Unfortunately, or fortunatley (depending on which side of the market you are on ie renter vs landlord), the market has changed drastically in the last few years. Right now there is a less than 1% vacancy rate in NYC which means that apartments are in demand. High demand translates to an increase rent prices. Rental increases unless they are subsidized typically follow the trends in the market place.
You mentioned that you were told that your rent would only increase 10 dollars or so. I'm curious to know who told you that since unless it's specifically outlined in the lease and agreed upon by the landlord, it's not really binding.... more
Hi Kamwsha. Check your lease to see if you are rent stabilized or free market rent. If you are stabilized the increase can only be the percentage allowed by the rent stabilization board. If you feel something is going on, perhaps this can help:
http://www.housingnyc.com/html/resources/attygenguide.html
Chck the links under RENT. There are a bunch of options and I would think you can get a better grip on your situation after a little research. Good luck.... more
So all that great vibe that came out of the G8 Summit from last weekend regarding the backing of Greece staying in the EU, well let’s just forget that it even happened. Let’s just chalk it up as a
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If looking to buy/sell work with an agent of your own who can provide comps, recently sold similar properties in the immediate area, and other necessary information, see what the data suggests and go from there....... more
Usualy there is more room to negotiate the rent when the rental market is weak. Current market for rentals in New York and especially in Manhattan is very strong with less than 1% vacancy, and is becoming more pro-land lord now. If your apartment has free market rent and is not rent stabilized, the owner can increase the rent every year to what he believes is the market rent. I am not sure if your neighbors negotiated their rents this year or couple years ago. If it was just recently - ask them what arguments they used with the management to reduce their rent increase that worked and may be you can use the same. However now apartments rent really fast and many times there is more than one person applying for the same apartment.... more
We are starting off the week pretty much unchanged in the bond markets as the 10yr is sitting comfortably at 1.73%. With a light economic calendar today, I do not expect much volatility and expect the
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Hi Sue,
Not at this moment. So now would be a great time to buy.
--
Patricia Saada
BSD Equities
174 Fifth Avenue #301
New York, NY 10010
Office: (212) 367-7200 Ext.18
Cell: (646) 269-4942
Patricia@bsdequities.com
www.bsdequities.com... more
"Sellers will often accept an all-cash purchase offer over a higher priced offer with conventional or FHA loan financing. That's because they know the cash offer is more likely to close. It involves fewer stumbling blocks. And sometimes a bird in the hand is worth two in the bush, so to speak." No Contingency Clauses in the Purchase and Sale Agreement is worth a major discount.
--
Thank you!
DOM PASCUAL, J.D., ESQ.
ASSOCIATE REAL ESTATE BROKER
Demsker Realty
"Your Experts in NYC Luxury Apartments & Lofts"
304 Park Avenue South
New York, NY 10010
Cell: (631) 741-2764
E-mail: dompascual@gmail.com
Company Website: http://demskerrealty.com/
Networking Manhattan: http://www.cityamicus.com
Blog: http://dompascual.wordpress.com/
Listings: http://dompascual.postlets.com/
Twitter: http://twitter.com/dompascualesq
Facebook Profiles: Dom Pascual; Manhattan Broker... more
A happy Friday to everyone and all-in-all it has been a good week in our world. The bond markets have had a steady grind towards lower rates even though we are starting the morning down from yesterday’s
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(Image courtesy of Dave Granlund)We are starting off this Wednesday with a little bit of a relief trade reversal…relief if you are a stock trader. The Dow has fallen almost 700 points from its most recent
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Keep in mind that square footage costs do vary, and doesn't account for location and other considerations such as usage, etc.; therefore, it's really in your best interest to also review a comparative analysis....... more
One needs to also consider if the apartment is in the front of the building or in the back of the building. This will make a difference during construction. Also once the train is operational can you hear and/or feel the train go by. One added bonus is that they added the M15 Express buses up 1st Ave and down 2nd Ave to compensate for the delay with project.... more
So we take a week off from this little wealth of information that we provide due to the Secondary Conference as well as me just getting back into the groove and now we see that the world is coming to an
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By VIVIAN S. TOY, Published in NYT: May 4, 2012FOR as long as there have been condominiums, there have been investors hoping to make an easy profit off an apartment here or there.THE MATHFabrizio Uberti
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Beggars cannot be choosers in today’s market, especially those looking to invest in the city’s commercial real estate. Inventory levels are low and prices have hit an all-time high, as potential buyers
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Top ten reasons to invest in New York real estate 1. High Appreciation - Over the last ten years New York real estate appreciated 234.7% - much more than most other real estate markets in the world. Even
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