my favorite rental price chops, plz contribute yours
Started by leom
almost 17 years ago
Posts: 206
Member since: Aug 2007
Discussion about
Have been looking for a 2bd 2bth family size rental for awhile. According to my recent record of the listing on SE, 25% off is becoming the new standard (without taking into account owner's paying broker's fee, which is already standard). Check out: Prime UES: 50 E 72nd (btwn Madision & Park) 2bd 2bth, 7 950 -> 6 000 Prime UWS: 137 w 81st (one block from Museum of Natural History) 1 800 sf... [more]
Have been looking for a 2bd 2bth family size rental for awhile. According to my recent record of the listing on SE, 25% off is becoming the new standard (without taking into account owner's paying broker's fee, which is already standard). Check out:
Prime UES: 50 E 72nd (btwn Madision & Park) 2bd 2bth, 7 950 -> 6 000
Prime UWS: 137 w 81st (one block from Museum of Natural History) 1 800 sf duplex, 6 500-> 4 900 (still no one bit, taken off the market, rebounced at $5 500: pity on the potential renter who accepted this whithout checking price history)
Midtown: > 1200 sf 2bd 2.5 bth, 6200->4400
SOHO: 1500 sf loft w. 18 ft ceiling 6 500-> 5400, no fee
...
No surprise that our favorite turns out to be in the hardest hit FiDi:
20 Pine (Armani), 2 000 sf 3bd 3 bth, 13 900 -> 8000 (almost HALF price!) + no fee!!!
Just amazing…
[less]
leom, thanks for these examples! This is proof that NYC is declining rapidly. I've always thought 101 Warren was an overrated building in a mediocre neighborhood. Tribeca is not as nice as people say it is. Chicago nabes like gold coast and lincoln park are much nicer and have more to offer than tribeca.
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Response by beatyerputz
almost 17 years ago
Posts: 330
Member since: Aug 2008
cue alanhart
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Response by aboutready
almost 17 years ago
Posts: 16354
Member since: Oct 2007
rufus, you're even duller than the city you love so much.
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Response by rufus
almost 17 years ago
Posts: 1095
Member since: Jul 2008
aboutready, numbers don't lie.
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Response by leom
almost 17 years ago
Posts: 206
Member since: Aug 2007
Hey guys, no more digression from the point, plz. I wanted to start a constructive topic that might be of use for the folks who are looking for rentals as I'm doing. Rufus, aboutready & other senior members on this forum, plz show us the buildings & listings that you think were overrated/priced and now are chopping prices to a more realistic level.
However collapsed is the economy, there are hundreds if not thousands of folks that need to move at any time. We could also give a bit of leverage to the current tenants when it comes to regotiating or renewal of their lease. Let's contribute to building an informed renters community out of SE rather than a comedy factory... :)
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Response by rufus
almost 17 years ago
Posts: 1095
Member since: Jul 2008
leom, what buildings have you looked at so far? Are you looking at just condo rentals or also pure rentals as well? What's your budget?
I work in Midtown East. Looked into Rose Associates, Glenwood, Brodsky & malcrow's buildings in Turtle Bay, Sutton Place & Murray Hills. All no fee. Everyone is offering one month free/OP. But the buildings are old & boring. (Slight preference for Metropolis managed by Rose, but they have only one line of 2bd 2bth, which is barely 1 000 sf). I've seen more timid price drops and think the big managements should be more resilient than individual landlords. Under such circumstances, it makes sense to take advantage of some desperate condo owners, especially many of them are paying broker's fee, doesn't it? Came across some relative deals and would like to share with the other reserchers.
Ideal would be $4-5k for 1500 sf (at least 1200). Could consider really good places in other family friendly nabes w. easy commute to Midtown East. No rush for moving as the market seems to continue downward. But do you think it will rebound in 2009?
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Response by rufus
almost 17 years ago
Posts: 1095
Member since: Jul 2008
leom, I agree tht those buildings are old, dull, and all look the same. I personally think the market will go down even more next year, before rebounding in 2010.
Do you have to live in the midtown east area? Have you looked at chelsea? Take a look at the centro, caroline, landmark, vanguard, or the new condo, stratus. Rent has gone down a lot in all those buildings.
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Response by ccdevi
almost 17 years ago
Posts: 861
Member since: Apr 2007
you have favorite rental price chops?
I suggest video games. or needlepoint.
