Can someone explain this stupid rental

the cost is clearly because andrew a. needs more income because he's just about to run out of hair products. salon quality isn't cheap you know. quit being a tightfisted cheapskate and pay up now. andrew needs you.

AR seems to know far more about this than I. My thought is that it's new construction & lots of glass PLUS it's furnished and the owner wants to be sure that it is properly maintained.

AR...hehe...she has nothing against him in the hair department!

Well this is either 4F or 5F and the cheaper of the two 5F sold for $955,000 and has monthly charges of $740, so with the furnishings, probably not a bad price actually. I mean the owner gets $4995-740 per month or about $51000 for the year so that is about a 5.3% rental rate or less if you put the furnishings in the cost of the apartment too.

you're not joking? not a bad price for whom? the purchase price has nothing to do with the eventual renting price. that's we bears' point. i was looking at a place on central park north today. at recent purchase price would be over $15000 a month. still seems a bit pricey at around $7000 per month to rent.

What do you mean? Who is we bears?

some who think that $5000 a month for less than 900 sf (using the newest condo measuring techniques, no less) in this sub-prime chelsea area is absofnglutely absurd.

The proof will be in the pudding, furnished rentals with housekeeping service are a bit different. It's hard to compare with an unfurnished place, it's a different population. I wouldn't call that area subprime. Isn't it right by Whole Foods? Anyone working in midtown could walk to work.

actually, maly you're correct on the location generally. but i am pretty sure that's not the best of blocks.

you need to compare it to what else is out there. easy these days to get housekeeping, and i'd think that being furnished would be a negative. not many looking for corporate rentals these days.

Apparently Andrew's hair products have seeped into his brain. At BEST this apartment is 685 square feet.

Decent-sized bedroom, cramped "living/dining" room. Only one bath. Less than stellar area.

Hold the maid service, keep the crappy furniture, and drop the price by $2000/month and someone might just sign a lease.

(I also think it's rather telling when there are no pictures of the actual apartment. Who the hell cares what the lobby looks like?)

You guys are spouting complete nonsense. Not the best area? In what way? It's got banks, Starbucks, Whole Foods, hundreds of restaurants within 3 blocks, it's safe and close to subways. What else does a professional in NYC for a year or less need?
You could argue it's too expensive (I wouldn't know, I'm not very familiar with furnished rentals), but the rest of the complaints are sour grapes. I can't believe that AR in particular dissed the neighborhood, when it is 1block from the Mercantile. I thought you liked that building?
Personally, I think they should have included the cleaning services in the asked rent.

Is that really 800 sf + - it looks tiny.

http://www.streeteasy.com/nyc/rental/573833-condo-205-east-59th-street-lenox-hill-new-york

maly, i live in PCV, i'm no stranger to location compromise. i want the merc for the ceiling heights, room dimensions, loft layouts that actually create adequately sized bedrooms with ensuite master baths and what i may be mistakenly perceiving as relatively high levels of financial health for a pre-war condo conversion. it is a very specific set of parameters.

Because that's what it costs the owner every month because he overpaid. Easy to get a virtually identical apartment in another building for $3,000 a month.

Such are the joys of overpaying for real estate: THE TAX BENEFIT!

AR, did you check out the layout for that rental? It's not really a 2 bedroom, not unless you don't mind people traipsing through a bedroom to get to the kitchen and living room.

Right across the street, the Chelsea landmark has a real 2BR with a windowed kitchen and southern exposure for $5350 before concessions:

http://www.rosenyc.com/No-Fee-Rental/Chelsea-Landmark.aspx

And, I just have to say, this was hilarious:
> It's got banks, Starbucks, ...

I'm sorry. That set of qualifications for a "good location" in Manhattan is about as discriminating as a night in paris (which, incidentally, the store across the street from the stratus was advertising in their window for a long time when it first came out).

I will say that one block from the merc to the stratus -- seven to six -- is a big leap in terms of neighborhood quality. On the other hand, sixth does have some things going for it. David's Bridal is in the stratus, which is convenient for your formalwear rental needs. There's a Tmobile if you decide you want to pick up a Sidekick or a Pre. And, the Landmark is where Ms. Dupre was living when that whole scandal broke. Good times.

of course i checked it out. i was using it as a one bedroom to one bedroom comparison, although you could probably easily and legally make that into a two bed but the dimensions of the second bedroom would be five feet shorter than listed.
honesty forces me to admit that for a two bed the closet situation would bite, but i wasn't running a search or anything. i was looking at another unit for sale in that building and just happened to notice it.

Skinny, I first made that exact same argument nearly 2 years ago when I predicted this crash. Used the EXACT SAME BUILDINGS as one of my comparisons. I got laughed at by spunky.

Where's spunky?

Steve: I know. I remember. (Even the comment about the added burden having to decide which of your two bathrooms to use.)

or if you'd like the supreme joy of having an outback and an olive garden in your building, you could rent at the caroline, which doesn't seem to be able to give away apartments these days.

Active Listings (7)
$18,500 60 West 23rd Street 2 beds
↓ $4,795 60 West 23rd Street 2 beds
$3,495 60 West 23rd Street 2 beds
$3,175 60 West 23rd Street 2 beds
↓ $3,150 60 West 23rd Street 2 beds
$3,150 60 West 23rd Street 2 beds
↓ $3,000 60 West 23rd 1 bed

LOL One bedrroom rentals are going for $3600 to $4300 right now in rental doorman buildings.

