More Illegal Hotels
From Curbed.com blog
By Curbed.com, Thursday, February 5, 2009.
While many developers are now renting out unsold units as hotel rooms, most don't talk about it to the Real Deal because, um, it's technically illegal (zoning and permits and all that jazz).
But one Cardinal Investments partner is happy to explain why the company is advertising units at Murray Hill's SHoP-designed m127 and 17 Orchard Street on the LES on a vacation-rentals Web site: "You've gotta pay the mortgage, you've gotta keep the lights on."
Even if the Buildings Department cracks down and busts the developers in the act, fines range only from $800-$2,000. Meanwhile, kudos to TRD for entering the world of humorous Photoshopping. [Real Deal]
Copyright (c) 2009 Curbed.com LLC
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Submitted by Mott Marvin Kornicki on February 5, 2009 - 2:40pm.
I guess that plan action is far better than bulk selling the unsold units. It is still no excuse for violating zoning laws.
Mott Marvin Kornicki, Broker
www.WaterwayRealty.com
305.935.3533 Main Line
Submitted by Thomas Palmer on February 9, 2009 - 7:26am.
Why not just enter into long-term rentals? Setting up a hotel room and violating the law is going too far. A better approach would be to just rent out the units on a month to month basis in my opinion. Hotel rooms seems to imply daily rentals.
Thomas Palmer
Nashville Discount Realtor