Does anybody know anything about this building? I'd bookmarked it as a promising listing, until I noticed that almost half of the apartments in the building have changed tenants within the past year--and that's just what's been listed on StreetEasy. The building is described as well-maintained, and the location seems good. (It also appears to be rent stabilized?) Searches on various city websites... [more]
Does anybody know anything about this building? I'd bookmarked it as a promising listing, until I noticed that almost half of the apartments in the building have changed tenants within the past year--and that's just what's been listed on StreetEasy.
The building is described as well-maintained, and the location seems good. (It also appears to be rent stabilized?) Searches on various city websites failed to turn up any serious violations, but I don't want to look at a building that has a major problem with tenant retention, since it usually means bad management, noise issues, bug problems, etc. The only other thing I can figure out is that they emptied the building for major renovations?
There must be some reason nobody is staying, especially in a rent stabilized building. Anybody have any insight?
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Response by snezan
over 15 years ago
Posts: 73
Member since: May 2009
You haven't seen this apartment actually right?
there's a few things kind of weird about that listing:
1. The apartment numbers they use don't exist. In that building, each apartment has a number for the floor and a letter for each line of the building. The realty company (whom I've never heard of by the way) uses 1,2,1 etc...
2. The prices that I see in my system, which is proprietary, do not match theirs. I only show 1 vacancy in June, which rented for $2300. There were two in May, both for $2100.
I do think it's interesting that you have this whole theory for the building becoming vacant ;). It's cute. Probably it's a fake listing.
If you'd take my advice, you would look into 1 University Place, as long as you're not a student, their studios are gorgeous and the owner has been renovating. 2 year leases, long term tenants. Other than that, one of the coops alongside university place are wonderful.
Anyhow... hope that helps.
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Response by Tapdance42
over 15 years ago
Posts: 52
Member since: May 2010
Thanks. My "theory" about clearing the building is based on something a broker told me--that if there are a number of vacancies in a building, it's often because a floor/section of the building had been emptied for renovation, and they're starting to fill it from scratch. I take it this was not the truth? (I'm no longer working with that broker, by the way, although she did seem honest.)
I'm not a student, but since I'm a freelancer I've always needed a guarantor in the past, and assume that I will again. This seems to be the issue with most coop buildings that I've looked at--they won't take the guarantor, and won't qualify me on my own. Also they have lots of fees attached (high application fee, move-in, etc.) which I'd only pay if I could stay there long-term. I think I will have more luck qualifying for a rental building.
When do vacancies start to rise? October? I've decided that if I don't find something in the next few weeks, I will put my stuff in storage and sublet for a few months instead of settling for something I don't love.
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Response by Tapdance42
over 15 years ago
Posts: 52
Member since: May 2010
P.S. I did look up 1 University, and according to StreetEasy there are no units available?
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Response by snezan
over 15 years ago
Posts: 73
Member since: May 2009
1 University does not list on Streeteasy. If it shows up there at all it's because our listing agent accidentally marked it that way.
I don't know any info about your guarantor so I can't really say why they would deny you. Usually if your guarantor is related, is tri-state and earns 90 times the rent, no one could possibly say no. If you're a freelancer and you earn off the books mostly, then just bring a 6 months of rent slips that show you're on time and your guarantor and it should be fine.
Please note that the broker who has the exclusive on the building charges a 15 percent broker fee... no getting around it.
best
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Response by lxs
over 15 years ago
Posts: 1
Member since: Jun 2010
I looked at an apartment at 133 E. 17th a month or so ago - the apartment was far different in layout from the one pictured, and the building is elevator, not walk-up. No pets were allowed, and unrenovated apartments there began at $2550. There was definitely nothing close to $1900. Weird.
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Response by Tapdance42
over 15 years ago
Posts: 52
Member since: May 2010
Interesting, lxs. I thought $1895 seemed awfully cheap for a 1BR in that location--that and the high turnover rate were both red flags. Also if you look at the previous listings for the building, many say it is rent stabilized, although this particular one does not. How strange.
