From The Real Deal:Cardinal Investments, developer of the luxury condominium M127, appears to be illegally renting unsold apartments in that building for nightly hotel stays despite visits from city inspectors, which were prompted by The Real Deal's February article exposing this activity.
Cardinal still advertises nightly availability at the building, located at 127 Madison Avenue between 30th and 31st streets, on its Web site and the listing service VRBO.com, or Vacation Rentals by Owner. The VRBO.com advertisements for nightly stays at 17 Orchard have since been removed.
Last week, an undercover correspondent for The Real Deal inquired about a stay in M127's sprawling, SHoP Architects-designed duplex penthouse, previously listed for sale for $3.4 million.
Cardinal agent Janine Walker said the penthouse could be rented for roughly $1,542 per night, with taxes and fees included, during the last two weekends of May. Walker even gave the go-ahead to have a party in the room.
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