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Looking for 3BR rental in UES/MidTwnE/Gramercy -- best bldg for distressed rentals?

Started by Derek
almost 17 years ago
Posts: 30
Member since: Nov 2007
Discussion about
From the papers, we all know the distressed buildings with a lot of sales listings and/or cross-listed rentals: 20 Pine in FiDi, the Sheffield in Midtown West, 100 Riverside on the Westside, etc. My wife and I are looking for a large 3Br/2Ba to rent somewhere on the East side, with a good public school (i.e., PS6, PS183, PS116, PS40, PS59, PS290, PS158, etc.) We're indifferent beyond that. Could people list various new developments where we're likely to find distressed owners looking to rent out their unit, or alternatively, developers/sponsors looking to rent in the absense of condo sales. Budget up to $9k/month, square footage must be for a "real" 3Br, ie 1500-2000 sq. ft. Thanks in advance.
Response by aboutready
almost 17 years ago
Posts: 16354
Member since: Oct 2007

The only three examples I can think of for buildings that are already completed are the SkyHouse (convertible 3, but you're left with dining and living areas, PS 116), Gramercy Starck (PS 40) and the Charleston (should be PS 116, but I don't know for a fact). The first two are challenged in the bedroom department (particularly Starck, and you have to see that stupid lobby portrait every day). The Charleston doesn't have any current three bedroom rental listings, but the layouts were much better. Some other developments may need to rent, Mirival Living may take units back to rental, Laurel may need to rent. A number of buildings have rentals that are higher than your budget, but it doesn't hurt to look in case someone is desperate (ie, the Veneto and the Cielo).

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Response by AgentRachel PRO
almost 17 years ago
Posts: 275
Member since: Nov 2008

are u willing to pay a brokers fee?

if so, there are several

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Response by patient09
almost 17 years ago
Posts: 1571
Member since: Nov 2008

AgentRachel: Be a hero, find Derek a great apt that fits his needs in a fee based building. Then YOU go negotiate like the great broker you are and get that fee paid by the owner. We all know that cust paying a fee is so "august". You do this and the entire SE audience will call you "star broker of the week". Now go to work!

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Response by AgentRachel PRO
almost 17 years ago
Posts: 275
Member since: Nov 2008

I can't patient. Even if I waived my fee, I gotta split with the other broker AND my brokerage. Not too many bldgs have caught on to paying the fee. Maybe 1 in 20 at best...

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Response by patient09
almost 17 years ago
Posts: 1571
Member since: Nov 2008

be a hero, be robinhood

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Response by Derek
almost 17 years ago
Posts: 30
Member since: Nov 2007

Im not averse to paying a fee, but at this price point, the maximum fee I will pay is 1 month rent. Rental brokers should be lining up in droves for this fee.

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Response by AgentRachel PRO
almost 17 years ago
Posts: 275
Member since: Nov 2008

lol. patient, I will do what I can. Derek, I can probably find something good with a 1 month. Will send you some listings. Want me to send here or another address?
R

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Response by Derek
almost 17 years ago
Posts: 30
Member since: Nov 2007

Thanks but we're not looking to move imminently (end of May). At this point, I just need data points, which I've been filling with periodic open houses. I'm thinking of going month-to-month with our existing landlord, until fall or winter, when the market should be even weaker. Our macro view is that the NYC economy is going to get REALLY bad in 2009, so it feels like time is on our side.

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Response by AgentRachel PRO
almost 17 years ago
Posts: 275
Member since: Nov 2008

found a few good deals in our secret broker database :)

u will be fine. feel free to email me at rglazer@bhsusa.com

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Response by Daniel_Citi
almost 17 years ago
Posts: 2
Member since: Mar 2009

If you're looking to start a month or 2 early for a great deal, I know of just the thing.
It's currently a 4 bedroom (could remove a wall to have a bigger living room, or dining room), in a doorman building in Turtle Bay (children can go to PS 59). Listed at $6400 and would be no fee. dhayblum@citi-habitats.com if you're interested.

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