘ganged’ heat system, as well as all the windows. Doors a little sticky? Toss that sandpaper aside. The current owner had piers inserted so he never again needed to hear that tenant complaint. The departing owner is not one for band-aids. Here is betting that ‘New Guy’ can squeeze a little more out of his nickels & reap the financial benefits that never seemed to matter to our departing New Yorker.
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