Is this broker serious?

no borkers are serious.... they are smokin crack.

sounds like it's more like the coop and not the broker.

Wow, that's $9,635.25 to move into a studio apartment, although some of that will be refunded. Plus a four to six week wait. On the plus side, the place is "rarely available".

These fees are not out of line for a "good building" -- many condos even have an app fee these days; it's a few hundred bucks to get into the Orion. I say kudos to the broker for putting all those disclosures up front so potential tenants know what they're getting into.

ali r.
{downtown broker}

The broker is asking for a full 15%, which is probably on the outrageous end of things, except that this broker has to earn his money because he's got to find a tenant willing to put up with all of the crap and who is qualified, help fill out the applications, etc.
But I agree with front_porch - might as well be upfront, because frankly not being upfront in this instance will end up being a waste of time.
But seriously, this building needs a renter at $1700 to "demonstrate financial solvency?"

The fees:
Applicant will be required to pay (in addition to first month's rent & security deposit): Brokers Fee (15% annual rent), $1,550.25 sublet fee, $450.00 Application Fee (non-refundable), $100.00 Building Application Fee (non-refundable), $75.00 Credit Report Fee (non-refundable), $500.00 Move-In Fee (refundable), $500.00 Move-Out Fee (refundable)

AND, the building could reject the 2nd year, in which case the 15% fee and the $625 other up front fees are completely against just 1 year rent. Unbelievable. And I'm not really saying the owner or the broker is unbelievable, but rather the co-op.

nybits.com

I looked at this studio when it was up for sale, not great...they have other studios selling for $330k. The board is very very strict. that's what I was told

the nybits.com apartment search function sucks.

Why?

have you tried it. do a 2BR search in Gramercy. none. I know there are mgt compnaies on that site with available 2Br's in Gramercy

They don't have all management companies, but they do identify management companies that they don't cover.

http://www.nybits.com/managers/residential_property_managers.html

Hope that helps.

Its not so much the co-op fees as the way the posting is written...especially in this day and age...

Steve owns 20% of nybits.

345 East 87th Street - The Mayflower - The total fees associated with renting a unit in this Co-op is over $11,000. Boards do this to frown on owners renting thier units. Have to love the power of C-op's, eh?