The funniest thing about that Olive Garden is that there is actually a line there on Friday nights. I imagine Cathy and Kathy from the Kids in the Hall eating there.

i ate there once just to see why people did. volume. most amazing portion sizes.

http://www.streeteasy.com/nyc/rental/573025-rental-170-west-23rd-street-chelsea-new-york

$2800, 32 foot living room, 17 foot bedroom, listed as 700ish sf, in doorman condo.

The list was tongue-in-cheek, I just forgot tree-lined-street to my list. I suspect what makes a great location is in the eye of the beholder, but clean, safe, centrally located and close to subways and services (that would be Starbucks and dry cleaners for the hard-working and much-maligned professional type.)
Are there many furnished rentals available? If I came here as an expat for a 2 year stint, it might be better to arrange for a rental rather than stay at those depressing extended-stay corporate hotels.

I am sorry but this apartment's pricing is an absolute joke.

First, it is more like a "liveable" 700 sq ft (not 822). Not to argue about sq ft, but this is just a standard small one-bedroom.

Second, south of the location might be nice, but just a block or two north gets strangely ugly quick. During the day several blocks are full of shady characters "working" at some cheap clothing stores and at night the area seems relatively dead. Not exactly a safe mix in my book.

Third, the price is absolutely ridiculous - no matter what this tiny space is furnished with. They might be able to ask for $3,500 because it is furnished, but it probably should be closer to $3,000. As pointed out, there are NO pictures of the actual apartment and its furniture. These people have the nerve to ask for so much and then don't go out of their way to take a couple of interior shots? That would make me suspicious even if the price was a lot lower.

Fourth, what the heck are they asking for $400/mo for cleaning expenses? A) That should be included in the rent; B) They are obviously over paying for someone to clean such a small space - unless they are spending 6 hours scrubbing the apartment with a toothbrush. C) Don't plan to get your security deposit back without a fight after just sitting on the couch of such outrageous owners. If they have the nerve to ask for $400 for cleaning will look greedily at the security deposit as another source to pay off their mortgage.

This apartment's pricing is a perfect example of someone that this desperately trying to cover their carrying costs because they paid far too much about 2-3 years ago. The only way this is going to rent is if some rich family or free-spending corporation decides that the must put their baby in this building, no matter what the cost.

You have to admit the owner had..you know what!!!! Yes, it is very, very overpriced but then to insist the tenant has to pay $400 per week for cleaning is outright hilarious!!! And yes, can you imagine the argument when moving out?? If the owner is so nervous about the place being well kept include it in the rent...
The ONLY chance they have of renting is as a corporate apt and the is a long shot...
Oh, do you have to pay for cleaning the weeks you are away on vacation i wonder...hhhhmmmmm

You can't find a high quality 1 BR for $3000
That said, there's also a $9000 brokerage fee with this apartment.

I handle a few "short term" furnished rentals (1 month-3 months). Although this summer proved trying to rent out a few spaces that usually go very quickly-there is a market for clean, quality space. Many short term furnished places are really crap that many corp. types would not consider staying in.

I think if they are willing to rent at say 2-3 month clips at this rent it's not such a bad deal...relative to what a quality hotel suite would fetch per day. It is very difficult to rent a furnished apt. for 1 year, unless you can get a large business that needs room for employee's that are coming into town on a regular basis. Then it is much more affordable than daily hotel rates.

For instance I have a two bedroom/private deck/w/d furnished apartment in a limestone mansion on West 86th Street(near park). I would have a difficult time getting $5000 per month for on a 1 year lease, however people on holiday/biz trips will pay $2500 dollars a week for it.

Just another perspective on the market for such a property.

"You can't find a high quality 1 BR for $3000"

Really?

$2,862 1-Bedroom at Chelsea Centro
$2,908 1-Bedroom at Chelsea Centro
$2,908 1-Bedroom at Chelsea Centro
$2,954 1-Bedroom at Chelsea Centro
$2,954 1-Bedroom at Chelsea Centro
$2,954 1-Bedroom at Chelsea Centro
$3,050 1-Bedroom at 21 Chelsea
$3,050 1-Bedroom at 21 Chelsea
$3,050 1-Bedroom at 21 Chelsea
$3,050 1-Bedroom at 21 Chelsea
$3,150 1-Bedroom at 21 Chelsea
$3,150 1-Bedroom at 21 Chelsea
$3,150 1-Bedroom at 21 Chelsea
$3,150 1-Bedroom at 21 Chelsea
$3,150 1-Bedroom at 21 Chelsea
$3,323 1-Bedroom at Chelsea Centro

So much for that theory.

Plus: NO FEE!

I'm a renter in a lux rental building & agree this is overpriced for this market, even furnished.

It was a bad decision (and tacky) to make that cleaning charge such a big deal. Much smarter to make it a perk by "including" weekly cleaning (& adjusting the price accordingly) if owner is so fussy. Now they just look like a landlord I'd never want to deal with & be terrified of even normal wear & tear. Fwiw, I don't think the actual cleaning charge is that ridiculous, assuming the housekeeper is willing to wash bedding & change sheets. I pay $120. a week for a really good quality clean.

Rockrose is advertising rentals at Hudson Yards, starting at around $2500 for a one bed and $4000 for a two bed. not a location i'd choose, but interesting pricing.

http://www.455west37.com/