Great Space for the $
Pros
The windows make your apartment feel SO much larger.
Cons
INability to control heat, so even when it's 60 outside in March, you're stuck sweating in your apartment. Old pipes, so leaks happen often.
Old and unmaintained building
Pros
Lofted ceilings and open floor plan
Cons
Old and unmaintained, poor sound insulation between apts and floors, pest problems (cockroaches and bedbugs), problems with no heat, no hot water, roof leaks, and broken elevator service.