He made various deals with individual tenants as he attempted to turn the place into a luxury rental building, with some apartments that leased for up to $45,000 a month. For a rabbi and his family who were paying $275 for a 4,000-square-foot apartment, Mr. Barnett bought a house in the New Jersey suburbs. Then there was the penthouse dweller who hankered for the desert: He flew her to Las Vegas to pick out a house with a pool, arranged for its purchase and paid her moving expenses. Other tenants opted to keep their low rents, but agreed to swap their vast, 11-room apartments for smaller ones.
Mr. Barnett once joked that the fountain he had resuscitated at enormous expense — a project that involved disassembling and carting it away for repairs — was the fountain of youth, because nobody ever seemed to die at the Belnord.
A very interesting article. I’m most surprised that the building was a rental!