20 Pine Rentals

Didn't look there myself, but have an acquaintance that just moved into that building. I assume they are competing with the rest of the buildings down here; when I was looking, everything was negotiable. Not unreasonably negotiable, but up for discussion.

Many owners in that building purchased with the intention of flipping or renting out, not to actually live there. These people signed contracts in 2006 and 2007 when the market was still hot and looking like it would continue rising. Now that the market has turned south, there is heightened competition among all those owners to get their units filled with tenants. From the owner's perspective, not only has their initial investment declined in value anywhere from 10-25%, they are also paying the monthly common charges those empty apartments, so you can imaging how eager they are to get any amount of income.

Tons of deals to be had here. Asking declined 25-30% over the last 6 months or so (tons of price drops listed in streeteasy) and some serious negotiating to be done.

so its worth a look?

I think you're talking some supercheap rental deals. Building is decent, amenities sound pretty good (not finished when I visited), and I like the apartments. Layouts can be a bit long, but they're big spaces with great bathrooms and appliances.

In terms of buying, I might be a little scared... the financials do not look good.

But, that might get you a cheap price.

So, worth visiting, I think.

Instead of commuting to LI for xmas parties, I rented a few days at the Pine, I really liked the space, and would rent there, only negative was walking up to the opening on a rainy snowy day but I assume it will have a different front door in the future, the space was really large and kitchen and bathroom very nice, the doorman and people working there friendly.

Rent yes, buy no--financials on that building are mighty frightening

I just rented a 3BR in 20 Pine. We love it, the deal was incredible and everything about the building is top quality. I believe as iMom stated, only owners are renting, I don't think the developer is renting units, at least yet. I just got a look at the facilities (gym, pool, etc.) and they look pretty near complete, which is great because when I rented I didn't expect them to be ready until the fall. The building super has been very responsive in fixing things, like the dishwasher, lights, and heater, all of which we had problems with when we first moved in. The front desk attendants and building management are incredibly service oriented.

There are a couple of negatives, here they are, in my opinion:
1) the kitchens are tiny - a friend of mine came to visit and looked at the kitchen and said what is that, the wet bar? And she was serious.
2) The storage areas aren't ready yet, which means our bikes are stuck in an extra bathroom
3) the drainage is weak in the sinks and the toilets. There's probably a NYC regulation about 3" waste pipes and it definitely needs 4". This means I can only eat one hamburger for dinner instead of two, or there's trouble later!
4) the application process was expensive ($600). However, they didn't check any of my references, bank accounts, employments, etc., so in the end a waste of time. I wouldn't worry about what you write down, they won't check it.

I have two suggestions for people considering 20 Pine:

1) my unit didn't come with blinds and I wasn't smart enough to include them in the lease. Make sure you do. Still only $400 to fit them all. Home Depot rules.
2) owners had an option of fitting glass shower doors for $1,700. Mine didn't and now I have cheesey shower curtains. You'd think for the price these people were paying they would have sprung for the damn shower doors. Make sure you get them.
3) Floors 25 and above are "concierge level" units, which gets you free morning breakfast (and it's pretty good) and the use of a concierge service. I'm testing the concierge service now vs. American Express' service for a vacation, they seem about the same. There doesn't seem to be much price distinguishing between the upper and lower floors, so if you can, get a unit on 25 or higher.

I signed a one year lease because the landlord wouldn't go for 2 years at the current price. He's thinking rents are going up next year.
I'm betting the opposite, but I've got to be prepared to move if it doesn't work out.

I'm a believer in renting in this environment and don't understand what would motivate people to buy, but I assure you, plenty of people are coming through to look at units and they're mostly Europeans. I'm not a believer that Europeans are going to be the big saviours of this or any other building, but there sure are alot of them looking here. Hopefully that just means more rental supply for me to evaluate next year!

So goldie, how much are you paying for rent - and what is the square footage? I need at least a 2BR but don't want to pay
more than 3500 - any ideas for other buildings in Tribeca?

uhhhh look on streeateasy. 20 pine ias WAY more than you want to pay. AND its NOT in "Tribecca." You will NOT find any doorman true 2 bedrooms in Tribecca (at least above the WTC) anytime soon, if ever. IF you mean the FiDi or BPC, there are plenty...which you can EASILY find...on Streeteasy.

