Monday, December 15, 2008

From luxury condos to short-stay hotels

Building owners have long dabbled in the hospitality industry, illegally renting out empty units in their properties on a short-term or nightly basis. But in a new twist, the clandestine hotels are popping up in luxury apartment buildings in the financial district, where developers have struggled to sell all their units.

Hotels spring up in unsold condos

The downtown building boom led to a glut of luxury condo developments in former office buildings near Wall Street. As several of these high-rises remain unfilled, developers and landlords are making “other arrangements” to squeeze a return out of their investment.

Offering these vacant units as short-term “corporate housing,” which falls into a gray area of the law, they've found willing occupants in the influx of visiting professionals dealing with the unraveling of Wall Street, as well as tourists looking for deals.


Anonymous said...

By "short stay" or "short term" does this mean hourly rates?

Soon these desperate developers will be converting these empty rooms into high end "hot sheet hotels" for discriminating well paid corporate types and CEOs where they can discretely conduct their trysts in privacy!

"Hello room service....
please send up a bottle of Dom Perignon 1980 well chilled.
I've got a warm anxious babe here
who is very thirsty".

I wonder if all that federal bailout money is going to be paying for this kind of stuff.

italian girl said...

It looks like the CEOs won't be able to afford any high-priced escorts anymore. They may even resort to streetwalkers!

Anonymous said...

Good...let 'em catch a good dose of the clap!

I'm for sexual democracy where street whores service both the upper and lower classes!

Come to think of it...most CEOs are
sluts anyway so they can save even more money by f-----g themselves!