Wanted to say thanks to all of the people here sharing ideas in regards to the current market, specifically those pointing out the horrid conditions and calling out ridiculous broker pitches. It is obvious to a lot of people that understand basic economics that the current state of affairs is by no means sound. It's important to remember a whole lot of people need advice, and as long as people... [more]
Wanted to say thanks to all of the people here sharing ideas in regards to the current market, specifically those pointing out the horrid conditions and calling out ridiculous broker pitches. It is obvious to a lot of people that understand basic economics that the current state of affairs is by no means sound. It's important to remember a whole lot of people need advice, and as long as people throw money away, the market will keep perpetuating itself, barely.
Anyhow, got a large 2 bedroom walkup spot in the EV for 2100, was 2650 before with no broker fee, negotiated directly with the owner.
Two out of three brokers I had met with were down to earth in regards to the market, almost desperate. Unfortunately, the inventory I was shown was quite subpar, one apartment had a separate kitchen, so small that the stove door could not open more than 1/4 way. Seriously.
Unfortunately, the third broker with one of the larger firms kept insisting that the rental market is being "inundated" with newly gradated college students. If I had not signed then, of course there would be nothing.
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Response by supplyndemand
over 16 years ago
Posts: 4
Member since: May 2009
graduated
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Response by jmkeenan
over 16 years ago
Posts: 178
Member since: Jan 2009
Wow, great deal -- where did you find the apartment, Craigslist?
Been looking in bklyn, but landlords haven't gotten the memo there yet.
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Response by manhattanfox
over 16 years ago
Posts: 1275
Member since: Sep 2007
Good for you. Brokers are screaming "there are so many good deals out there!!!" As if you should justify buying 35% higher than the floor so that they can earn a commission right now.
It is unfortunate as they are so used to a frothy market --- but the scams are gross.
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Response by supplyndemand
over 16 years ago
Posts: 4
Member since: May 2009
I did find the spot on Craigslist, although I used Urban Sherpa in order to figure out the management company contacts.
I have a feeling that the summer months will do some serious damage to the going rates for BK apartments in prime areas. Although there's probably an argument to be made that smaller landlords in those areas will be making an attempt to hold out as long as possible.
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Response by dru85
over 16 years ago
Posts: 20
Member since: Mar 2009
what are the cross street for the EV apt? is it alphabet city?
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Response by citi10009
over 16 years ago
Posts: 14
Member since: Sep 2008
Stuyvesant Town rents are down 20% from last year. 1BRs can be had for $2500.
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Response by supplyndemand
over 16 years ago
Posts: 4
Member since: May 2009
dru85, right on the edge, in between A and B very close to the park.
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Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
citi, in 2004 PCV 2/2s high-floor went for $2750. Lots of room to fall.
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Response by dru85
over 16 years ago
Posts: 20
Member since: Mar 2009
I feel like I need to start looking in Alphabet city more for my price range of $2500 for a 2-bed. I just got out bid for an apt. on 210 W. 10th 2A and getting sick of it.
Asking price: $2495
my bid: $2550
Top Bid: $2800 <--- What the F**k?
graduated
Wow, great deal -- where did you find the apartment, Craigslist?
Been looking in bklyn, but landlords haven't gotten the memo there yet.
Good for you. Brokers are screaming "there are so many good deals out there!!!" As if you should justify buying 35% higher than the floor so that they can earn a commission right now.
It is unfortunate as they are so used to a frothy market --- but the scams are gross.
I did find the spot on Craigslist, although I used Urban Sherpa in order to figure out the management company contacts.
I have a feeling that the summer months will do some serious damage to the going rates for BK apartments in prime areas. Although there's probably an argument to be made that smaller landlords in those areas will be making an attempt to hold out as long as possible.
what are the cross street for the EV apt? is it alphabet city?
Stuyvesant Town rents are down 20% from last year. 1BRs can be had for $2500.
dru85, right on the edge, in between A and B very close to the park.
citi, in 2004 PCV 2/2s high-floor went for $2750. Lots of room to fall.
I feel like I need to start looking in Alphabet city more for my price range of $2500 for a 2-bed. I just got out bid for an apt. on 210 W. 10th 2A and getting sick of it.
Asking price: $2495
my bid: $2550
Top Bid: $2800 <--- What the F**k?