Buildings with larger (possibly alcove?) studios?

I just visited a friend who recently moved into 1 Jane St. It's a nice bldg with big studios (and separate kitchens). They may be on the high end of your price range but it cant hurt to see if the management company has anything available

Have you tried the Park West Village buildings? 372 CPW, 382 CPW, 392 CPW, 400 CPW. There are two different sizes of alcove studios in the buildings -- one with a 9x7 alcove, the other with a 10x13 alcove. The living room areas tend to be about 20x10 or 20x12. They're doorman buildings, many have gyms, some apartments have park views, and many of the studios of this size fall in your stated price range. They are located right next to the 96th street B/C train.

By the way -- I've given you the info for the Condo side of PWV. There's also a 100% rental side, west side of Columbus between 97 and 100. Just walk into the management office there and you shouldn't be charged a broker's fee.

about 1 hour ago
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report abuse I just visited a friend who recently moved into 1 Jane St. It's a nice bldg with big studios (and separate kitchens). They may be on the high end of your price range but it cant hurt to see if the management company has anything available

nothing available there now, nothing available there without the help of a broker in any event. alcoves run around 2600 per month or so here, WHEN there is availability. and a nice healthy 15% commission payable as well

Georgetown Plaza on 8th street and Broadway has huge alcove studios with separate dressing areas (and cool views). Its a condo building but rentals are frequently available. No idea of the costs probably high but not super high end. R and N local right on corner. N express a few blocks up at Union Square. Its also a short walk to the West 4th Street station where you can get all the sixth avenue trains.

look in the Parc Vendome -- 333 West 56th, 353 West 56th, 340 West 57th and 350 west 57th. Doorman building. Lots of big straight studios with separate kitchens and big former Murphy bed closets you can wedge a bed into. The one I own is rented, but there should be others. you may have to pay a fee though.

ali r.
DG Neary Realty

Thanks everybody. Keep them coming! I only have a few weeks left to find a place, and brokers haven't had anything great to show me, so I figured it's time to try a new approach...

i see that 48 West 73rd street has alcove studios that are about 550 square feet. That is a great address and the apartments are nicely renovated. .

ignore the pictures on streeteasy, Karla is using stock photos prior to a renovation ;).

Thanks. I've already seen many of the places that are listed on StreetEasy--was hoping to find some (hopefully no fee) buildings that aren't necessarily advertised on here. Particularly interested if anybody knows of stuff in Gramercy, Union Square, Chelsea, or the Village--I've lived on the UWS for years and know the stuff in this area pretty well, but downtown is a very different story!

I guess I should also mention that I'm looking for something sunny. I'd say at least half of what I've seen so far has an interior, um, "view" like 48 W. 73rd. I have a wall outside my window right now, and since that and space are the reasons I'm moving, it's a bit of a dealbreaker :)

Try this one. Small but very unique. Neigborhood is great. Right next to 1.

http://streeteasy.com/nyc/rental/615374-coop-600-west-111th-street-morningside-heights-new-york

Tapdance: E-mail me about the studio I'm currently living in, and moving out of in mid-July. My fiance and I are moving into another apartment in the same building, which is a small brownstone, prime UWS. I have loved this studio, and the kitchen is its best feature (I also cook a lot). My landlord will be listing it in the next couple days, so there's no fee.
I have no ulterior motives in posting this, other than good karma in helping my landlord find a tenant to replace me.
laurahazardowen @ gmail

The PWV condo buildings all have bright open views, especially the ones facing south.

tapdance, i thought about it a little more and you're going to pay a fee, but I love 1 University and 225 West 12th street... there is a 1 bedroom at 12th for $2695 on the 4th floor and at 1 University, the studios are usually huge and there is one for 2295 on the 17th floor. Two year leases, no dogs... doorman, great location, nice buildings ;)

I haven't gotten an update from the broker of the building since Friday, but the studio i'm thinking about is 15X20 and has a terrace.

Thanks for the additional info! (Laura, I just sent you an e-mail.) I will check out some of these places.

http://streeteasy.com/nyc/building/the-left-bank

I just saw this listing. Does anybody know anything about the building (77 W. 15th Street)? I'm especially interested in seeing things in this part of town. Might call tomorrow, but would love some advice from the folks on here first.