Backtonyc: I think $3,500 for a true 2BR in 20 Pine is still at least a few months away. Probably the low/mid $4k's is where they are now. Don't know about Tribeca, but when I was looking in Fidi, low/mid $4k's for a 2BR was the market, Glenwood at 10 Liberty, Dwell at 95 Wall, 2 Gold. 20 Pine is a cut above these and all the stuff on John street. 55 Wall was as nice as 20 Pine, but they only rent furnished. I didn't see 75 Wall or William Beaver. Prices aren't at your level yet, but I bet they eventually will be. I'm in an 1,800+ sqft 3 BR, and the rent is more than $6.5k.

The other good thing about 20 Pine is that I don't think there's an electric bill, at least I haven't had one, which seems to be a nice surprise. Hopefully, it's in the owners' maintenance charges.

20 Pine is cheezy anyway--douchebag central

thanks goldie -
any other suggestion on where i should look? need a good elem. school for my 1st grader and my other child will be at Little Red. We are open...

There are DEFINITELY 2 bedrooms for under $3500 in FiDi and BPC. Why don't LOOK ON STREETEASY.COM!?!?!?!?!? Are you lilliterate? They have an apartment search function, and they list many apartments below chambers at your price range.

Streeteasy isn't great for finding rentals. Try NyBits.com and individual management company sites.

It is funny how they sell BATTERY PARK CITY as Tribeca now.

IMHO, if you're below chambers, don't even try it...

backtonyc: $3,500 for a 2BR isn't going to get you the luxury buildings, yet I don't think. I think one of your best bets is 2 Gold, then I'd try everything on John Street. Also, try 10 Hanover Square, they may be in your range, and it's a pretty nice building. These are probably in the high 3's right now, but they may have a low floor unit in your price range. You don't need a broker, most of those buildings have management companies onsite. The Streeteasy listings are just brokers trying to drum up business, they don't own the listings for these buildings and the pictures aren't even from the buildings they're advertizing.

thanks Goldie - constructive advice unlike jason
we are moving form the Berkshires so it is a bit challenging from afar - despite having lived most of my adult life in nyc.
will check out gold - my husband has looked at 3 Glenwood buildings - a bit pricey at the moment, maybe that will change- anyone have opinions on them?\

Not true, there are doorman buildings listed right now ON STREETEASY for $3500 below Chambers that are true 2 bedrooms. And on NY bits.

"Rentals in Battery Park City, Chinatown, Financial District, Fulton/Seaport or Tribeca
We found 49 listings for between $3,000.00 and $4,000.00 with at least 2 bedrooms with at least 2 bathrooms

Median price: $3,685 Median size: 1,117 ft² Median price per ft²: $39"

http://www.streeteasy.com/nyc/rentals/nyc/no_fee%3A0%7Cprice%3A3000-4000%7Carea%3A112%2C110%2C104%2C114%2C105%7Cbeds%3E%3D2%7Cbaths%3E%3D2

There are 49 for you to go check out. 9 say no fee. See if you can read that.

backtonyc: After 2-1/2 years, we just moved out of 10 Liberty, a Glenwood building. We loved everything about the building, but they tried to initially raise the rent when it came due. When we got into serious negotiation, they would only agree to no increase. That was just a bridge too far for us. However, they are offering new renters better deals, but you won't get a 2BR for $3,500 there. You could get a 1BR + den for that price. Everything about Glenwood is first class, from their people to their service, I would highly recommend. They are great to deal with.

Jason, rather than just posting a Streeteasy search that any monkey could do, you need to understand which of Streeteasy's listings are just brokers posting non-existing units versus real available rental units. In the Fidi area, almost everything listed for 2BR for under $3,500 is a non-existing unit.

Jason about 80% of your posts contain emphatic language either in words OR CAPS insinuating that the other person is an idiot. But you inappropriately use such emphasis in situations where it is in polite society considered a debatable point so you don't need to call the person an idiot. Even in this example, you may well be right but I have read on SE about a zillion warnings that low rental rates on the internet are bogus, so maybe those disagreeing with you are not...INSERT CAPS.

