The Real.Est List
Would you rather...live in a fabulous 4th floor walk-up, or a plain-vanilla elevator building abode?by Mayra David | 5/01/13 - 8:55 AM
Who doesn't love a good round of "Would You Rather"? We've decided to give the age-old party game a real estate twist in this new every-so-often column.
Today we're kicking things off with our first totally hypothetical question: Would you rather pay $1 million for a fourth-floor walk-up that’s 1,500 square feet and gorgeously renovated with outdoor space--or use that same million to buy a 900-square-foot generic apartment in an elevator building?
We asked five New Yorkers to choose--and explain.
- by Teri Karush Rogers | 4/30/13 - 12:56 PM
Q. What sort of things do co-op boards look for in reference letters? Are reference letters from out of state acceptable? I've only been in New York for six months and I don't know that many people here other than through work.
A. Relax: Out of state reference letters shouldn't be a problem in most buildings, according to our experts.
"While it’s great if you’ve been a New Yorker for awhile, already owned shares in a co-op, know someone in the building, or have some other bond that will create a comfort level with the board, being a recent transplant is not necessarily a negative," says real estate broker Gordon Roberts of Warburg Realty. "Your letters would reflect the transition and demonstrate some continuity."
- by Alex Hughes | 4/30/13 - 11:51 AM
Looks like three (thousand) is the lucky number this week. The Hot Dozen--the 12 rental apartments Streeteasy.com visitors clicked on most often over the past seven days--features three two-bedroom apartments for $3,000/month apiece.
Just steps from Hudson River Park and the Highline is a two-bedroom apartment at 322 West 11th Street and Greenwich Street listed at, you guessed it, $3,000/month. Each of the apartment's two bedrooms has windows (with window bars, as this is a first-floor unit) and can fit a full bed, and the place has high ceilings and wood floors.
- by Elise Pettus | 4/30/13 - 8:58 AM
If you are thinking about divorce in New York City, you are thinking about real estate.
“The home is almost always the major issue,” says real estate broker Deborah Lupard of Warburg, herself a divorced homeowner in TriBeCa. “Where are you going to go?”
If you and your spouse own a house or an apartment together, chances are this is your primary asset or at least one of them. And it’s not many couples anywhere--let alone New York City--that can sell their home and buy two comparable ones. It can be a thorny question and often the most difficult to work out, especially if there are kids in the picture.
- by Sara Alessi | 4/29/13 - 1:19 PM
Did the nice weather this weekend inspire an unusual number of out-of-towners to go house hunting for a pied-a-terre in the Big Apple?
Perhaps. Today's Open House Scorecard--rounding up the 10 open houses buyers perusing StreetEasy saved to their open-house calendars more often than any others this weekend--features several apartments that go very light on purchasing restrictions.
On the Upper West Side, a $690k two-bedroom, one-and-a-half-bath co-op (pictured) on West 82nd Street between Riverside Drive and West End Avenue could also be purchased as a pied a terre.
- Sponsored by Insurent Lease Guaranty4/29/13 - 11:53 AM
As most renters know (or are shocked to learn), finding an apartment that’s affordable, livable, and available is only the first chapter in the epic battle for a NYC rental.
Once you’ve found a place worthy of renting, you must now convince a landlord that you are rent-worthy.
Here are some scenarios in which Insurent can save the day and get you that apartment.
- by Marjorie Cohen | 4/29/13 - 10:47 AM
You’d have to be living in a cave or on a desert island not to know how hot the New York real estate market is this spring.
Gary Malin, president of Citi Habitats sums up what everyone is thinking: “We are in an appreciating market right now and prices have the potential to reach all time highs in the near future. ...If the sales market continues on this path, it will surpass its previous high, which was set in 2008, some time this year."
The reasons: shrinking inventory, low mortgage rates, international buyers. A perfect storm. So how do you know if you should take the plunge and put your apartment on the market?
Here are 4 questions to ask yourself.
- StreetNoiseby Sara Alessi | 4/29/13 - 9:07 AM
- Sellers: Here's how to turn your apartment into a wallflower (The Real Deal; previously)
- Central Park West couple who rented out condo 110 days last year as a hotel (and blogged about it) shocked--shocked!--over board's lawsuit (NY Daily News)
- What it's really like to be board prez (NY Times)
- Does your commute justify your rent? Yes, if you live in LIC (Curbed NY)
- In NYC's seller's market, some start to specifiy which lenders buyers can use for financing (NY Times)
- Michelin-starred restaurants and expats partly to blame for the high cost of NYC housing (NY Times)
- The wider your townhouse, the rarer and more valuable--but super-skinny wins bragging rights too (The Real Deal)
- UES isn’t seeing green: Compared to other ’hoods, it’s lacking in parks and open space (Crain’s New York)
- by Lucy Cohen Blatter | 4/26/13 - 3:03 PM
According to the listing, this $3,500 four-bedroom is in Prospect Heights, but we think that's pushing it a bit. The location is better described as Crown Heights. Either way, it sounds like a pretty good deal
Pros: Although the apartment has been recently renovated (as you can see from the photo of the kitchen), architectural features such as a fireplace, moldings and frames have been retained and restored.