Tapdance42, The nice alcove studios I've seen listed on the UWS seem to be priced at 2600. The super nice or brand new, 2900 or 2500 net effective with two months free. I'm very curious if you find something with an alcove in your price range, so please post your results. I would think Yorkville would be your best hunting ground for a well priced alcove studio although that doesn't seem to be an area you are considering.

The Dorchester condo is popular choice on W 68th St where there is a large studio, no alcove, asking 2200

I'll see what happens. There don't seem to be many alcoves on the UWS, and the one bedrooms are all in poorly maintained walkups, which is why I'm looking at other 'hoods. I really have no desire to live too far to the east, though--it's just not convenient to anywhere that I go on a regular basis.

I will just stay in my current place if I don't find anything better by mid-July, but I'm still hopeful. If I'm paying $1850 for a small studio in a beautiful building, I figured that for a few hundred dollars more, I'd get the same quality building with a little bit more space, but unfortunately, that doesn't seem to be how it works!

Ar, want to provide some macroeconomic insite for this poor apt hunter? W67, what's' your take on why this person can't find an apt?
Maybe beacause there is very little inventory? That's the logical answer

Jim, there is vacant inventory, LL are just exercising pricing discipline which can work against the tenant. Check out the number of advertised units at the Montana on W 87th St. I think the vacancy is like 7% in that building but the pricing is very disciplined. Most Rental buildings don't list all of their vacancies, only a sampling, right? Could there be collusion going on? Either way, I'm glad I'm not paying anywhere close to those rents.

Montana: 247 west 87th St. the number of listings might be inflated by multiple brokers listing the same units? 12 units listed out of 156 total?

PMG
about 1 hour ago
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report abuse Jim, there is vacant inventory, LL are just exercising pricing discipline which can work against the tenant. Check out the number of advertised units at the Montana on W 87th St. I think the vacancy is like 7% in that building but the pricing is very disciplined. Most Rental buildings don't list all of their vacancies, only a sampling, right? Could there be collusion going on? Either way, I'm glad I'm not paying anywhere close to those rents.

pmg i know that landlord well. one of the big ones, and they list all of their vacancies. some of what you see are not as yet ready to rent units (being renovated but vacant). there is very little negotiating with them. i've seen them in similar circumstances lease up in a month, then not have more than one or two vacant apartments at a time for months on end (in one building, not portfolio wide)

PMG
about 1 hour ago
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report abuse Montana: 247 west 87th St. the number of listings might be inflated by multiple brokers listing the same units? 12 units listed out of 156 total?

also very likely, these are open listings

I would be interested in that info. I've done the apartment search a few times in the past (always in much more competitive markets) and was really looking forward to this move. People kept telling that now was the time to get "more" for my money, and yet, most of what I've seen has been smaller or significantly less nice than what I already have! Very surprising and disappointing.

I'd also be curious as to why so many landlords on the UWS renovate JUST the apartments and not the buildings themselves. I've seen several apartments that were nicely renovated, but were in such terribly maintained buildings (crumbling tiles, bare floorboards, cracked glass, dirty hallways, rickety elevators, railings buried under half an inch of dust, you name it) that there is no way I'd consider living there. I assume it's because somebody will always take the place, even in a bad building, but do they realize that they'd get better-quality tenants (and could probably collect more in rent) if they kept the buildings up?

I wonder if this is just the trend in pre-war buildings on the Upper West Side, or if landlords all over the city are doing the same thing? These aren't $1500/month places, either--even lots of stuff priced in the mid-$2000s is in truly heinous buildings.

Re: not renovating buildings.

I assume its costs. I would think that renovating multiple apartments would be less expensive than fixing an elevator or getting a new one.

jim_hones10: Since you're supposedly an amazing rental broker, why don't you give Tapdance42 some tips on places that meet his/her criteria, instead of just telling him/her what he/she can't afford? I'm sure you know some places, even ones with a commission, that fit the bill.

i don't try and solicit business on here, never have never will.

but i love the anectdotal evidence from a live, looking to move renter that it ain't the market the bears would pretend it is.

It most certainly is not the market I was expecting! Right now I'm in a nicely maintained elevator building with live-in super, in a prime West 80s location. The apartment was fully renovated (new floors, marble bath, granite countertops, dishwasher, etc.) right before I moved in. The only drawback is that it is small and not that bright. I've been here for four years, and thought this might be the time to move and gain some extra space in roughly the same quality building. However, I'm surprised to find that to GET that extra space, I have to give up the elevator, super, renovations, nice building, etc., even for $300-$400 more than what I'm paying now! Great market in which to move? Not so much.