To be fair, your point of view in this thread is probably more justified than your ultra-emphatic posts about Harlem, but the tone is similar.

i agree - it is hard enough finding an affordable home - especially from afar..i can and have done many searches on streeteasy - nybits as well, i am not illiterate (spelled correctly I might add) but when I last lived and had my studio on Harrison street, the World Trade Towers were there, and anything below them, was not considered Tribeca ....and there are what, like at least 20 more buildings??? so civility and helpful comments much appreciated. Would actually like to live north of Chambers if possible and knowing which buildings exist is hard to do fromt he internet - although Google Earth is amazing, and when I am in town on Friday I shall pound the pavement....so to speak.
thanks for the help goldie...

I am in fact currently looking, and have found most of the streeteasy posts, such as in the link above, to be real and specific units. Its easy to spot which is which before hand. I have in fact seen and walked around 2/2s for $3500, many of which are in the above post.

I will go further and say that [GASP] the units for rent BY OWNER on Craiglist for downtown include real and available units in this price range in FiDi and BPC. Gateway plaza has many, brokdsky some more, just to name two. The reason I am dismissive in my posts is because you are dismissive of the actually genually factual information I posted.

Not surprisingly, there is significant overlap between the streeteasy postings I linked to above and nybits, which list 17 no fee units which are 100% for sure for real in the area for 3-4k.

http://www.nybits.com/search/?_a%21process=y&_rid_=2&_ust_todo_=65733&_xid_=v_VA2FpUpPavEU-1239213437&%21%21atypes=2br&%21%21atypes=3more&%21%21rmin=3000&%21%21rmax=4000&%21%21orderby=neighborhood&%21%21nsearch=battery_park_city&%21%21nsearch=chinatown&%21%21nsearch=financial_district&%21%21nsearch=tribeca&submit=+SHOW+RENTAL+APARTMENTS+

Goldie, any further updates on 20 Pine. Still like it there? Did you have a chance to see the gym and other amenities? And you mentioned something about a bike storage - do they offer that? And have you been able to adapt to the tiny kitchen, or is it a continuing issue?

I'm interested in renting a unit there, so would really appreciate some more first-hand info.

Thanks!

Nypaloto- i know both buildings well... would you like some info

bubbles - yes, please. But keep in mind that I'm quite familiar with the buildings as well, from a potential renter's perspective. I've been there several times, seen several units. So I'd be more interested in hearing from actual renters. Thanks.

moved into 20 pine 3 weeks ago. the service and staff are excellent and even though the kitches are set up like a "pullman" kietchen, they are functional and beautiful to look at since the lighting and design are quite handsome. i would say if you have chic taste, this is the place to be.

MIKEL5212 - thanks. I do love the interior and the, say, understated minimalism. Would fit nicely to our furniture! Did you already have a chance to check out the gym? And, I know it's a minor issue, but is there a bike storage?

Cheers.

I looked at 20 Pine this week - with a few different brokers since all the rentals are condos. I found that the brokers do not seem very hungry to rent these - I was rushed through the apartments, never really responded to, no one follows up...it was bizarre. And the lobby and hallways of 20 Pine were approximately 102 degrees. Like they weren't turning the air on? (the day it was 90 degrees this week).

Anyway, I also emailed a few individual owners and brokers and put in bids 15-20% below the asking price and got turned down each time. So no 2 BRs for 3500, that's for sure...because that was my budget. You could get a beautiful alcove studio or a small one bedroom for that amount - I do agree - the finishes are gorgeous and I would have LOVED to find a two bedroom there in my budget. And I am funny about kitchens - we both cook a lot....and I actually thought the kitchen was doable.

They have TONS of rentals but no one seems hungry yet. I guess people are still holding out for the analyst classes to come pouring in this summer. :)

Yes, I think we're not quite at 2BR for $3,500 yet for that kind of building and neighborhood. Not sure if it'll go down that far, but guess no one really knows. I'd agree, however, that the sell-side is still in denial, as if they believe things have started to improve. Again, maybe they're right, but considering that we're heading into the slow summer, I'm surprised as well about the seemingly nonchalance of the brokers. I thought though, that they seemed to know their units are priced too high anyway, so why bother?

atl2009fidi - how can you find the individual owners? Would love to contact them directly as well...!

hi nypaloto- i havnt seen the gym or pool area yet, but they are supposed to be completed by june. i know they are 75% done from an owner. they have storage, but the owner has to have purchased the space in order to use it. you can probably swing a deal somehow. there are many great things about the building, and a few drawbacks, but i think these will be corrected. overall i am feeling good about the decision to move in...........

