The Real.Est List
- by Alex Hughes | 5/28/13 - 12:17 PM
A studio at 314 East 41st Street and Second Avenue is listed at $1,600 and is no fee. The 275-square foot apartment has a separate kitchen and large closets that maximize available space, both rarities for studios. Bonus: it's in a full-service prewar building.
Further south, a studio apartment at 309 East 18th Street and Second Avenue listed at $1,690 is already rented.The apartment has (had) bright windows and an eat-in kitchen.
- Sponsored by Regosin, Edwards, Stone & Federby Adam H. Stone, Esq. | 5/28/13 - 10:04 AM
Bidding wars are back, and many sellers flooded with multiple offers are responding in kind--accepting more than one offer and instructing attorneys like me to send out multiple contracts.
For sellers, two are better than one. There is never a guarantee that the buyer’s accepted offer will ultimately result in a signed contract, as neither party is bound until fully signed contracts have been delivered. In the meantime, the buyers may find another apartment they like better, or decide against signing after learning something during due diligence. If the deal doesn’t go through and another contract is out, presumably it will take less time to finalize a ‘backup’ buyer.
For buyers in a multiple contract situation, it's a race to the finish line—one they’re sometimes not even aware they are in. Many are upset when they find out. But do they have a right to be?
Here’s the deal.
- by Mayra David | 5/28/13 - 8:58 AM
They say when you buy a home, you should buy the worst house (or apartment) on the best block. Let’s say you followed that adage and got yourself a real fixer-upper. If you’re on a budget, you’ll probably want to do as much of the work yourself, as we did.
When we first walked in to our Harlem pre-war, one-bedroom 900-square-foot apartment, the place had the vibe of one of those old homes in movies where everything is covered in dusty, white sheets just waiting for us to prance around and unveil it.
Well, white sheet was right. Except it was white paint that had basically just been slathered over everything but the floor. Then there was old water damage bubbling underneath patches of crumbling walls. And of course, the bathroom needed gutting.
Now, after undergoing renovations for over a year--and being about two-thirds of the way through everything we want to accomplish--I’ve learned a ton.
- by Lucy Cohen Blatter | 5/24/13 - 1:48 PM
This alcove studio is located in the elegant, full-service Brompton condo building at 205 East 85th Street, between Second and Third avenues. The apartment is available on July 1.
Pros: The unit is large enough to be converted to a one-bedroom. TV, linens, a bed, sofa-bed, washer-dryer and electric are all included in the price.
Cons: Board approval is required. For some, the fact that it comes furnished could be a problem.
- Transitionsby Joseph as told to Julie Inzanti | 5/24/13 - 10:50 AM
When I moved to New York in 2005 I lived in a $1,600 per month, two-bedroom apartment on the border of Red Hook and Carroll Gardens, on Carroll Street between Columbia and Hicks. It was one of three units in a very small building. The neighborhood was warm and friendly…a lot of families and, of course, hipster-types scurrying about.
After about five years I felt I needed my own place. I found a one-bedroom apartment in Crown Heights on the corner of Lincoln Place and New York Avenue for $1,200 per month. I lived there for two years before moving with with my girlfriend last year one-bedroom rental in Battery Park City that we got a great deal on.
This neighborhood change was drastic.
- by Sara Alessi | 5/24/13 - 8:56 AM
With spring here and summer just around the corner, it’s no surprise that private outdoor space is on apartment buyers’ minds, and why not have an extra floor, too? This week’s roundup of the Most Wanted -- the 10 sales listings people browsing StreetEasy saved more often than any others this week--has got duplexes with private outdoor space.
In Hell's Kitchen, a two-bedroom, two-bathroom penthouse duplex co-op with an asking price of $850k offers a great chance to enjoy the warm weather, because it features a terrace and roof deck. Located on West 40th Street and Ninth Avenue, the apartment has recently been well-renovated and comes with a washer-dryer. The common areas in the building have also been renovated. Maintenance is relatively low at $935/month, but the building is a walk-up.
- Hell's Bitchenby Kelly Kreth | 5/23/13 - 3:01 PM
I firmly believe that there needs to be a category in the DSM-5 (fifth edition of the American Psychiatric Association's Diagnostic and Statistical Manual of Mental Disorders that launches this week) devoted specifically to disorders caused by NYC real estate.
Ah, the passion it can stir! Over the course of my life in NYC I have read articles about people literally killing for a rent-stabilized apartment or tenants disappearing from one because a landlord wanted charge market rates and could not legally evict them. People will come up with elaborate schemes to take hold of the Holy Grail--a rent-stabilized unit--or even stay married just to not lose an apartment.
The world of real estate can make one go mad in a very esoteric way.
