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."

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