Small studios - NEED HELP finding a Broker
Started by GuyWantsAStudio
over 10 years ago
Posts: 7
Member since: May 2012
Discussion about
I've been researching the market for a few years as a renter, really looking to buy a studio in manhattan at the lower end of market (since that's all I can afford). I obviously want a relatively clean, quiet, apartment in decent shape, in a good building. All relative terms, yes. I see all the listings almost daily. What I am looking for is kind of different in that while I"m ok with a studio and... [more]
I've been researching the market for a few years as a renter, really looking to buy a studio in manhattan at the lower end of market (since that's all I can afford). I obviously want a relatively clean, quiet, apartment in decent shape, in a good building. All relative terms, yes. I see all the listings almost daily. What I am looking for is kind of different in that while I"m ok with a studio and not an official one-bedroom, I am obsessed with the idea of finding a studio that has the right layout that would allow me to section off a sleeping area as a makeshift separate room - with access to one of the windows (or even half a window if there was a way to split a window in half). Can anyone give me tips on how to to find an agent/broker who handles these kinds of properties for buyers? I see all the listings but I assume there are brokers who know the ins-and-outs and maybe even know about things just as they are about to hit the market. I ask around but not coming up with much. I'll need a broker if I'm going to buy (and an attorney, which is another issue i have to tackle as well) but I don't know how to find someone I can trust, who knows the market. Any ideas? Thanks! Guy Who Wants A Studio [less]
Have you done advanced search on street easy to see all the studios available? If you have and nothing is coming up then you may want to go broker route. I have to say that broker quality really varies. I recommend highly thought of brokers to two friends and it ended up that they found the apt themselves through the streeteasy search I set up for them. In one instance, the broker was anything but an advocate for the buyer. If you go without a broker, then you could use the Burkhardt Group to do negotiating and paperwork and get a nice check from them at closing table. It would come in handy for your renovations. Good luck to you
Just keep in mind that brokers are not miracle workers. If you've done an exhaustive search of inventory in your price range and you're not finding anything, it's probably because nothing exists.
A broker may be able to help you if you've located a particular set of buildings that have the types of floor plans you want and tend to trade within your price range, but don't have inventory available right now.
I spent close to three years on the sidelines, so I understand your frustration. In the end, the market came down, my budget went up, and I had to be flexible on a couple of things. That's life in the lower (sub-$1mm) range of New York City real estate.
Use keyword 'alcove' when searching. Alcove studios generally have the layout you are seeking.