Tapdance42, what's your address?

PMG, would prefer not to give the exact address since I haven't told management (or even officially decided!) that I'm leaving. But it's a large pre-war building in the West 80s. No doorman, but very nicely maintained and managed.

I'm struggling to find similar buildings--it seems I can either get a larger apartment in a crappy walkup, or a teeny tiny studio in a high-end luxury building. There must be some "middle ground" out there (just a nicely maintained/managed elevator building--I don't need a doorman or luxury amenities), but it seems to be the hardest to find...

102 W 85? It's known for having nicely maintained small prewar straight studios in the mid 80s in your price range. I still say you have to pay a premium for an alcove, but keep abreast of the condo's on the UWS or elsewhere, for owners looking to rent at a discount.

You can make this broker a rental offer. The owners bought at a low price, no mortgage, and are trying to cash out, so your chances may be slim. The renovation might be dated. I haven't seen it, but you won't find a better alcove studio.

http://streeteasy.com/nyc/sale/514481-condo-222-riverside-drive-upper-west-side-new-york.

I'm not necessarily married to an alcove. A big studio (something that could be divided up to have a bedroom "area") is obviously an option as well. It would just need to be bigger than my current space (10X18) and get more natural light.

You would do yourself a favor to make an offer on that alcove studio. There are four windows, excellent light, two hvac units allowing for junior one bedroom option, full kitchen, marble bath w/ w/d, full service elevator building with garage, gym, on Riverside Park, two short blocks from a new express subway. 547 square feet per offering plan, dated 1988, when square footage was genuine eg didn't include % of the common elements.

Thanks PMG. It does look like the kind of apartment I'm searching for. How would making an offer on something like that work? Also, what would happen if I rent and then the owners decide to sell? I could find myself going through this whole apartment search thing again in a year...right?

The owners always have the option of selling. When you make an offer, explain that you would be interested in yearly renewals. You can suggest that you will be a reliable source of rental income if that is one of their goals. If the sellers are just looking to invest the sales proceeds for income, they may bite because finding income investments is extremely difficult in this low interest rate environment. The owners are retirees. They won't bite if they are convinced that they will get less for their investment in a year or two. Also, the broker will be biased for a sale, to earn a higher commission. But you won't find a better alcove studio, so it's worth trying. The river view is superb. I've looked at many uptown alcove studios and found only one better: that was on CPS with a view of Central Park, in a pricier district.

I viewed that unit when it was last on sale, before the current owners bought in the 90s

I love it up here on the "Upper Upper West Side" -- I'm off Riverside in the 90s -- but really, if the OP is looking for a nice $2,300 rental, is buying a condo with a $4,400 monthly carrying cost (I'm assuming paying list with around a 5% mortgage) the way to go?

Of course that apartment's nice, but surely similar could be rented for $3K -- I mean, once we're spending all the OP's money ...

ali r.
DG Neary Realty

Ali, I was suggesting that that he offer to rent it. The owners are retirees that might be attracted to the income of a long term tenant. If they don't have a specific need for the sales proceeds, but are going to invest those proceeds for income, they might be negotiable. They might not be interested in getting top dollar from a tenant that is going to complain that everything is in top condition. I think the issue would be a broker looking to make a sales commission might not show his rental offer to the owner, arguing that his offer is under market or not requested. But then the broker is acting in their best interests, rather than forwarding all available market data to their client.

Plus, Ali, the owners costs are less than $900 per mo. You don't know what they might consider.

Ali, I don't mean to insult you with your Harvard degree and all, but after selling at ask of 549k, paying a 6% commission, and capital gains of at least $50k, the sellers could invest in 10 year treasuries, for extra yield, but certainly not safe, and earn $1165 per mo. I think the rental option, even at $2300 is not an outrageous option. It's a full service building with a super on hand for tenant issues.

PMG, why would the sellers pay capital gains on a $549K sale? If it's been their primary residence for two of the past five years, they can skip K gains to the tune of $250K per individual/$500K per married couple.

I am impressed with your research skills that you know their financial situation, but IME, just because owners have the capacity to rent or sell something at a below-market price doesn't mean that they will.

ps. It's okay to insult my Harvard degree, my Northwestern-educated hubby does ALL the time.

ali

LOL you're a good sport. You make a good point. I know that they have never lived in the unit, not that they may not claim otherwise, however--it's always been a pied a terre based on tax bills