I've been down to 20 Pine several times with different brokers in the last few days. It's a very, very strange experience. To call the atmosphere schizophrenic would be understating it. The place reeks of desperation. Sitting in the lobby for approximately ten minutes waiting for my broker, I was approached three separate times by people giving me their cards (quite shadily I might add), and as I left, the doorman (who was a great guy, and gave me some insight into the building) also handed me a card of another realtor he suggested. When you have the doorman selling your building, you've got serious problems.

The place is quite obviously in trouble, clearly apparent in the midst of dusty construction (going on what, three years now?) and owners are having problems renting out their units. It seems the building (at least the units that have been sold) have been mostly purchased by spec buyers who are now feeling the pain of losing half the value of their investment, but have no intention of living in the building. Three units I saw had been sitting on the market for over nine months, and had their prices dropped sometimes from 4500 to whatever the potential renter saw fit (as low as 2300 in one case). Prices are all over the place, and are highly negotiable, as are fees, and I made clear to all the brokers, including Elliman, Corcoran, etc., that I would not pay a fee, since that is the standard in FiDi right now, which they've all come to expect. Some owners are still obviously in denial, and have units priced far too high. One unit I saw on a lower floor with no view, a bad layout, smaller bathroom, and no closet space was asking the same price as a unit on the concierge floors with 300 more sft, giant closets, huge bathroom, and amazing view of the Stock Exchange. I low-ball offered the lower floored unit just to see what I could get back in response.

Gym and all other amenities have NOT been finished. I received several different responses about when they would be finished, one saying next week, one saying not til the end of the summer. So, yeah, three months difference. This gives you an idea of how the building is being handled and managed. The common terrace on the 25th floor IS finished (the one in all the pictures and advertising), but is extremely small, and when I visited it with a broker, it had at least four toddlers running around, one screaming and crying hysterically with frantic au pair in tow. It was a turn off, to say the very least. My broker sort of rolled his eyes, and we quickly exited.

All of that being said, the apartments that are well positioned in the building and well priced are a potentially good deal. I emphasize potentially. Some of the space being offered, combined with the (potential) amenities, and the builds in the apartment like the bathrooms (which I really liked, shower is fantastic in larger units, bath deep), and the kitchens (a European aesthetic which I personally love), all come together to what could be a steal for someone looking to rent into a "luxury" building. Frankly, "luxury" is where we run into the problem, because it all just feels a little bit too much like partying while Rome is burning in FiDi right now, and the feel of that is clearly leading to all the buildings down there having serious problems landing tenants. Lots of anxious faces wandering around the lobby, the hallways, and the streets. But, if you are interested in branded buildings, and pre-created spaces like this one, you might want to take a look.

There still definitely needs to be some major readjustment in pricing, since it's all across the board with no yardstick guiding anyone, which could lead you to a deal, or a disaster. The building is easily half empty, and it doesn't look like Shvo (who has to be the laughingstock of the industry right now) or any other broker will be able to fix this problem for at least a couple of years. Really quite amazing to see such a quick and serious downfall like this in New York. The simple fact of the matter is that the tenants that this building wishes to market to quite literally no longer exist. They, along with their fake money have evaporated from the lower parts of Manhattan. The loss of Lehmann, Bear Stearns, and all the firings and layoffs in the financial markets of New York show no signs of abating, and this, while being very bad news for the buildings and owners who expected to make a quick buck, will make it better for the real Manhattan to find a place to live.

I think the best (cheap) rental buildings downtown (on a price per foot basis) are - 45 Wall (but only for singles and young families - if you're in your 40s stay away) - 1 West St (The Ocean) - 99 john may be worth a look again too -

20 Pine makes me nervous - way too many flippers there who paid $1,150 ft on average. Now the units are worth about $800/ft. I think many will walk away. I think they will rent to you, take your money, but not use it to pay the bank. Then the bank will foreclose and evict you.

