lol

Ask yourself.

“Why has this property been on the market for three years”.

Find some closed comps for the building...

DAYS ON MARKET
191 Days

LAST PRICE CHANGE
↓ $10,000 (3.7%) 9 Days Ago
30k in price reductions since listed. Yeet

it's gonna take up a lot of time, especially if you don't know what you're doing, and neighbors can eventually start complaining about noise and dirt. you'd need to have a permit to do some of the work, like electricity and plumbing, and maybe gas, which you may not get if you're not licensed. you can run into a lot of problems if you do what ever without actually following building code. you'll also need to find out if you can rent it out. don't know about condo's, but many co-ops in nyc require you to own the place for at least a year before you can start renting it out to others.

if you've not done so already, i recommend you read up on the process before anything else. ex: what kind of paperwork needs to be filed with city or management, what permits you'll need, how much things will cost, how much time it will require. you'd need to get rid of the garbage somehow. you can't simply toss it to the curb. what time of day you can spend working inside the apt, and so on.

it's easier to buy an already renovated apartment or one that requires something like new paint and things like a new toilet/sink/stove/fridge/carpet, than to have to do full renovation yourself, which can cost around $50k-100k, or even more.

SOmething people aren't considering is the logistics....

What floor is it on? You are going to be carrying stuff up and down. Stairs? Tiny azz spiral staircase?
Demo: Where are you putting the debris? No way you can put a dumpster on the sidewalk. Double park a truck?

Can't even imagine remodeling a city unit myself, I can do the work if there is a driveway. So much to this besides just "remodeling"

That place also probably has knob and tube electrical, good luck with that. Most electricians won't touch that

Brutal.

Frr