Absurdly Awful Management
Pros
Spacious, open apartment with great views of the Hudson, in a relatively safe neighborhood.
Cons
Management team was awful and completely unresponsive. The super is never available for the problems that constantly arise: pests (roaches, rodents), ceiling leaks, heating problems. The management team itself is impossible to get a hold of - when they do finally reply, they are unprofessional and unhelpful - often times the tenants will have to fix the building issues themselves (ie, frequently broken front door lock/ handle). The back/ basement door is CONSTANTLY open, leading to strangers coming in and camping out in the basement. The basement itself is filled (literally) with recycling and RATS. When I moved in, only one of the two elevators were in operation. A month after living here, the second elevator broke down. Both elevators broken in an 11-story building with a high population of elderly, young families and children.
Advice to the owners
They are clearly uninterested in maintaining their properties. That is clear. Do better.
Don't Do It
Pros
Very few pros, other than the location, and the fact that many apartments are rent-stabilized.
Cons
Everything in the building is falling apart. It's an 11 story building with no working elevators (1 has been out for almost 3 years). Garbarge is constantly piled in the hallways. Ceilings are falling down, windows don't close fully, leaks are constant, drains clog super easily; the building is just a mess. And the landlord is completely absentee. He's listed as one of the worst landlords in New York by the Public Advocates office. To be clear: the building across the street is owned by the same landlord, and is currently vacant due to a fire that took place a year ago. That fire was caused by shotty wiring in the ceiling of one of the apartments. So like I said: do not do it.
Advice to the owners
Be a good person?