BrickUnderground

This $540,000 West Village studio is in a co-op building that permits parents buying for children. 

While no one knows for sure how many of the city’s half-million co-op and condo apartments have been purchased by parents for their adult children, real estate brokers and managing agents say they have seen more parents shopping for apartments for their adult children since the post-2008 recovery began.

“Over the last two years, I’d definitely say the number of parents who are doing this has exploded, particularly with foreign buyers, but also people who are in the United States,” says Elaine Diratz of Corcoran Sunshine Marketing, which represents 18 NYC new developments with units currently for sale, including 515 East 72nd Street and 123 Third Avenue 

“Particularly on the higher-end, one of the biggest factors driving this right now beyond the vast educational and professional opportunities the city has to offer is that many parents also view New York real estate a great long-term investment they can make,” she says.

Thanks in part to skyrocketing rents, buying a place for a college or grad student can make more financial sense than renting one for them. 

Here are a few things to think about before you act.

You can see Manhattan from a two-bedroom, two-bath Park Slope condo on the market for $999k. Located on First Street between Fourth and Fifth Avenues, the top-floor duplex has two terraces.

Maybe it was all that talk about air rights in the NY Times this weekend, but snagging an apartment with a nice view was apparentlyh on open-house-visitors’ minds this weekend. This week’s Open House Scorecard -- the 10 open houses StreetEasy users saved to their open-house planners more often than an others this weekend -- because it features a set of apartments with versatile views. 

The Hudson River and Riverside Park are visible from a $1.395m two-bedroom, two-bathroom in a doorman co-op on West End Avenue and 72nd Street. The pre-war corner unit offers these views from the living and dining rooms, kitchen and north and west exposures of the master bedroom. The apartment also features two walk-in closets (in addition to standard closets). There’s no flip-tax on this for-sale-by-owner unit, but a capital improvement assessment of $252.84 is in effect through December 2014, and bathrooms, which are in their original condition, may need updating.

Photo via Blushots

Michael Douglas in Fatal Attraction.

The Academy Awards will take place this coming Sunday, and in honor of Hollywood's biggest night, we thought we'd give some recognition to eight movies that capture the New York City real estate experience....

Rosemary's Baby

Most people would sell their soul to live in the Dakota. Watch what happens when someone actually does.

When Harry Met Sally 

Sally: "At least I got the apartment."

Harry:  "What's so hard about finding the apartment? You read the obituaries, go the building, and you tip the doorman..."

Single White Female

Think you have the worst roommate ever? Think again. If you are merely annoyed with your roommate as opposed to terrified, The Odd Couple might be a better choice for a night-in.

The price is right on this renovated & ready for the whole family $875k two-bedroom, two-bathroom prewar condo on the UWS.  It's a walk-up though, so prepare for stairs.

An Upper West Side apartment is a hot commodity for many New Yorkers with families. But a fully renovated one? Now, that's just crazy. This week, StreetEasy’s Most Wanted -- the 10 sales listings folks surfing StreetEasy saved more often than any other -- is all about family-sized prewar renovated abodes in the West 70s, 80s and 90s.

In a turn-of-the-century brownstone on 83rd Street between Columbus and Amsterdam Avenues, you’ll find a two-bedroom, two-bathroom condo on the market for $875k (pictured). Carrying costs are fairly reasonable at $456 for common charges and $715 for monthly taxes. The galley kitchen has been renovated with vintage green hard surface counters, frosted glass cabinet doors and stainless steel appliances, including a dishwasher. The south-facing apartment gets natural light and offers radiator heating, as well as three new through-wall a/c units.  The catch: It's a walk-up (several floors up, judging by the rooftop views) and laundry is two more flights up.

Photo Credit / Mr. T in DC

No New York City dinner party would be complete without tales of real estate/city living horror stories. Our new column, Only in New York, recounts these only-in-New-York experiences.

I was living in a fourth-floor walkup on York Avenue for about four years when one post-mani-pedicure wintry day, I entered the building wearing flip flops and gingerly holding my keys for fear my freshly done nails would smudge.  

I came upon what looked to be like a drug addict--he was disheveled, dirty and slumped over--sitting on the floor in front of the mailboxes.

He couldn’t get into the building because the main door was locked. He said he was staying on the third floor but forgot his keys, which I knew couldn’t be true because the third floor apartment had been empty for a week; the elderly woman who had lived there for 40 years just moved to Florida.

What to do?