Shah Repositions Sago Hotel as ‘Micro Apartments’ for Macro Rents
The Sago Hotel on Orchard Street is apparently no longer such. In fact, rooms are now rented as apartments on the open market.
Landlord Michael Shah purchased the hotel development earlier this spring for $8.5 million. Now it appears the property at 119 Orchard is repositioned as “micro apartments” with flexible leasing (and high pricing). At the moment, there are five active listings via Streeteasy, with studios starting at $2,250.
Each listing comes with a bold disclaimer about how the leases are for 6, 9, or 12 months. Oh, and that none of the apartments have kitchens because, you know, hotel. Also, units are fully furnished and utilities covered.
What’s curious about these listings is that Department of Buildings records don’t appear to show any change in zoning for this type of residential use.