I think the product is nice (although it's very very very clear that they lie about the square footage). I'm told they took the hall and amenity space and then added it to each unit on a prorata basis.
20 Pine may become the poster child for defaulting sponsors and defaulting condo owners screwing over other owners who are solvent and responsible.

The strange thing about FiDi is that I don't think the target audience for these apartments EVER existed. Most of the super-yuppie IBankers that were evaporated over the past six months worked midtown and wouldn't have been caught dead living in FiDi.
This was always a case of "build it and they will come"
Only I'm not sure they would have come even if Bear and Lehman were still with us.....

I've been working with this building for two weeks now on trying to obtain a rental, and all I can say is "wow."

What. A. Mess.

The fact that anything gets rented or sold at all in this building seems a miracle to me, considering the plethora of dimwits I've had to deal with across the board.

The owners of apartments I've dealt with are completely out of touch with the market, everyone I dealt with was from abroad, and units are sitting around untouched for months at a time because the brokers are incapable of marketing them in any way shape or form.

To give one small example of what I've been through over the past two weeks, an apartment that I was interested in was basically sitting in application for weeks because an owner had been told by a broker that a shady tenant with terrible credit was going to pay years of rent up front. Of course, this money never materialized, and the apartment continues to sit on the market after over a year of price drops. I won't touch an apartment from an owner that would even consider such an offer in the first place. They obviously have no idea how to rent or who to rent to or what they are doing, and they are getting terrible advice from brokers.

This gives you a tiny sense of what is going on there. Considering that the "condo board" would even consider such an application is beyond me, although they charge two thousand dollars in application fees on vetting which they clearly don't use, because no "luxury" building would accept a tenant that would supply such information.

I'm not even sure the owners of these apartments can afford them, and I would be very nervous that there would be a wave of foreclosures resulting in rental tenant evictions. After witnessing what I've gone through over the past few weeks there, I've decided to stay away from this building, despite its amenities and the apartment builds, which are nice. No space is worth going through the ridiculous trauma this building inflicts upon potential tenants and buyers. I wouldn't touch this building with a ten foot pole for at least a year.

Simply put, the financials for this building are bad, bad, bad, and the reputation (which I witnessed firsthand) that the building has no idea what it is doing is absolutely true.

Good luck to them.

What would be a reasonable market rent price for 2 full bedrm & 2 bathrm at 20 Pine? Could someone please comment?

hhl8, apprently you have not been reading the above posts.

stay away.

So should I buy in 20 Pine?

uomoprimo, that was my impression w/ the PURCHASE, not rentail, of the bldg. last year. Completely chaotic, and no one really knew what s/he was talking about--often blaming the sponsor or the reseller. Of course, the deal breaker for me was the slow sales/bad financials...but that wouldn't affect the renters, I'd imagine. It's a good rental bldg. w/ good amenities and great location.

No, it could be a disasster for rentals, if lots of foriegn investor/owners forclose and what not, not to mention the clucster-f*ck the building itself is going through.

Unlikely. Foreign investors at 20 Pine, from what I understand, are usually cash buyers. They may flood the resale market in the bldg. to drive the prices low and/or they may go delinquent on CCs, but that won't make a condo go belly up. Even if they did, I still don't see how that spells disaster for renters.

In any case, you should focus instead on domestic buyers and "bulk investors" for those potential problems at 20 Pine.

nyc 212 or anyone else, what would be a reasonable market rent price for 2 full bedrm & 2 bathrm at 20 Pine? I am looking for actual numbers rather than a comment about avoiding/staying away from this building. Thanks.

Reasonable market for 2 br there would be 3000. With terrace, maybe 3500.

But it's not there yet.

More large units and dropping prices showing up. The downward trend at 20 Pine continues unabated.

uomoprimo - you obvoiusly have an ax to grind with 20 Pine. Let it go already - you've made your point; nobody cares.

