Rental at 310 West 97th Street, 3Bd $14k

Seems high, what isn't in Manhattan. This looks like a pretty special place though.

Seems high to me, 3 small bedrooms and only 2 baths and no doorman, and not the greatest neighborhood. Does it even have an elevator?

Looks like it was priced off the other penthouse, which the same broker leased for substantially more. The other apartment has a better balance of indoor and outdoor space, and superior views. This one is all about the big terrace. The ask doesn't seem crazy in relation to the comp, although it is pretty steep.

RENY: Yes, it's a doorman building, though not a particularly elegant one.

"Yes, it's a doorman building"

It's not mentioned in the building or apartment description. The only amenity listed is "live-in" super.

Why it's a fabulous neighborhood (;>). And yes that building has an elevator.

WEA is beautiful there and lots happening (West Side Market, tons of restaurants, clearly near Riverside). Agreed it seems a bit high though for other reasons, not necessarily the neighborhood.

RENY: Sorry, meant ELEVATOR building - in answer to your question. No idea why I typed "doorman".

You guys may consider a neighborhood to be a couple of blocks, but I consider that neighborhood to be CPW to RSD, 90th St to 100th i.e, where you'll be walking most of the time. I wouldn't consider that a "fabulous neighborhood", IMO "not the greatest" particularly for someone with that kind of money to spend.

COnsidering the fact that there are Harlem rentals on CPN and CPE asking even MORE, I'd say its not outrageous for today's Manhattan, no.

jason: give us some examples.

The first rented for $19,000 this year.

http://streeteasy.com/nyc/property/4292226-111-central-park-north-17flr

see in the same range as $9-10k:

http://streeteasy.com/nyc/rental/1071663-rental-181-lenox-avenue-central-harlem-new-york

http://streeteasy.com/nyc/rental/1084685-condo-111-central-park-north-central-harlem-new-york

$15,000

http://streeteasy.com/nyc/property/1099594-5th-on-the-park-2628c

$12,000
http://streeteasy.com/nyc/rental/1111447-condo-1280-5th-avenue-upper-carnegie-hill-new-york

$10,000
http://streeteasy.com/nyc/rental/1102456-condo-1280-fifth-avenue-upper-carnegie-hill-new-york

FYI "Upper Carnegie Hill" is just plain old East Harlem.

So you're comparing a 6 bedroom, 6.5 bath, doorman, gym, concierge, with almost 4 times the sqft to the property under discussion?

'Doorman' Borker slip of the keyboard. It happens.

Outdoor space = walk out the lobby and there is outside space
Convenient = not LIC
Fabulous views = windows look outside
Great investment = I make my 6%

Hello aaeeaall921. Welcome to SE.

"So you're comparing a 6 bedroom, 6.5 bath, doorman, gym, concierge, with almost 4 times the sqft to the property under discussion?"

No, idiot, I included 4 different 3 bedroom apartments in Harlem for the same $10k ish price range. Why are people like you so willfully ignorant?

Having rented a Penthouse apartment in that area I have to say that... there is no way to know if this is too expensive or cheap. Look at the penthouse that just sold in 825 WEA. $2.5 million for a smaller, less elegantly done apartment with an inferior terrace and view. (though i would still have loved it. It was superior, except in facing, than mine.)

If someone love the view they might pay for it. Very little like that that can be rented AT ALL.

For a bachelor (yes, someone might want the space if they can afford it I guess) this is an awesome layout. Terraces, views, sunsets, etc. are effective for what the bachelor generally intends. Others to might enjoy the view. It is very relaxing in this hectic city to sit above it all and watch the sunsets over the Palisades or to grill a meal.

I forgot to add that the neighborhood, while not particularly ideal in that corner, is pretty great and getting better. Still a lot of neighborhoody joints and restaurants, not just expensive or chains or trendy.

AvWUS, would a bachelor not prefer say Tribecca or Soho or Meat Packing or even EVill? And would he want 2 extra bedrooms? But someone will take this place.