Cons: The apartment is a third-floor walk-up.There's only one (small-looking) bathroom.
- by Loren as told to Julie Inzanti | 4/26/13 - 1:20 PM
I am a born-and-bred New Yorker who grew up on the Upper West Side on West 87th and Broadway. I later moved to 112th and Fredrick Douglass Boulevard and then 110th Street and Lenox before moving to my current place in the Financial District.
While starting my business back in 2007--I have an all natural, ready-to-bake desserts company called Sweet Loren's--I was living at home. Unfortunately, my mother passed away and we had to sell the apartment that she owned on 110th Street.
Another reason for moving downtown was that I didn't like being so far away from my friends (who mostly live n Brooklyn, on the Upper and Lower East Sides and the West Village) and definitely felt a lack of good supermarkets, cafes and gym.
- by Mike Akerly | 4/26/13 - 10:56 AM
Q. I recently moved out of a studio apartment that I had rented for three years in the West Village. I didn’t leave the apartment in the best condition and some of the damage was my fault. I didn’t really expect to get my $2,500 security deposit back.
However, after I moved out, my landlord called me to say that it cost $800 more than that to make repairs. Do I really have to pay him?
A. Absolutely! A security deposit is designed to protect a landlord from having to go after a tenant to collect monetary damages after the tenant moves out. It is not, however, a cap on a tenant’s liability.\
If you caused damage to the property and the landlord can demonstrate that the reasonable cost of the repairs was $800 more than your security deposit, you owe that money.
In the event that you do not settle your obligations with your landlord, he could file a claim against you in small claims court. If you choose to ignore it, he will ultimately get a default judgment against you and presumably could collect on it by levying your assets (e.g. bank accounts) or garnishing your wages.
- by Sara Alessi | 4/26/13 - 8:55 AM
Spring is finally here (hooray!), and views of the great outdoors may have been on everybody’s minds this week. The majority of the apartments in Most Wanted--the 10 sales listings StreetEasy users saved more often than any others this week--feature apartments with several views of the outdoors. And New Yorkers seem willing to pay way over the $1 million mark for that privilege.
Not only do you have a great view of the outdoors from inside this $1.775m two-bedroom, two-bathroom penthouse duplex condo on 14th Street between Seventh and Eighth avenues in Chelsea, but you can also go outside and enjoy a breath of fresh air on two private terraces. One faces north and overlooks brownstones, while the other faces south with views to the Freedom Tower. The living/dining area also offers views to the north. One con: An assessment of $492/month is in place.
- Hell's Bitchenby Kelly Kreth | 4/25/13 - 3:22 PM
It’s that time: Spring cleaning! Notice the exclamation point here and in the headline. It means I’m excited. While some might not be and think of cleaning and organizing as chores, when you are as neurotic as I am, it is a time to celebrate.
Probably the biggest chore for any NYC apartment dweller—particularly female--in relationship to the change of seasons is how to deal with clothing. You know the old tale of girls who store their sweaters in ovens and 100-plus shoes in kitchen cabinets? Believe it.
First up: Clothes and accessories
In the blink of an eye, when the weather changes from frigid to springy, everything changes when it comes to wardrobe. Boots get shuffled away into boxes that hide deep in the recesses of closets, while open-toed sandals come dancing out to be stored in full view.
- by Julie Inzanti | 4/25/13 - 12:22 PM
This $13.4 million Carnegie Hill home has 13 rooms and three outdoor spaces…and all of the incredible features any Park Avenue limestone townhouse should have… like a butler's pantry, a gorgeous oversized eat-in-kitchen, high ceilings and original wood mantle fireplaces.
But the fun happens in the funky indoor game room/kids' bedroom, complete with a basketball hoop and gym-like flooring, a loft bed you can climb up to and a punching bag hanging from the ceiling.
Luckily, in a single-family home you don't have to worry about downstairs neighbors complaining about a competitive Saturday morning one-on-one.
Real Estate Want is a weekly column featuring New York City apartment details we're coveting right now.
- by Kelly Kreth | 4/25/13 - 10:16 AM
We here at BrickUnderground get how stressful (and expensive) moving day can be. That's why we've covered myriad issues, including how to negotiate with a mover, high-tech ways to make a move easier, tips on moving without getting bedbugs, keeping things stress-free on moving day, avoiding moving scams and the ins and outs of building temporary walls.
When embarking on a mov —just like packing for a trip—you always seem to forget something. And in NYC (surprise!) everything's just a bit more complicated (thanks to small apartments and big furniture, lots of walk-ups and more).
Until you've done it a few times, some of the nuances of a NYC move may elude you. So, we asked some real New Yorkers to offer their real-life advice. Here's where hindsight is 20/20.