@arielviera: Some estimates say that there are about 100,000 vacant apartments in NYC. Here’s one of them located in a popular neighborhood but it’s in terrible disrepair. How much does it actually cost to get it up to code and being a livable apartment again? @Eric Brody a developer/builder in NYC, shares some insights. Note: this is not a building he’s involved in. We got permission to shoot at a undisclosed building owned by someone else. #nycapartment #nyctiktok

Ariel Viera
Ariel Viera
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Region: US
Thursday 06 April 2023 15:00:08 GMT
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emery_olson
Emery Olson :
the $100K cost is probably bc gradual repairs were avoided by the landlord for years
2023-04-11 20:35:05
500
0023522slr
0023522slr :
These laws are ridiculous. He should be heavily fined for not having that unit on the market
2023-04-08 14:52:39
586
hulie75
@hulie751 :
So he owns it🤔 @$2500/month that’s $30k/year even making $15k/year and spending $100k ROI is 8 years
2023-04-06 17:20:02
197
mouthy2023
Mouthy24 :
He could easily recoup his investment if he let a tenet do the renovation but he wants to do a $20k Reno, say it cost $100k then get $2500 a month
2023-04-06 15:47:10
184
justinjohnson991
JJ Johnson :
If vacant, the city should force them to sell and to a new owner who MUST live in it for a year after it is liveable
2023-04-11 22:53:12
180
sacco646
Gerald_Butler :
if you made a bad investment, you can always sell it to recoup some losses and move on
2023-04-12 14:13:25
178
ebonywarriorstudios
Ebony Proletariat ☭ :
Cope, leech
2023-04-12 13:55:05
111
lsaurusrex83
L :
I’m just not into this Eric guy yelling at us lol. It’s giving very “up next” on a 90s daytime talk show.
2023-04-07 12:06:53
110
pigeonpost.nyc
Pigeon Post | NYC “News” :
sorry but im automatically suspicious 😅 @thecityny did a great piece reporting on these and how landlord interest groups are using the 1/?
2023-04-10 19:01:49
93
gaytravelguy
GayTravelGuy :
NYC needs to pilot a program that allows ppl to buy individual rental units until the building is 60% owners &can be turned into full condo or co-op.
2023-04-06 16:44:17
93
kurotsukihime
Kurotsukihime :
I’m sorry you can never recoup your investment? Renting it after renovations for 1800. You will get your investment in 5 years
2023-04-07 17:14:41
91
margaretstewart34
Martha :
Landlords have the right to go and inspect their apartment and property. All the landlord has to do is give the tenant 24 hour notice.
2023-04-06 15:39:39
54
kevzunuk
kevzun UK :
How much can you raise the rent? Don’t be one of them Ariel, please.
2023-04-06 15:14:56
46
rakata.gratata
sa :
investment properties are just that. an investment. sometimes investments go sour. you take a risk. it’s a gamble. too much entitlement from landlords
2023-04-06 16:54:28
40
kevzunuk
kevzun UK :
Ariel ask some questions please! When he says he won’t recoup costs, over what time, what’s the ROI, why are you jumping straight to raising rents.
2023-04-06 15:14:11
36
seamuspnw
Seamus :
How did this come to such disrepair. The landlord is liable. Fully. I’m positive their are a smorgasbord of violations here.
2023-04-07 02:34:45
36
hydroflask420
AJ :
You can sell it to somebody who will buy it to renovate it and living at themselves instead of trying to rent it out
2023-04-11 23:24:20
32
willyumtales
Willyum Tales :
Should charge landlords $100,000 a year for every residential unit that stays empty.
2023-04-11 16:48:17
25
swervegriffin2
swervegriffin2 :
Ariel noooo
2023-04-07 16:16:51
25
dr.jluv
J. Luv :
WHAAAT - a new kitchen for only $5,000? Where!!!!
2023-04-06 17:08:44
22
saltigrem
Salty gremlin :
… isn’t this part of the ‘risk’ in being a landlord?
2023-04-12 05:05:42
22
kevzunuk
kevzun UK :
Yeah he stopped listing the costs…. First couple yeah that’s right, then we head straight to 100k lol
2023-04-06 15:13:18
21
aliali71330
ALI Ali :
I feel so conflicted on this. I don't think owning land should be a carear but at the same time it's a reality of the world
2023-04-06 15:41:46
18
bulldogsandactivism
Mason :
So what? You can’t afford it, sell it. You should be fined $50,000 per year for each of these units. Can’t afford it? Too bad.
2023-04-25 14:24:50
17
loves.11.11
Butta Peekan Rican🇵🇷 :
Lies. That apartment was $2,500 in rent back in the 90’s!!! Once they fix it it’ll be $5,000 +/- a month.
2023-04-10 03:28:21
15
might_be_a_cat
Witch :
Renting non comercial proprety for income should be illegal we are not in feudal times wtf
2023-04-06 21:14:37
15
yulien2
Yulien :
That guy just seems evil
2023-04-11 20:25:28
9
criticalgracetheory_
Grace Johnson :
This is propaganda!!!! Pass a vacancy tax
2023-04-12 13:05:37
9
freehumanityart
FreeHumanityArt :
Can’t believe there’s that many empty apartments
2023-04-06 20:49:31
9
pigeonpost.nyc
Pigeon Post | NYC “News” :
@annaleeklenkar wdyt?
2023-04-10 19:04:16
9
lindsaylindsey
LindsayLindsey :
Seems like it’s at a lock. Renters can’t always pay the price but the work needs to be done to make it liveable.
2023-04-06 16:14:32
9
ci0wnnn
. . . :
Bro are you trying to make us feel bad for landlords?? Lmao nah fuck that
2023-04-06 18:51:03
8
tiredgenxer
the other guy :
Indoor voice please
2023-04-07 17:58:16
6
filfylaguna
filfylaguna :
Some one dwelling isn’t a “ investment “ land lords are the scum and leeches of society
2023-04-12 03:39:47
6
mullingitover
mullingitover :
I always wondered what a literal slumlord looked like
2023-04-12 04:02:52
5
waitwoot
waitwoot :
SELLL ITTTTT
2023-04-14 19:48:12
5
canceled_kard
CIA :
That was definitely a 30-50k job total
2023-04-08 20:32:24
5
dylzoeyvfto2
dylzoeyvfto2 :
land lords are scum
2023-04-06 18:38:44
5
glansbury
glansbury :
god i wish we had an asshole tax
2023-04-12 13:02:43
5
__mrgrey
Grey :
The unit actually seems like it isnt that unsalvageable. Not a total gut job like he said. It’s just easier to gut and start over than to rehab
2023-04-08 08:54:01
5
dirtydan0814
Dan :
Why is he yelling at me
2023-04-07 11:48:46
5
kosmoliftoff_1
Kosmo :
why is every single landlord on TikTok sounds like whiny little infants
2023-04-12 03:49:13
5
harryosborne07
harryosborne07 :
Yet, he still hangs onto it. He refuses to sell 😳 Smells like shenanigans.
2023-04-11 20:47:24
5
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