Who knows. Not much of this quality of outdoor space and view available for rent in any size or price. Sure many would want downtown, but also depends on age of the bachelor. A newly divorced guy would love this place and the bedrooms for when the kids are with him. And he might prefer uptown to a younger downtown.

It certainly CAN rent at this price, question is how long is the owner willing to wait to find the right person. Clock is ticking. Fewer will desire the view and terrace come winter.

>> Having rented a Penthouse apartment in that area I have to say that... there is no way to know if this is too expensive or cheap.

I thought the 8+ months on the market (2 months at that price, 6 months at 10% higher) was giving me a clue. But never having rented a Penthouse apartment in that area, I guess I was mistaken.

http://streeteasy.com/nyc/rental/969443-condo-310-west-97th-street-upper-west-side-new-york

Hey jason, I looked at your first two examples and they were a joke so I didn't go any further. Why would you compare this apartment to a 14.5 room triplex brownstone. Also since when is $9000 the same as 14K; Genius.

Genius no. Retard yes.

Ino - I hadn't caught that. I never said it was a given, only that there is something great to be said for that kind of apartment. But they are renting it as if they were a seller, looking for the one person who recognizes its uniqueness. In that case giving up 10-20% of the price in order to move it a year sooner might not make sense. But it is a rental, and like you said, it is foolish to lose 8 months (going on 12?) of rent because the price is too high. Rent it and then jack up the rents year to year.

Though maybe they are doing short term rentals with the apartment and the listing is a "beard". It could certainly be worth a pretty penny per night for a large family staying a week or two in NY.

Certainly they spent a pretty penny on the renovation and are trying to get it back. I don't know how wise that was considering you will be renting it to someone else.

"Hey jason, I looked at your first two examples and they were a joke so I didn't go any further. "

Like I said, willfully ignorant.

I guess retard is better than willfully ignorant.

http://streeteasy.com/nyc/rental/1084685-condo-111-central-park-north-central-harlem-new-york
$9,500, 111 Central Park North in Central Harlem

i like this one better because of the views, but it hadn't even rented yet. isn't the failure to rent for 4 months a sign of over-pricing? this one will start on Sep though, so they might not be willing to negotiate in price. when the apartment is already vacant, what's the typical vacancy period between leases of 2Bd / 3Bd rentals in Manhattan?

wow!!!

i take that back!!! $9k for one of the best brownstones in Harlem is a much better deal than a rather tiny 3 Bd at either $9.5k

it rented in less than 2 months, that's why i would normally expect when the price is right. is that reasonable though? it's just my gut feeling.

http://streeteasy.com/nyc/rental/1071663-rental-181-lenox-avenue-central-harlem-new-york

sorry, meant "i take that back!!! $9k for one of the best brownstones in Harlem is a much better deal than a rather tiny 3 Bd at either $9.5k or $13.8k"

West81st: Looks like it was priced off the other penthouse, which the same broker leased for substantially more. The other apartment has a better balance of indoor and outdoor space, and superior views. This one is all about the big terrace. The ask doesn't seem crazy in relation to the comp, although it is pretty steep.
=========================

Just yesterday, a day after West81st posted this, the neighbor listed it again. this looks like fun! we'll see if that comp from last year was an unusual lucky find. the neighbor might get lucky again:

http://streeteasy.com/nyc/rental/1122253-condo-310-west-97th-street-upper-west-side-new-york

Yeah notadmin, IF I had $9k to spend on rent, as much I don't like townhouse living (having rented one near that place before), that huge Harlem one is a better deal really than any of the other harlem ones. two two large harlem doorman penthouses are asking 67% more for less space.

But one of the 15k penthouse DID rent, so there are people willing to pay that much for Harlem.

So the mkt is set by the village idiot. The $100k/yr banker trying to keep up with $3mm/yr mistress.

> the village idiot.

Haha, Jason the Retard.

> So the mkt is set by the village idiot. The $100k/yr banker trying to keep up with $3mm/yr mistress.

w67, your contributions to this blog are invaluable