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Response by nyc10022
almost 17 years ago
Posts: 9868
Member since: Aug 2008
look at everything at 20 pine. You're talking 30-40% price cuts across the board...
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Response by StopAndStare
almost 17 years ago
Posts: 4
Member since: Dec 2008
Oculus chop chop chopping
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Response by newbuyer99
almost 17 years ago
Posts: 1231
Member since: Jul 2008
leom, we had somewhat similar criteria, and 1200SF for under $5K is very realistic. 1500SF is bigger than anything we've seen, with a possible exception of some Glenwood apartments, which are huge and generally nice, but we didn't love the locations. Saw some stuff on UWS too, but all with warts of one kind or another. We insisted on some sort of outdoor space, though, so if you don't, there might be more options.
If you work in midtown and want to be really close, take a look at 212 East 47th, and 240 East 47th. I think the $6800 3-bedroom at 212 east 47th is very negotiable. I was also shown an identical 18th floor unit for $5950, also very negotiable (can't find the listing anywhere, but you may be able to find it).
Finally, take a look at 309 East 49th - at least two candidates there. Both pretty negotiable, from what I can tell.
From $8250 to $6,000, and it's still sitting. We saw this one, beautiful apartment, great building, the precise location was a bit awkward, but still great generally. Didn't work for us because there is no good way to make a 3rd bedroom, and I do think it's still overpriced compared to what else is out there - you can get something pretty close for $5K or less, and I don't think the incremental upgrade in finishes and building amenities is worth $1000.
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Response by packrat
almost 17 years ago
Posts: 1
Member since: Jan 2009
look at carlyle construction - like glenwood but big apartments close to midtown
how much do you think one should ultimately pay for these (with broker fees)?
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Response by polydoa
over 16 years ago
Posts: 152
Member since: Feb 2009
I have a sneaking suspicion that those "1 bedrooms" listed for $2800 at chelsea landmark are really alcove studios... They have a lot of those in that building.
On their own website, rosenyc.com, the cheapest true 1-bedroom goes for $3495, and studios are not listed as available, so I don't know what the streeteasy listing means. I also don't know if concessions like 1-3 months free are already calculated in that price.
Of the rental buildings on the 6th avenue "canyon" between 23rd and 28th, the landmark is definitely the nicest though.
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Response by trinityparent
over 16 years ago
Posts: 199
Member since: Feb 2009
what about brooklyn - 1200 sf in Williamsburg? with terrace, while we're asking?
UWSmom - I went to see this apartment... and I don't even know where to start. Oh, yes I do: this apartment is on the 8th floor and the only elevator in the building is going to be replaced, leaving you with an 8 FLOOR WALK-UP for 2 months. Also, the apartment is not in good shape and there is a huge hole in the kitchen where a dishwasher used to be. According to the broker, the apartment is being rented "as is". Craziness.
"There are 4 bedrooms and 4.5 baths. A true find!!!"
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Response by ny3654
over 16 years ago
Posts: 33
Member since: Mar 2009
Look at Rivergate at 401 east 34 street.
No fee apartments and great building. My friend just rented 2 bdr, 2 bths + dinig room (12 x 12) with windows for $4500
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Representative of another "fancy" building in a "desirable" nabe:
Tribeca: 101 warren, >1200sf 2bd 2bth 10 000->6 500 (35% off)
http://www.streeteasy.com/nyc/rental/399167-condo-101-warren-street-tribeca-new-york
leom, thanks for these examples! This is proof that NYC is declining rapidly. I've always thought 101 Warren was an overrated building in a mediocre neighborhood. Tribeca is not as nice as people say it is. Chicago nabes like gold coast and lincoln park are much nicer and have more to offer than tribeca.
cue alanhart
rufus, you're even duller than the city you love so much.
aboutready, numbers don't lie.
Hey guys, no more digression from the point, plz. I wanted to start a constructive topic that might be of use for the folks who are looking for rentals as I'm doing. Rufus, aboutready & other senior members on this forum, plz show us the buildings & listings that you think were overrated/priced and now are chopping prices to a more realistic level.
