I've been thinking about getting my own loft for a while. You know, a large gutted commercial space that has just gotten redone and I'm free to build however many rooms as I please. They're generally really long and rectangular spaces that have windows on the short walls facing the street and the alleyway.
My roommate Erik has found one for us to move into. 1500 sq feet of wide open space, hardwood floors, and 15 ft ceilings, for $4200/month. Its in the lower lower east side and the neighborhood is a mix of hipsters, chinese, and latinos. If you build 5 rooms in there and you're looking at $820/month rent... but the best is when you get a random or two in there, charge them the market rate of $1200/month, and you're sitting pretty at less than $800/month in downtown Manhattan.
Is this gonna work out? Who knows.. it's fun to think about.
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