HELP...please settle a dispute

the studio is large (alcove) about 600sq

julia here's your chance to prove your naysayers wrong . . . post 3-5 examples of better deals that your friend would like.

julia - nybits.com is a very good resource to do your comparison. good luck.

Doorman UES studio in TREGNY Sep report was $2518. You could argue new leases may be going for lower because that figure is I think all apartments, incl. those on prior leases. But if this is a large studio, it offsets that. So $2500 sounds about right.

I think that's too high...it may be the average but you can always find something for less. I've seen listings in DM buildings for $2200.

but wait...Julia...last week you said you canceled your account. Back so soon?

that was cruel...i did cancel but couldn't stay away...the website is great. I don't like when it gets personal. I think everyone would feel the same way.

julia
5 days ago
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drg...I'm out of here...I just cancelled my account. There is nothing more to learn. Everyone is in attack mode. Maybe it's the economy but the great information I learned here ended months ago I just hung in there hoping that people would start discussing real estate. I had always enjoyed West81st's thread. The new people on here don't offer the information I need. Thanks to those who were helpful and to those who were cruel and unkind.....

Everyone that reads this site knows that Julia is synonymous with broker. You have no credibility here.

I am fine with brokers postings, specially if they are as interesting as urbandigs'. Stereotypical rants about now being the best time ever to buy is another story...

mimi...I expected more from you. Riv_Drive..go away. Mimi...plse answer my $2500 for a studio question. p.s. I'm not a broker but a small business owner...nothing to do with real estate otherwise I would know more about it and not need to go on websites.

Depends on the location. I'm currently renting out a DM building studio in the village for just over $2500. It doesn't sound like your friend's deal is 'way too high'--it's definitely within the strike zone, but as Riv says, she could probably get something a bit cheaper.

Julia,

You should show your friend this one:

http://corcoran.com/property/listing.aspx?Region=NYC&listingid=1374378

Better location than most on the UES.

julia, definitely depends on the location - the UES is quite a large area. Such a studio will run quite high if it's in the 70s around 5th, Park, or Madison, compared to one on 96th and 1st, for example.

Riv_Drive, not sure what your issue is with julia, but I see no evidence of her being a broker. In my experience, people who throw out the frequent attacks here are the ones with no credibility.

bjw..thank you...the bldg. is in Yorkville.

Julia, I wasn't referring to you, but to those cut&paste sales pitch-postings that some brokers post here. I wrote that against Riv-Drive's idea that if you are a broker you lose credibility here.

It's high for Yorkville.

Sounds high to me. But if she went around with a broker and saw a bunch of apartments, she should know better.

there wasn't a broker..it's a management firm that listed the apartment.

> I've seen listings in DM buildings for $2200.

Listings are not generally reality.

A friend just did an exhaustive upper east side search.

To get something clean and in decent shape (meaning things not broken and painted in the last 5 years), 2200 gets you a very small (like 450 sq foo) railroad one bedroom in a walkup. Maybe $2k if you are lucky. One building with an elevator and no doorman near the express stop lowered rent to $2k on a small one bedroom and had 9 applicants.

so then my friend is right....$2500 for a large (600sf) studio in a doorman bldg. on york avenue.

I have spent 2 weeks looking for 1 BR rental in UES. I think I have looked more than 15 places. I have a 1 BR in a really nice UES location with doorman/gym etc and am paying 3100. I am looking because i thought now that everyone says rent is going down, may be i can find similar place at a lower rent and also because my landlord raised the rent by 5% for next year. I found many 1BR in UES from 2300-2600 but they no where matched the location or quality of the place i have now. So, the lesson learned is that while rent may have gone down for some places, it is not true for every place.

Julia - that doesn't sound too far off to me, but York is really far east. I would think that should knock it down a little bit, especially if the building is nothing special as you say. However, if it really is 600sf, that is pretty large.

rents are going to go down, but I believe it will take about 2-3 more months before you really see it in some of the better(read closer to Central Park)nabes. Between the slower winter and holiday seasons and the job losses it will happen.

I did leave out that most of the apartments she saw were not THAT far east, and most were on blocks at or a couple off subways.

So, I might go down $200 or so to be out on York...

I also realized that I said one bedrooms. So, $2500 is not cheap, but its in range.

that's what I thought $2500 on york for a studio is high but my friend really needs a place quickly so she's signing. she sent me the floor plan and it say the space is 652 sf but it's still a studio. Thanks for everyone's input.

No broker, so I hope she isn't paying a fee. If she isn't paying the fee, that's like a 15% discount or $4500 saved, which is like $375 per month over a year. But next time, I recommend seeing a few apartments with CitiHabitats or someone else, just to get a sense of what's out there. You can still go with a no-fee apt if you find one.

Let me also defend Julia: I see no credible evidence she's a broker. She's dumber than a box of rocks, but she's no broker...

gee thanks Admiral...I hope your ship sinks

It's about market. You might want to check monthly rental reports. Can't remember the name of the authors but someone usually posts them on StreetEasy.

ubbatubba
about 7 hours ago
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I agree with ubbatubba. If your friend sleeps on the street for 3 months, she'll save $7500 in rent for the first 3 months and then about $3600 over the course of the lease. For that money, your friend could buy a used car in 15 months that is down 25% from today's price.

There are almost no decent rentals in good areas, period. Doomsayers, look into own your logic: fewer buyers equals more renters. Rents stayed flattish at best, went up as usual at worst. People have to live somewhere! You know that, don't you?

ralph24: I don't entirely disagree, but I make two caveats - 1) traffic of people looking to rent seems slower than usual even for this time of year, and 2) prices are coming down (especially free month's rent) for units that have drawbacks - they absolutely aren't moving.

So what I'm saying is that what's been flushed out of the market is that element of people so determined to live here that they'll accept any old unit in a good building. (And of course, not every unit is a plum, and those are the weak ones that'll see softening.) Now, whether that'll show up in general market statistics isn't clear to me. (Maybe in vacancy stats, but of course apartments that -> don't <- rent, won't show up until the price is cut enough that they do.)

... sorry for typo ... that last sentence was supposed to be:

(Maybe in vacancy stats, but of course apartments that -> don't <- rent won't show up until the price is cut enough that they actually do move.)

i give up...special characters problems

> People have to live somewhere! You know that, don't you?

What if there are less people because there are less jobs?

"What if there are less people because there are less jobs?"

True, but I haven't read anywhere that there is any kind of significant exodus from NYC. If anything, I'd guess the city's population is increasing, though perhaps at a somewhat slower rate than in recent years.

""What if there are less people because there are less jobs?""

Fewer. Not less.

My thought was that studio apartments would go down in price, at least lower than $2500 because of the financial mess but my friend tried to negotiate with the management company and they wouldn't budge nor would they budge on the move-in date. She wanted 11/15 and they said 11/1.