TranceAddict Forums (www.tranceaddict.com/forums)
- USA - New York
-- [HELP] NYC Apartments

[HELP] NYC Apartments

hey guys my cousin is moving from France to NYC in a week and he is lookin for an apartment in manhattan (i think)and he asked me to help him find something but i am not quite sure what to look for, where to look, what is a good price...... its him and his gf and i'm sure they are lookin for a 1 bedroom or a studio

any help is greatly appreciated

Check out Craigslist.com to get an idea of what is out there:
http://newyork.craigslist.org/cgi-bin/apartments.cgi

Studio in NYC - ~$1800
1 Bedroom - ~$2100
...obv they can be more or a little less but not much.

Upper East Side and Lower East Side have the best deals and open occupancy.

Coming from France I would suggest get a broker as they prob wont have time to shop around too much and hunt on there own. Prob run a months rent or more.

Long Island City, Forrest Hills, JC, Hoboken are all great alternatives depending on where they have to commute to for work.

just do housingmaps.com

it's google and craiglist combined.

http://www.454manhattan.com/

archstone clinton
i love this building! my friend is moving in next month, she got one month free and doesn't have to pay a security deposit. i've seen the building too and i really like it but the apartments are true to size meaning a one bedroom is really only a one bedroom not two.

quote:

Originally posted by chimera66 http://www.454manhattan.com/ archstone clinton i love this building! my friend is moving in next month, she got one month free and doesn't have to pay a security deposit. i've seen the building too and i really like it but the apartments are true to size meaning a one bedroom is really only a one bedroom not two.

whats the rent on a studio/one bedroom and two bedroom? do u know?

nevermind between 10th and 11th avenues????? im not going past 8th... thanks!!

quote:

Originally posted by chupa169 Check out Craigslist.com to get an idea of what is out there: http://newyork.craigslist.org/cgi-bin/apartments.cgi Studio in NYC - ~$1800 1 Bedroom - ~$2100 ...obv they can be more or a little less but not much. Upper East Side and Lower East Side have the best deals and open occupancy. Coming from France I would suggest get a broker as they prob wont have time to shop around too much and hunt on there own. Prob run a months rent or more. Long Island City, Forrest Hills, JC, Hoboken are all great alternatives depending on where they have to commute to for work.

forest hills, one R... i live there

quote:

Originally posted by DJ_Lord nevermind between 10th and 11th avenues????? im not going past 8th... thanks!!

it's not that far from the train actually and the roof is very nice. nice little neighborhood in midtown, not bad imo. also they have a gym, supposedly very nice and free for the first couple months

mine
Location: 76th B/W 1st and 2nd(upper east side)
Type: 1 bedroom(2nd floor) walk up
rent: 1800 (heat,water inc)
Only downside was 15% fee because it was through citi-habitas and it all started through craiglist but I am very happy with the location and living conditions.

I have a friend with a one-bedroom near mid-town east and can see the river: 3100$/month. His is much nice and his bldg has lots of amenities(gym, doorman, elev..)

1800 for a decent one bedroom will be the best you can find and there are some crappy apartments for 1800 or less unless you get lucky. You want nicer(doorman, elevator, laundry) you will pay 2k plus maybe 3k plus depending on location.

if I only had you know 45 million I would not mind getting one of those duplex's or three floor thinggy's overlooking Central park. Even the doorman that won the 5 mil lottery could not afford an apartment in the luxury bldg he worked for


PS. Nice studio I looked at(size of my one-bedroom with doorman and elevator) was 2k a month in upper east side!!

i live on 78th between 1st and york. i got it through a broker and paid one months rent. i actually like my apartment a lot and am near a 24 hr duane reade, supermarket (dagostinos) and theres a park down the street u can go to during the summer. however, i just moved here like 3 months ago and i am actually growing tired of old people. i guess i should've realized upper east side = vast amounts of clueless old people wandering around the streets.
i mean i have nothing against old people but they slow me down and i'm always on a rush! anyway, if i could move again, i would definitely look for something closer to the village. i like the east though, so i would probably look for something between 25th and 1st streets and 3rd ave just because i would prefer to be sorrounded by people my age and not grandma and grandpa..

the UES actually reminds me of that South Park episode where they have old people driving around the streets killing people and shit.. hahah

quote:

Originally posted by DJ_Lord i would prefer to be sorrounded by people my age and not grandma and grandpa..

Does this sound fimilar...

Since I moved in June there was this old grumpy man sitting in his white patio chair next to the parking grage on my block. The day I moved in with my u-haul I partially blocked their driveway and said I 'llmove it in a few minutes but this old man was defending the parking guys like they were his savior or something. I told the old guy I came there to make him angry and I think that shut him up and I did move so whatever.

Well since that day and everyday I leave my apartment for the subway he is sitting there from hmmm maybe 8am to 5-7 pm 5 days a week! makes me sick sometimes.

when i lived in the city i was in a studio at 181 7th ave (between 20 and 21) with a doorman, elevator, and balcony overlooking 7th. shit cost me 2400/month. when I move back, like i said in a diff thread, ill be looking in BK or Queens somewhere close i think

quote:

Originally posted by The Vza when i lived in the city i was in a studio at 181 7th ave (between 20 and 21) with a doorman, elevator, and balcony overlooking 7th. shit cost me 2400/month. when I move back, like i said in a diff thread, ill be looking in BK or Queens somewhere close i think

My two cents..
Manhattan is basically can you afford above 2k or not. If so then you get the goods or above average. If not then if you find something decent take it or there will be 3 other people in line for that ish.

quote:

Originally posted by chimera66 http://www.454manhattan.com/ archstone clinton i love this building! my friend is moving in next month, she got one month free and doesn't have to pay a security deposit. i've seen the building too and i really like it but the apartments are true to size meaning a one bedroom is really only a one bedroom not two.