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Response by snezan
over 15 years ago
Posts: 73
Member since: May 2009
also the only other apartment they list is a condo rental which is someone else's exclusive anyway.
clearly an incorrect listing... these and the other apartments they have listed are either fake or they have been placed under the incorrect address.
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Response by snezan
over 15 years ago
Posts: 73
Member since: May 2009
vacancies tend to be highest in the summer months because that's when most people move... it's just that you're in competition with a lot of people. My experience is that October is not any easier because rents are the same as in the summer but there are fewer vacancies. The week after New Year's is the best time to rent an apartment, although who wants to move in the winter?
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Response by Tapdance42
over 15 years ago
Posts: 52
Member since: May 2010
Wow, yeah, no way I'm putting my stuff in storage until January! Thanks for the input.
You haven't seen this apartment actually right?
there's a few things kind of weird about that listing:
1. The apartment numbers they use don't exist. In that building, each apartment has a number for the floor and a letter for each line of the building. The realty company (whom I've never heard of by the way) uses 1,2,1 etc...
2. The prices that I see in my system, which is proprietary, do not match theirs. I only show 1 vacancy in June, which rented for $2300. There were two in May, both for $2100.
I do think it's interesting that you have this whole theory for the building becoming vacant ;). It's cute. Probably it's a fake listing.
If you'd take my advice, you would look into 1 University Place, as long as you're not a student, their studios are gorgeous and the owner has been renovating. 2 year leases, long term tenants. Other than that, one of the coops alongside university place are wonderful.
Anyhow... hope that helps.
Thanks. My "theory" about clearing the building is based on something a broker told me--that if there are a number of vacancies in a building, it's often because a floor/section of the building had been emptied for renovation, and they're starting to fill it from scratch. I take it this was not the truth? (I'm no longer working with that broker, by the way, although she did seem honest.)
I'm not a student, but since I'm a freelancer I've always needed a guarantor in the past, and assume that I will again. This seems to be the issue with most coop buildings that I've looked at--they won't take the guarantor, and won't qualify me on my own. Also they have lots of fees attached (high application fee, move-in, etc.) which I'd only pay if I could stay there long-term. I think I will have more luck qualifying for a rental building.
When do vacancies start to rise? October? I've decided that if I don't find something in the next few weeks, I will put my stuff in storage and sublet for a few months instead of settling for something I don't love.
P.S. I did look up 1 University, and according to StreetEasy there are no units available?
1 University does not list on Streeteasy. If it shows up there at all it's because our listing agent accidentally marked it that way.
I don't know any info about your guarantor so I can't really say why they would deny you. Usually if your guarantor is related, is tri-state and earns 90 times the rent, no one could possibly say no. If you're a freelancer and you earn off the books mostly, then just bring a 6 months of rent slips that show you're on time and your guarantor and it should be fine.
here are some pictures of the one that is available... i don't know how accurate the photos are... on the 8th floor.
http://markdavidny.com/detail.aspx?id=796981
Please note that the broker who has the exclusive on the building charges a 15 percent broker fee... no getting around it.
best
I looked at an apartment at 133 E. 17th a month or so ago - the apartment was far different in layout from the one pictured, and the building is elevator, not walk-up. No pets were allowed, and unrenovated apartments there began at $2550. There was definitely nothing close to $1900. Weird.
Interesting, lxs. I thought $1895 seemed awfully cheap for a 1BR in that location--that and the high turnover rate were both red flags. Also if you look at the previous listings for the building, many say it is rent stabilized, although this particular one does not. How strange.
also the only other apartment they list is a condo rental which is someone else's exclusive anyway.
clearly an incorrect listing... these and the other apartments they have listed are either fake or they have been placed under the incorrect address.
vacancies tend to be highest in the summer months because that's when most people move... it's just that you're in competition with a lot of people. My experience is that October is not any easier because rents are the same as in the summer but there are fewer vacancies. The week after New Year's is the best time to rent an apartment, although who wants to move in the winter?
Wow, yeah, no way I'm putting my stuff in storage until January! Thanks for the input.