Rents grew seven times faster than wages in NYC last year

… The rent is still too damn high and its growing faster than wages can keep up … from StreetEasy Asking rents in New York City grew seven times faster than average hourly wages did in Gotham from … an inexpensive or even cheap NYC rental apartment Bricks best advice   Or try to find a rentstabilized apartment to

By Celia Young |May 8, 2024 - 11:30AM
Are NYC sellers paying smaller commissions to buyer’s brokers?

… to be continuing to offer a full 3 percent commission to buyers brokers according to  our experts Commissions for … rules that went into effect January 1st Instead of a seller paying a 5 or 6 percent fee that would then be split between … deal work But an allcash buyer ended up with the prize … Why sellers felt emboldened … The lack of listings in …

By Jennifer White Karp |April 29, 2024 - 9:45AM
Bill shifting broker fees to landlords is back. So is the fight to pass it

… If at first you dont succeed try try again  It seems New York … passed last year The bill dubbed the Fairness in Apartment Rental Expenses Act would let renters off the hook for paying a brokers fee when the …

By Celia Young |March 5, 2024 - 10:36AM
Does a buyer in NYC need to pay a broker fee?

… The short answer is maybe because starting January 1st 2024 fees for brokers who are members of the Real Estate Board of New York are going to be decoupled The … is risky … REBNYs broker fee shift could in theory open the door to more dual agent deals If you have bought somewhere …

By Jennifer White Karp |December 28, 2023 - 11:30AM
City Council bill to shift broker fees to landlords unlikely to pass this year

… Keep your checkbooks open Thats the message for New York City renters … with tough elections next year Renting an apartment in NYC can feel a lot like a bidding warespecially when it … the annual rent Skyhigh fees have helped raise awareness of NYCs unique broker fee system but its not the first time …

By Celia Young |October 20, 2023 - 3:00PM
How much does it cost to move to NYC?

… a brief pandemic exodus people are returning here in droves for work school and all the things that make the city … creatives growing families and empty nesters alike High rents and sales prices are also indicative of the ongoing … your income doesnt pass muster or if you are a gig worker without a steady revenue stream youll need a cosigner …

By Evelyn Battaglia |October 17, 2023 - 10:00AM
Renewing your NYC lease and getting new roommates? You may have to shell out another broker fee

… For many renters who work with an agent to find an apartment in New York City once the lease is signed and the broker fee is paid they part ways and the … says they never heard of fees for a lease renewal Under what authority does the broker have the ability to take …

By Jennifer White Karp |August 31, 2023 - 5:00PM