However collapsed is the economy, there are hundreds if not thousands of folks that need to move at any time. We could also give a bit of leverage to the current tenants when it comes to regotiating or renewal of their lease. Let's contribute to building an informed renters community out of SE rather than a comedy factory... :)
leom, what buildings have you looked at so far? Are you looking at just condo rentals or also pure rentals as well? What's your budget?
this is a decent chop
http://www.streeteasy.com/nyc/rental/410849-condo-127-west-82nd-street-upper-west-side-new-york
I work in Midtown East. Looked into Rose Associates, Glenwood, Brodsky & malcrow's buildings in Turtle Bay, Sutton Place & Murray Hills. All no fee. Everyone is offering one month free/OP. But the buildings are old & boring. (Slight preference for Metropolis managed by Rose, but they have only one line of 2bd 2bth, which is barely 1 000 sf). I've seen more timid price drops and think the big managements should be more resilient than individual landlords. Under such circumstances, it makes sense to take advantage of some desperate condo owners, especially many of them are paying broker's fee, doesn't it? Came across some relative deals and would like to share with the other reserchers.
Ideal would be $4-5k for 1500 sf (at least 1200). Could consider really good places in other family friendly nabes w. easy commute to Midtown East. No rush for moving as the market seems to continue downward. But do you think it will rebound in 2009?
leom, I agree tht those buildings are old, dull, and all look the same. I personally think the market will go down even more next year, before rebounding in 2010.
Do you have to live in the midtown east area? Have you looked at chelsea? Take a look at the centro, caroline, landmark, vanguard, or the new condo, stratus. Rent has gone down a lot in all those buildings.
you have favorite rental price chops?
I suggest video games. or needlepoint.
look at everything at 20 pine. You're talking 30-40% price cuts across the board...
Oculus chop chop chopping
leom, we had somewhat similar criteria, and 1200SF for under $5K is very realistic. 1500SF is bigger than anything we've seen, with a possible exception of some Glenwood apartments, which are huge and generally nice, but we didn't love the locations. Saw some stuff on UWS too, but all with warts of one kind or another. We insisted on some sort of outdoor space, though, so if you don't, there might be more options.
If you work in midtown and want to be really close, take a look at 212 East 47th, and 240 East 47th. I think the $6800 3-bedroom at 212 east 47th is very negotiable. I was also shown an identical 18th floor unit for $5950, also very negotiable (can't find the listing anywhere, but you may be able to find it).
Finally, take a look at 309 East 49th - at least two candidates there. Both pretty negotiable, from what I can tell.
http://www.streeteasy.com/nyc/rental/427335-condo-161-west-61st-street-lincoln-square-new-york
From $8250 to $6,000, and it's still sitting. We saw this one, beautiful apartment, great building, the precise location was a bit awkward, but still great generally. Didn't work for us because there is no good way to make a 3rd bedroom, and I do think it's still overpriced compared to what else is out there - you can get something pretty close for $5K or less, and I don't think the incremental upgrade in finishes and building amenities is worth $1000.
look at carlyle construction - like glenwood but big apartments close to midtown
chelsea landmark rentals:
1BR listed at $2800: http://www.streeteasy.com/nyc/rental/486168-rental-55-west-25th-street-chelsea-new-york
studio listed at $2000: http://www.streeteasy.com/nyc/rental/486163-rental-55-west-25th-street-chelsea-new-york
how much do you think one should ultimately pay for these (with broker fees)?
I have a sneaking suspicion that those "1 bedrooms" listed for $2800 at chelsea landmark are really alcove studios... They have a lot of those in that building.
On their own website, rosenyc.com, the cheapest true 1-bedroom goes for $3495, and studios are not listed as available, so I don't know what the streeteasy listing means. I also don't know if concessions like 1-3 months free are already calculated in that price.
Of the rental buildings on the 6th avenue "canyon" between 23rd and 28th, the landmark is definitely the nicest though.
what about brooklyn - 1200 sf in Williamsburg? with terrace, while we're asking?
Is this considered cheap now, at 6,500.00?
http://www.streeteasy.com/nyc/rental/375193-rental-111-west-67th-street-lincoln-square-new-york
UWSmom - I went to see this apartment... and I don't even know where to start. Oh, yes I do: this apartment is on the 8th floor and the only elevator in the building is going to be replaced, leaving you with an 8 FLOOR WALK-UP for 2 months. Also, the apartment is not in good shape and there is a huge hole in the kitchen where a dishwasher used to be. According to the broker, the apartment is being rented "as is". Craziness.
http://www.streeteasy.com/nyc/rental/134165-44-riverside-drive-upper-west-side-new-york
"There are 4 bedrooms and 4.5 baths. A true find!!!"
Look at Rivergate at 401 east 34 street.
No fee apartments and great building. My friend just rented 2 bdr, 2 bths + dinig room (12 x 12) with windows for $4500