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Rent for a Big Six?

Started by rsm321 PRO
almost 16 years ago
Posts: 94
Member since: Feb 2009
Discussion about
1800 SF -- The kind where the living room is 25x13 and the kitchen has its own island with 6-stool granite counter top -- and fully renovated with 2.5 baths. It's on a low floor but the Western light and views are nice (treetop). It's a full-service rental bldg and the rent includes electric. No broker's fee. I have an opportunity to get in at what I think is a great rent but I don't want to overpay. Any thoughts?
Response by rsm321 PRO
almost 16 years ago
Posts: 94
Member since: Feb 2009

Sorry...on 106th and Broadway

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Response by ph41
almost 16 years ago
Posts: 3390
Member since: Feb 2008

How long have you been looking? How many apartments did you see? Have you seen anything else that you like? If you did, how did the price compare with this unit? Obviously you like this apartment (sounds great), you think it's a very good price. So, why are you asking this question, especially when you haven't posted the asking price, building amenities (doorman no doorman, etc. roofdeck)? The opinions of lots of strangers is going to make the difference?

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Response by rsm321 PRO
almost 16 years ago
Posts: 94
Member since: Feb 2009

I wasn't really looking...just heard about the apartment through a friend and it's a bigger space than we have now so...

The building has a doorman.

I'm not posting the price because I want to see what people think it's worth.

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Response by ph41
almost 16 years ago
Posts: 3390
Member since: Feb 2008

This is NY - if it's that good a price - by the time you get a lot of responses, digest them and make a decision, the apartment will probably have been rented. Then again, if it's still available a week from now, then, possibly, it is overpriced.

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Response by 300_mercer
almost 16 years ago
Posts: 10577
Member since: Feb 2007

$6k assuming the sq footage is inflated a bit. If it were to be in 70s or 80s, $7K.

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Response by ph41
almost 16 years ago
Posts: 3390
Member since: Feb 2008

Isn't that estimate a little high for 106th & Broadway? Another UWS'er posted she had rented s classic 6, non-doorman building in the 70's for effective net rent of just under $6k , and even in rentals, location, location, location impacts price.

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Response by grunty
almost 16 years ago
Posts: 311
Member since: Mar 2007

106 and Broadway is very nice. 6K is about right.

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Response by Classic7_10023
almost 16 years ago
Posts: 9
Member since: May 2009

I agree with ph41 on pricing. I would say about $5K per month as you can get under $6k for the 80s/90s

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Response by uwsmom
almost 16 years ago
Posts: 1945
Member since: Dec 2008

yep, i think 5k would be a GREAT price, between 5-6k would be pretty good/ok. wouldn't pay anything more than 6k for that location.

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Response by rsm321 PRO
almost 16 years ago
Posts: 94
Member since: Feb 2009

Thanks everyone. The place is great! It's Boak and Paris' very first comission (they worked under Roth for years before going out on their own so it essentially has the proporionalitytod the huge Roth CPW buildings as, for their first building, they just copied him).

The rent is 4600 and it includes all the utilities -- we signed today. We thought it was too good to pass up but, as it just fell in our lap, we wanted a little verification :)

Thanks again!

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Response by columbiacounty
almost 16 years ago
Posts: 12708
Member since: Jan 2009

great deal...you should feel really good about it. enjoy.

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Response by UWSSeeker
almost 16 years ago
Posts: 1
Member since: Oct 2006

rsm - I am in the market for a similar apartment. Any leads on a good broker for that area? Where did you find that listing? Thanks in advance.

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Response by lizyank
almost 16 years ago
Posts: 907
Member since: Oct 2006

Wow..congratulations. And 106th street may not be prime A+ but it sure is prime. Sounds like a great apartment in very good and convenient location at very reasonable rent!!!!

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Response by wellheythere
almost 16 years ago
Posts: 166
Member since: Dec 2008

It's a beautiful building. Welcome to the neighborhood!

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Response by OTNYC
almost 16 years ago
Posts: 547
Member since: Feb 2009

nice work - not my favorite hood but safe and decent conveniences. for that price, it's a great move.

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Response by marco_m
almost 16 years ago
Posts: 2481
Member since: Dec 2008

how much would this place be to buy??

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Response by rsm321 PRO
almost 16 years ago
Posts: 94
Member since: Feb 2009

We didn't use a broker and I don't think the landlord ever uses brokers -- It's in a building that I have NEVER seen advertised. It's the kind of building where most of the people are controlled or regulated so very few apartments ever become available. We have friends in the building and I think the landlord was just happy to have someone they "know" and, subsequently, charged an undermarket rent.

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Response by inonada
almost 16 years ago
Posts: 7952
Member since: Oct 2008

"The rent is 4600 and it includes all the utilities -- we signed today. We thought it was too good to pass up but, as it just fell in our lap, we wanted a little verification :)"

Nah, you just came to gloat. Congrats, you a-hole ;).

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Response by uwsmom
almost 16 years ago
Posts: 1945
Member since: Dec 2008

rsm - wow, that is a great price (suspiciously great actually ;). congrats and enjoy! Absolute Bagel on Broadway & 108th is yummo.

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Response by ph41
almost 16 years ago
Posts: 3390
Member since: Feb 2008

Actually, what is potentially more suspicious is the thought that if this was a previously stabilized/controlled apartment (under $2,000/mo) it would be interesting to see how the owner got the rent to $4,600.

In the old days, a tenant would move in, and THEN ask to see the rent history of the apartment - people caught a lot of landlords putting through illegal increases. Not saying that is the case here, but it would be even more delicious if it were!

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