Expensive little units at Penn Station
Pros
Centrally located by Penn Station, Times Square, theater district Friendly staff and front desk security are lovely Central air and central heat Dishwasher and microwave Laundry on every floor Gym on first floor 2 Elevators, so even if one is being serviced, you can still use the other.
Cons
7th Avenue is filthy and seedy. Have literally walked out front of building to be greeted by homeless man taking a dump on the sidewalk. Walking home at night past people sticking needles in their arms. Unless you have a street-facing apartment, there will be no direct sunlight into the apartment. I felt like I was living at the bottom of a well. Garbage system is leaving bags of garbage on the floor in a room next to the laundry room on every floor. Hallways nearby reek of garbage and cockroaches are attracted to that room, so hope it's not near your apartment. There is a garbage shoot to a supposed trash compactor that was out of order the day I moved in and was still out of order the day I moved out. Laundry machines on each floor are also constantly breaking down. On the plus side, you can just go up or down one floor to use another one. On the minus side, depending on which floor you choose, some of your clothes might get stolen by the time you return for them. After living here one year they tried to raise my rent by more than $600 a month. Clearly they are uninterested in long-term tenants.
Advice to the owners
Invest in tenants that you actually want to keep around for more than a year. The more they think of your building as their home, the more likely they are to treat the building with care and be good neighbors.