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2686-2690 Broadway via Costar Group 2686-2690 Broadway via Costar Group
Airbnb may get many of the current headlines when it comes to short-term sublets, but the city still keeps a vigilant eye on illegal hotels. Just ask Hank Freid, founder and CEO of Impulsive Group: The buildings he owns at 2686-2690 Broadway are classified as single-room occupancy (SRO) and residential on the certificate of occupancy, but were illegally converted to the Marrakech Hotel (h/t Daily News).

In a 2016 interview with Hotel Business, Mr. Freid seemed to laugh off the penalties for illegal hotel opertaion. However, around $60,000 in violations later, permits have been filed for partial demolition of the five-story buildings. If approved, floors 2-5 of the buildings on the corner of West 103rd Street would be removed. A new roof and bulkhead would be constructed over the first floor, and the SRO use would be eliminated.
The Upper West Side used to be a mecca of SROs, but this type of apartment is falling out of fashion and serving as a relic of a seedier time. The Astor Apartments briefly served as an SRO, but the building was restored to its former glory and converted to luxury condos now selling from $4.45 million. More recently, Dahlia, a condominium with a $136 million sellout, topped out construction on the site of the notorious Camden Hotel.

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Content Specialist Michelle Mazzarella Michelle is a contributing writer and editor for real estate news in New York City