For sale: Big new rental building on St Marks, near Franklin.

36 units ... $14M

Think the buyer will flipped it into condos, or keep them rental units?

This building strikes me as being really poorly constructed. I might rent there, but wouldn't buy.

If I had $14M, I might buy the whole building and play landlord. The design and location appeals to the young, salaried couples who are flocking to the neighborhood but are only willing to rent.

...lots of construction coming to that block.

421a abatements are only temporary. I'd be worried about how I was going to pay that bill in the future, when the abatement is gone.

http://www.nyc.gov/html/dof/html/property/property_tax_reduc_421_a.shtml

The rental market continues to thrive.

....but I fear this building will need more maintenance than average as a result of cheap construction.

It should be interesting to see how much it goes for. I hope the building is not at risk of foreclosure.