NYC_10005

Why are you being such a prick? uomoprimo is just speaking from experience and venting his frustration. Seems like you have an ax to grind with him...you've made your point, nobody cares

20 Pine presold at $800 psf. Sponsor currently selling units in the $600-$700 psf range. If you can get a sunny unit in that range you're golden. 15 Broad has stabilized at the $900-$1000 range. When this mess clear, those purchainsg at 20 Pine at distressed levels are going to make money.

Actually, they were interesting posts.

I'm with 10005 on this.
Don't buy, understand.
What is the good rationale for not renting for the short term? The only good reason is either the units are too expensive for rent - not the case, the building is in bad shape - not the case, or he has some axe to grind - ...

uomoprimo, please keep posting. your posts are clear, concise, well written and unemotional

Thanks guys. Don't you just love the "ignore" button? I do.

I intend to keep posting because I like the building as I've said before, and I'm making actual observations from the scene. No axe to grind, other then FiDi needs to wise up to its predicament, and it is wising up, slowly but surely.

uomoprimo - did you rent a unit someplace else? Just curious if you decided on a different building....

http://downtowny.blogspot.com

uomoprimo sounds like one of those Macy's labels that is supposed to make the buyer think it is "like Armani"... you know, Alfani, or in the case of battery park condos, Verdesian.

I haven't rented someplace else yet. My lease at my place isn't up until September, so just browsing now.

PCVill....Adolfo? :)

A day ago, I was able to negotiate a large loft down to $36 sft. I was shocked to say the least. This was with broker and condo application fee being paid. The owner didn't want a two year lease, but I refused because a rider in the contract says that the owner can show the apartment for three months before lease ends. What's the point? I'm in the place for nine months, and then suddenly having people tromping through my stuff every day for three months? Fail. I refused. The owner agreed to sign a lease for two years, and I said that I wouldn't take it with an increase. They agreed. This was with little to no negotiation. I'm still not convinced because it's not my favorite unit I've seen, but the concessions are tempting.

At first I was getting lots of, "No, tho owner won't do this, the owner won't do that." Again, FAIL. The moment I even look like I'm backing out, concessions start being made. I'm going to probably wait a bit longer because the larger alcove loft units are still overpriced by 25% or so with one or two exceptions, one that had a contract signed the day it went on the market just last week. Once I see those drops happening (and trust me, they are happening), I'm going to go to contract. But insist on a two year (or more) lease. This fantasy that the owners have that the market is going to drastically increase in FiDi in a year and they will be able to find tenants that will double their rent is precisely that, a fantasy. The faster the owners learn this, the faster they will rent their units, and the better tenants they will have.

Make no mistake boys and girls, this is now a renter's building, SHVO or no.

uomoprimo - leases should have the following:
1 year plus 1 year option at the same rent
60 day notice on the option and 60 day period before termination they can show the place
CROSS OUT the provision that allows them to cancel the lease if they are going to sell - they should sell with the tenancy in place, you should not let them have that option. This is really important.
CROSS OUT the provision that allows for a rent increase in the monthly common charges for the unit go up - you are negotiating a lease with a rent and the owner should take into account his or her monthly costs and anticipated monthly costs - it should not be up to you.

Last two cross outs are hugely important.

Thanks for that help gleeclub, I really appreciate it.

ok we rented here 1 year ago and received an email yes to a 20 percent reduction to re-up for another year. asked for 2, no dice. landlord is clearly clueless and does not want to sign any sort of lease extension. can we legally stay as long as we pay the rent on time each month? and, yes this is a rental bldg now which i don't mind at all...we are still alone on our end of the floor...empty apts all around, so quiet! and until you live in FiDi you'll never understand us who love it. quiet quiet. good grocery (3) within a few blocks, gyms, irish bars, trains..and no people after 7. love it.

oh, and just for fun we tested the craigslist no fee broker listings; they're all fake. just a method to get you in the door then the 2800 real 2 bedroom is suddenly 4500, and just a wee fee. isn't thie a sherman antitrust violation or something. blind ads for condos which is real property. brokers go re take your r/e tests.

did they finish the pool and gym

Yes, the pool and gym were opened yesterday. Photos: http://newyorknycondo.com/New_York_Apartments/Pictures_%26_Floor_Plans/Pages/20_Pine.html

is it the pictures or is everything on the basement

The pool and gym were finally opened.

