Station Park | 18, 28, 36, 43, 50 fl | U/C

[MidTowner]

Having crunched the numbers on a few in the past, I think they're poor investments from the get-go with any honest estimates of vacancy and maintenance. I've seen units being sold for prices whereby the owners would essentially be subsidizing their tenants' housing.

You're right that some of the new (purpose-built, professionally managed) rental stock coming online could lead to softening of rents, which would make the situation even worse for a lot of these purchasers.