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Shark Bites: Feeling Violated

Shark Bites is an occasional Curbed feature in which our friends from property research hub PropertyShark drop by to share the love from their wealth of maps.

As per this NYT article from a month back, the city is planning to put serious pressure on slumlords to fix up their buildings. According to the article, there are about 1,000 buildings that will be subject to this pressure.

However, the NYT missed the real estate investor angle. It's unlikely that the owners of the current buildings will clean them up. More likely, the city's pressure will cause the current owners to sell to investors with the capital, experience, and mindset to renovate them. This is a classic kind of property for an investor to buy very cheaply and then to clean up and resell. So this list of approximately 1,000 properties should be pretty valuable, in the right hands. Above, a portion of a new PropertyShark map showing buildings with a high number of violations in Harlem and uptown Manhattan; after the jump, a look at the Bushwick/Bed-Stuy vortex of violations.
· Building Violations Map [PropertyShark]
· City to Seek Broader Power Over Buildings [NYTimes]