Revitalization has come to East Harlem, but a number of apartment buildings are left vacant by their owners until they can be turned over or the market recovers enough for higher rents.
Joseph Berger writes about the phenomenon of "warehoused" apartments in East Harlem:
"In some cases, city housing officials say, landlords are waiting for a revived economy to raise rents so that it makes financial sense to repair plumbing and electrical wiring. In other cases, landlords are 'warehousing' apartments for the moment that a deep-pocketed developer comes along, as has happened in the blocks just north of 96th Street, East Harlem's southern boundary. In still other cases, it is simply mystifying that apartments would be left vacant for decades, particularly since East Harlem has been a magnet for Mexican and other Latino immigrants, as well as young strivers looking for cheap space."
Thanks to Jay Myers
FULL STORY: In East Harlem, ‘Keep Out’ Signs Apply to Renters
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