You get what you pay for
Pros
The rent is very cheap for Manhattan studios. And the super is - as others have said - one of the nicest and friendliest people in NYC. The garbage system is pretty good, and the water pressure in the building is surprisingly robust.
Cons
The owner (AJ Clarke) and the property manager (Angela Cronk) are pretty hands off. The building has lots of German cockroaches. You can try everything - baits, traps, sprays, etc. but it doesn’t help. The building has an exterminator who comes twice a month who sprays a residual pesticide, which helps a little, but only temporarily. No laundry in the building. The 38th and 2nd intersection is also always a mess, and there’s constant honking that you can hear no matter what.
Advice to the owners
Give the super (Peter) a huge raise, and find a way to fumigate the entire building to try to sort out the roach problem.
You get what you pay for.
Pros
Quiet neighbors, generally friendly people, got to know a few of them. Never had a noise issue, no parties, etc. Super lives next door and is THE BEST person I've ever met. He is an angel who made living here tolerable. He works really hard. I miss him.
Cons
Building is basically falling apart from the inside. Some units are much worse than others. Random half-day water shutoffs (like literally no running water) every 3-ish months for emergency repairs. Hallway smells really bad, partly because of how old it is, and also because a hoarder lives here and her apartment radiates a foul odor. The entire building is infested with cockroaches and you WILL see them everywhere in your apartment, no matter what floor, even though the exterminator comes twice per month. I can't stress this enough; they come from every direction. Floors are impossible to make look nice no matter how much you try. However if you need a repair or have a leak the super is ON IT.
Advice to the owners
Give the super a massive raise, he's the only reason this building is still standing.