Yes, everything is in the basement midtowngal.

how do you like them uomo?

I am interested in a true 1 bedroom unit at 20 Pine, if anyone should have one available or is looking for a well qualified tenant please contact me at 347-688-5360 teabag1680@yahoo.com (alex)
My price range is 2500-3600
Furnished or Unfurnished is okay
and move in date is extremely flexible.

Anyone have an idea of what 1BR's have actually been renting for at 20 Pine? From what others on the board have said, the list prices on SE for rentals aren't very accurate these days.

i am looking at a studio in 20 pine. they are asking for $2700/month and 1 month free. there is a 15% brokers fee ($5000). are the rental units all through brokers? is this fair? it seems crazy to ask for that kind of fee in this kind of market! please advise.

I assume you are joking about the broker age fee. The fee should be 1 month and any sensible owner in the building who wants to get the apartment occupied will pay it himself. Nothing is renting when a brokerage fee is involved for the renter. Nothing.

2700 per monhth - only if it happens to be one of the nicer studios there, i.e. has a view. There are many that look directly at one of the office buildings across and that should be discounted very very heavily because of light, privacy, and just plain old ugly view. Plus those apartments tend to the be ones that are deeper into the building and just plain dark.

When renting anything in any of these new condos, make sure that there are a few things that could be taken for granted, like window shades. Like a door on the shower.

I think the studios were going for as low as 1600 in this building no? 2700 for a studio in the financial district would be DUMB

$1600?? You should have no problem renting in Flushing or Woodside. Why be dumb and rent in Manhattan? You can get good deals in the Bronx.

Are all the studios here high?

Anything at 2,000 per month?

The killer with 20 Pine is their $2000 non-refundable fee's
which include move-in and move-out fee, app fee, doc fee, credit fee.. etc etc.

Don't think I know any other building which has such high fee's, I guess it is their way to discourage transient tenants in a "investor heavy" building.

The killer with 20 Pine is their $2000 non-refundable fee's
which include move-in and move-out fee, app fee, doc fee, credit fee.. etc etc.

Don't think I know any other building which has such high fee's, I guess it is their way to discourage transient tenants in a "investor heavy" building.

$2000 is indeed high.

As far as discouraging transient tenants, it seems more to be a way for the developer, who might still control the board and management company, to cover some cash flow. It hurts the owners and the renters in some non-transparent proportion, but they are not of concern to the developer. A good reason to be cautious as an investor in a new development.

Curious if there are still broker and/or building fees in 20 Pine for rentals? Is the $2K non-refundable fee confirmed? Would that be in addition to any broker fee on the unit itself? Thanks

I'm also curious regarding the fees. I'm a current renter in the building, once my current lease ends I plan to lease a larger unit also in the building. However, I will not do so if it requires paying fees again. Anyone have any experience with this situation, in this particular building or other condos?

I would love to rent at 20 Pine. Anyone with no-fee units available for under 2500 please let me know. Thank you :)

Hi,

I also would love to rent in 20 pine for Feb 1 ,2012 please let me know if anyone has a unit available.
Thanks!

:)

Hi I am looking for a 2BR.. max rent $5500 NO FEE please in here, for between now and March 2012 Thanks!

major construction on the building. roof is closed all summer. neighbors complain if you watch tv late at night.

old anti-Jason posts make me laugh:

jimstreeteasy
about 4 years ago
Posts: 1967
Member since: Oct 2008
ignore this person
report abuse

Jason about 80% of your posts contain emphatic language either in words OR CAPS insinuating that the other person is an idiot. But you inappropriately use such emphasis in situations where it is in polite society considered a debatable point so you don't need to call the person an idiot. Even in this example, you may well be right but I have read on SE about a zillion warnings that low rental rates on the internet are bogus, so maybe those disagreeing with you are not...INSERT CAPS.

jezy24 - you live at 20 Pine? And there are noises that transmit between units?

I was perplexed by the wood finishes in the bathroom.
Ya think the wood encased tubs get wet?

Oh, made in china no less.

http://www.china-buy.com/bathroom.cfm (3rd pic across)

Can you imagine what comes leaching out of that soup?