Case Study 1: SRO TO OWNER OCCUPANCY
Web case study 1: SRO to Owner Occupancy
Project: 119th Street owner-occupied investments acquisition and renovation
Client: Private investor
Location: 119th Street and Lenox Avenue
The Mt. Morris area is well-known for its 19th century Dutch architecture and its proximity to Central Park, MorningsidePark, and Mount Morris Park. For the past 40 years, this brownstone was a distressed SRO but maintained all of its original detail. This project consisted of a total gut renovation of the building’s systems, but all architecture and historical details were preserved. The building became a three-family dwelling, with two luxury rentals. The rental units covered the mortgage, so the owner could profit from the third unit or live in a New York apartment at no cost.
Significant challenges for this project:
- Obtaining a Certificate of Non-Harassment from The New York City Housing Preservation and Development office in order to get a building permit.
- Changing the building’s legal usage from a Single Room Occupancy (SRO) to a three-family dwelling.
Unique features about this project:
- Maintaining ornamental plaster ceilings and details throughout.
- Refinishing original claw foot tubs from the late 1800’s.
- Building out the cellar as an additional living space with maximum ceiling height.
- Heating the tile floors, installing central air conditioning in all units, as well as stone counters, stainless appliances, and gas fireplaces.
- Creating multiple outside areas.
- Providing the owner/investor with the ability to live in a 2600-square foot apartment while the rental units cover mortgage and expenses.