That place is beautiful, but I couldn't ever justify paying that kind of rent a month. For something the size I am living in now would cost me 3x what I pay for my mortgage here.
(if I could afford it, maybe it would be a different story )

quote:

Originally posted by magikb That place is beautiful, but I couldn't ever justify paying that kind of rent a month. For something the size I am living in now would cost me 3x what I pay for my mortgage here. (if I could afford it, maybe it would be a different story )

understandable, there is a threshold of how much rent i will pay as well. paying rent is such a bad financial decision if you are paying ~$2,200 plus alone and know you plan on remaining in an area for a long time. my next step is a mortgage, that's the only way i can justify paying ~2,200 plus.

quote:

Originally posted by chimera66 understandable, there is a threshold of how much rent i will pay as well. paying rent is such a bad financial decision if you are paying ~$2,200 plus alone and know you plan on remaining in an area for a long time. my next step is a mortgage, that's the only way i can justify paying ~2,200 plus.

the problem is 2,200 a month is probably unrealistic for an apartment in a good neighborhood in manhattan. 2200 a month covers a $366K mortgage @ 6% for 30 years, exclusive of maintanence and taxes. A more realistic mortgage payment is 3300+ a month (550K principal @ 6% for 30 years), exclusive of maintanence and taxes. The addition of taxes and maintanence could add hundreds to your monthly bill. Additionally, the 550K would only buy you a 1br shoebox in most likely a questionable building. I love manhattan, but not that much - you get much more value per dollar in Jersey or BK.

quote:

Originally posted by jerZ07002 the problem is 2,200 a month is probably unrealistic for an apartment in a good neighborhood in manhattan. 2200 a month covers a $366K mortgage @ 6% for 30 years, exclusive of maintanence and taxes. A more realistic mortgage payment is 3300+ a month (550K principal @ 6% for 30 years), exclusive of maintanence and taxes. The addition of taxes and maintanence could add hundreds to your monthly bill. Additionally, the 550K would only buy you a 1br shoebox in most likely a questionable building. I love manhattan, but not that much - you get much more value per dollar in Jersey or BK.

buy in bridgeport, CT. emerging re market. however, not to live, just speculation.

quote:

Originally posted by DJ_Lord buy in bridgeport, CT. emerging re market. however, not to live, just speculation.

RE speculation (by unqualified buyers) is the primary cause of the current worldwide economic mess. I would stay away from RE speculation for a while.

quote:

Originally posted by jerZ07002 RE speculation (by unqualified buyers) is the primary cause of the current worldwide economic mess. I would stay away from RE speculation for a while.

yes but it is much tighter after the main crunch to approve unqualified buyers.

I could never justify paying that much. That is why I rather be in NJ and just take the path train over.

quote:

Originally posted by DJ_Lord yes but it is much tighter after the main crunch to approve unqualified buyers.

Mortgage brokers have done a number on how people value real estate, namely by making financing easy to acquire (so unqualified buyers could bid up prices) and creating exotic loans that inflated the principal amount of loans and thus the property values. Real estate values should not be based on how much people can afford to pay (as you know) because that does not focus on the asset, rather, it focuses on the purchasing power of the consumer (and in this case, the purchasing power was overestimated). As I'm sure you know, real estate should be based on the return that the purchaser could acquire on the property (in this case, the rental value of the property divided by the discount rate). This should be true even for residental real estate. Because residential real estate is sold mainly by brokers and agents without a finance background, they can't give a purchaser an accurate estimate of the value.

quote:

Originally posted by jerZ07002 you get much more value per dollar in Jersey or BK.

yea brooklyn,queens,nj
you get alot more for your $$ and your maybe 30 min away from manhattan

quote:

Originally posted by jerZ07002 the problem is 2,200 a month is probably unrealistic for an apartment in a good neighborhood in manhattan. 2200 a month covers a $366K mortgage @ 6% for 30 years, exclusive of maintanence and taxes. A more realistic mortgage payment is 3300+ a month (550K principal @ 6% for 30 years), exclusive of maintanence and taxes. The addition of taxes and maintanence could add hundreds to your monthly bill. Additionally, the 550K would only buy you a 1br shoebox in most likely a questionable building. I love manhattan, but not that much - you get much more value per dollar in Jersey or BK.

i never said i wanted to eventually buy a place in manhattan. the cost is just ridiculous and not worth it imo. when i get to that point i will move because i miss all the comforts of home so that means suburbia

quote:

Originally posted by jerZ07002 Mortgage brokers have done a number on how people value real estate, namely by making financing easy to acquire (so unqualified buyers could bid up prices) and creating exotic loans that inflated the principal amount of loans and thus the property values. Real estate values should not be based on how much people can afford to pay (as you know) because that does not focus on the asset, rather, it focuses on the purchasing power of the consumer (and in this case, the purchasing power was overestimated). As I'm sure you know, real estate should be based on the return that the purchaser could acquire on the property (in this case, the rental value of the property divided by the discount rate). This should be true even for residental real estate. Because residential real estate is sold mainly by brokers and agents without a finance background, they can't give a purchaser an accurate estimate of the value.

i understand that, but i was referring to giving mortgages to people with bad credit (unqualified buyers) as it happened since 2005.

what you are talking about though, is completely true and that is why we have re finance. when we buy a property we hire a realty firm that can construct models on the item for better understanding. my boss just purchased a building in las vegas (residential) and we hired a realty firm to evaluate the asset with projections on its current standing including possible volatility in las vegas re market.

also, as you said, the price was overestimated. this is the case in every single market, globalization is established in creating bubbles of everything, to me they are opportunities.

Powered by: vBulletin
Copyright © 2000-2021, Jelsoft Enterprises Ltd.