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
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
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.
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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
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
Hello Anthony,
I am not only a Westchester Realtor, I also live in Trump Plaza New Rochelle which is the sister building to the White Plains building. I know the players and would be happy to help you with your purchase or rental. We also have available apartments in Trump Plaza New Rochelle.
Please contact me to discuss your requirements in detail.
I look forward to working with you.... more
Oma,
That's a very interesting question. There was a time when above 86th St. was not as desirable as below. However, the 90s are just as acceptable these days with only a small price differential. BUt when you come to being on Central Park, that difference fades. Being on the park adds a premium like no other. There are all kinds of factors that go into pricing which make no two apartments ever exactly comparable. So better views, better flow to the floor plan, more upgrades could make a 92nd St. park apartment more than one that rates less on these variables and is in the 70s or 80s.
If you are thinking of making such a purchase, I would strongly advise you work with a skilled, experienced agent to guide you through and get you the best terms and price.
Best,
Jenet Levy
Halstead Property, LLC
jlevy@halstead.com
212 381-4268
http://jenetlevy.halstead.com for all NYC listings... more
I would say that any property with tax abaitment, safe area and has views ( Any Park or River Views) and close to transportation is hot place, specially Condominiums that are very demanding e traditional Coops.For me there is many area, but the product is is the key.
If you have any questions, please contact 917-378-9673 Vera.... more
it is important to lay out your criteria of what is important in your new home: location, proximity to parks, stores, work; type of the building, new development or an older building, level of amenities; size of the apartment, light, level of appliances, etc. and then narrow down your search by the most desirable locations, etc... Also, the type of ownership, the budget and allowable amount of financing should be the first things to determine when looking for a home.
Where to start looking - all of the above should work but on line is probably the most efficient way these days.... more
CC also vary based on the number of units in the building - I live in the building with 700+ units and our common charges are surprisingly low - I pay $320 for a 480Sf alcove studio apartment right by Columbus Circle plus tax, of course.... more
If you want a number, I can say $50/psf but as Anna mentioned it depends on exactly where, type of use, class of building and several other factors.
If you'd like more specific information feel free to contact me.
Thanks, Arthur "Ungie" Golden | Licensed Real Estate Associate| REBNY Member Prudential Douglas Elliman |
Commercial/Residential Sales and Leasing Services
1995 Broadway, 4th Fl | New York, NY 10023 C: 212.866.8717| P: 212.712.6078| F: 646.497.5476 | E: agolden@elliman.com http://www.elliman.com/aug Top 10 Broker December... more