Caught in a short-term housing crisis? The scoop from top agents on NYC's best kept secret

Share this Article

How much total do you plan to tip the building staff this year?

In a perfect world, the move from one home to the next happens in a single (if somewhat stressful) day. In New York City, myriad situations can derail a seamless transition: A lightning fast closing on the sale of an apartment, a lease that’s unexpectedly terminated, a delayed moving date, apartment renovations, a bad breakup—and sometimes just bad plumbing.

“I’ve had many clients who buy an apartment, decide to gut it before moving in and need a place to stay in the interim, or they ended up selling unexpectedly quickly and need a place to live until they found something to move into. I’ve even had clients who just wanted to try out a new neighborhood for six to nine months while they decided whether or not to buy there,” says Jamie Fedorko, a real estate agent with Warburg Realty. He’s currently working with a family of three in need of a furnished home for six to seven months while they renovate their apartment.

According to Fedorko, people requiring temporary housing in New York City tend to fall into two camps: Locals who need a place to hang their hats while they’re between apartments and out-of-state visitors and international travelers who are here for work-related purposes and aren’t in a position to sign full-year leases.

In her 29-year career in real estate, Lisa Rose, an agent at Halstead Property, has encountered both types, countless times: “I’ve worked with many international clients who needed a place to live while they searched for a home to buy and others who had to leave their own homes temporarily.” One couple, she recalls, returned from a winter in Florida to a find a burst pipe had destroyed the floors in their apartment forcing them out while they rebuilt. “Finding the right short-term housing can be challenging,” she says. “In a hotel, you get amenities but have to pay a tax. In a furnished rental, there may be no tax but you get fewer amenities.”

Indeed, in a city in which housing in general can be hard to come by, temporary housing is often less available and extremely expensive. “New York is a very transient city,” says Adam Gana, managing partner of Gana LLP, a law firm specializing in securities and real estate with offices in Manhattan and Chicago. “The city is so populated that there tend to be very few temporary housing options. Affordable short-term housing is near impossible to find.” 

So, what to do if everything’s been packed away and you have nowhere to go or you just need to get out fast? You could move in with folks or friends, check into that hotel or risk a Craigslist rental. Or you could check out a serviced apartment, also known as furnished temporary housing.

One such NY property is offering renters a furnished accommodation solution that suits their lifestyle and their emergency housing budget as well. Built in 1928, Beekman Tower is a historic building, located in the consulate district of Midtown East, offering apartments for 30+ days that range in size from one-room studios to family-sized homes. All feature generous floorplans, stunning views and modern amenities, including stainless steel kitchens and modern updated baths. What’s more, the pet- and family-friendly building boasts laundry facilities, a business center, bi-weekly housekeeping and a 24-hour fitness center.

Images courtesy of Beekman Tower at 49th and 1st

With no lease to sign or board approval to worry about, it’s easy to continue on with your life and forget the circumstances that may have driven you into temporary housing in the first place.

"You don’t want to miss an opportunity for a quick sale just because you’ll need a place to hang your hat for 30 days,” says Kevin Toomer of BridgeStreet Global Hospitality. “BridgeStreet’s temporary housing solutions in New York, allow you to move in any day of the month and without a security deposit. Our properties Beekman Tower, Centria and 1600 Broadway to name a few, all offer the comforts of home and the ease and service of a hotel. BridgeStreet properties provide a best-in-class, affordable solution for any individual or family in need of temporary housing in a pinch."

Image Courtesy of 1600 Broadway

Image courtesy of Centria at 18 West 48th Street

Beekman Tower is a spectacularly renovated Art Deco building offering short-term furnished rentals. Located on First Avenue and 49th Street, the building is centrally located but with a quiet residential feel, near parks, the United Nations, transportation, and countless city bars and restaurants.