Search
 
Commentary

A Look Inside NYC SRO Properties

In this exclusive commentary, Josh Lipton and Andrew Levine argue that simplifying the SRO rules and maximizing tenant occupancy should be a top priority.

By Josh Lipton and Andrew Levine | Updated on November 03, 2017
Josh Lipton Josh Lipton, executive managing director at ONE Commercial

The byzantine rules pertaining to single room occupancy properties (SROs) have befuddled owners, investors and tenants alike. Shame on the relevant city agencies for botching the noble goal of housing the less financially fortunate and society’s most marginalized only to create deep confusion as to the rights and obligations of SRO tenants and landlords.  The rules surrounding SRO properties often incentivize ownership to keep existing apartments vacant in the hopes of vacating the remaining units as part of the multi-step process of re-purposing the SRO to an alternative use.

In a city with a chronic affordable housing shortage, simplifying the SRO rules and maximizing tenant occupancy should be a top priority. For over half a century, SROs have been a form of affordable housing for New York’s low-income residents and most of these dwellings contain single rooms without a bathroom, kitchen or shower; all of which are typically located elsewhere on the floor and shared with other tenants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

GlobeSt. Multifamily Spring 2025Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.