- by Julie Inzanti | 5/23/13 - 1:05 PM
This renovated 1869 Greenwich Village townhouse--until yesterday, available for rent at $55,000/month--has 9,000-square-feet of clean and simple design and FOUR outdoor spaces.
Though there's no great view to speak of in the outdoor space pictured here, we think this stainless steel, full-service kitchen al fresco makes up for it. We're not sure, but the enclosure built around the space seems like it may be intended to accommodate winter bbq cravings too....
Real Estate Want is a weekly column featuring New York City apartment details we're coveting right now.
- by Mike Akerly | 5/23/13 - 11:01 AM
Q. I’m in the process of applying for a new apartment to rent and have run into a snag. My income is slightly lower than the requisite 40x the monthly rent, so I offered to pay three months’ security to secure the apartment.
I’ve done this before with another landlord and it was not a problem at all. This time, the broker for the landlord came back and said that they’re not legally allowed to accept more than one month’s security. Is that true?
A. It’s common for landlords to compensate for deficiencies in a prospective tenant’s application by adjusting their requirements for upfront rent or the security deposit. For example, a tenant with a low credit score, income, or assets might offer two to six months in security to offset the landlord’s perceived risk.
- by Leah Hochbaum Rosner | 5/23/13 - 9:54 AM
Moving to New York can be daunting—even if the relocation is only temporary. A diligent apartment search or a really good broker can yield decent short-term digs, but if it comes unfurnished, it usually doesn't make sense to spend the time or money outfitting a place unless you tend to settle down for the long haul.
That's where CORT—the subject of this week’s Real. Est. List Spotlight Series—can help. The furniture rental company specializes in furniture for any impermanent situation, including job relos, students, businesses, home staging, and trade shows.
- StreetNoiseby Lucy Cohen Blatter | 5/23/13 - 8:57 AM
- If you really want to snag an in-demand apartment, you might want to consider some unconventional bidding war tactics (Malcolm Carter)
- Ever wonder what kind of vacation spot you could swap your NYC apartment for? Here's a good idea (NY Magazine)
- Judge upholds $2,400 fine against condo owner for 3-day rental on Airbnb.com (The Real Deal)
- DIY tips for fixing common bathroom problems... no plumber needed (New York Post)
- Remember that UWS townhouse with the sore thumb rooftop addition? It's on the market (West Side Rag)
- Here's what can happen when your condo renovation goes on for two years (The Daily News)
- Co-op: 1. City bike-share program: 0. (DNA Info
- by Sharon Krum | 5/22/13 - 3:20 PM
WHO: Supermodel and activist Christy Turlington Burns is going to be the next face of Calvin Klein underwear. Get ready for men driving off the road when the billboards go up.
WHERE: Turlington, her husband (filmmaker Ed Burns) and their two children live in TriBeCa, where the median sales price is $3.55 million an the median rental price is $7,847, according to StreetEasy.
Your Celebrity Neighbor is a weekly heads-up on the A-listers who call your neighborhood home and (in theory) shop the same Duane Reade as you.
- by Leah Hochbaum Rosner | 5/22/13 - 11:50 AM
Forget cicadas. The onset of summer in NYC is marked by the universal hum of millions of window air conditioners.
In the past, we've covered such critical A/C issues as whether it’s worth the money to get your unit cleaned out, tipping advice for installation, and how to install an A/C if window bars get in the way (carefully).
Here are a few other nuggets to boost your A/C IQ.
- by Mayra David | 5/22/13 - 8:57 AM
In this week's edition of "Would You Rather" we asked New Yorkers if they'd be willing to give up a bathroom for a washer-dryer. And the answers were nearly unanimous: Yes!
- Washer-dryer That’s a no brainer. Especially because I live in a walk-up. But even if I didn’t live in a walk-up, I’d still choose a washer-dryer. -Charlie, Midtown West
- Washer-dryer Sure a second bathroom is nice. But that’s luxury compared to having an in-unit laundry set up and not having to haul heavy sacks of dirty laundry out the building, even if it’s just up the block. Especially when it’s snowing or raining or the sun is broiling hot. -Rach’el, Harlem
- by Teri Karush Rogers | 5/21/13 - 1:55 PM
Q. Is there any downside to buying an apartment with a renter in place, beyond waiting until the lease expires? Should I expect a discount off of the sales price and if so, how much?
A. Much of the answer depends on whether you plan to live in the apartment yourself or rent it out as an investment, as well as on what type of tenant is currently in place, say our experts.
"If you are buying the apartment for investment and wanted to rent it out anyway, then it could be a great bonus to have a tenant in place already," explains real estate attorney Adam Stone of Regosin, Edwards, Stone & Feder.