nyc
andrea
::19 apr 2007 :: 07:28am
this is late…but i got swept up in the excitement and never found a moment to reflect and post.
we finally know where we are heading. new york city. i am overwhelmed and very excited. it isn't the way i thought life would be right now (a house with a yard), but that is awesome too. we are moving up in august. jason starts work a week later. we have so much to work out. where to live for one. with that said i would love some help from the nyc, and former nyc, mogers. i need advice on how to find a place. jason is working in midtown. he is fixated on living on the upper west side. but we will see, i am open to suggestions. he called a broker today and the guy quoted him a fee of 15% of our annual rental. so on a $4000 a month place we pay $7200…i am still in shock. is this normal? i refuse, at the moment, to accept this fact. there must be a better, read as cheaper, way. craigslist? other broker? help!!
i am off to atlanta for my sister's wedding. we are driving down. me, finley, my father, and step mother. it is a ten hour drive that will take us a lot longer with a ten month old. i am hoping for the best…long naps and lots of calm.
Good luck with finding a place…Very challenging in NYC. We found a broker really is necessary unless you have a lot of time for hunting or are lucky and find something suitable on Craigslist.
Upper West Side is very expensive - as is Manhattan in general…That is why so many Manhattan workers live in the outer boroughs, especially Brooklyn. I have lived in Brooklyn and the West Village - nothing beats the Village (and it's crazy expensive) but Brooklyn really is great. MOGger Bitzao lives there now actually and Petunia used to.
As far as Manhattan, I would suggest looking at the East Side (50's-80's around 2nd Ave).
Oh - and about Broker fees…15% is standard. You can sometimes get them talked down to 12%.
Here's my broker story…Got a suggestion from a friend, took broker forever to call me back. When he did, he told me about 1 apartment that wasn't on the market yet but he knew the building owners and had 'first dibs.' I got him to give me a 10% fee, but that is because he did nothing except tell me about that place…I called to arrange viewing and did all the leg work myself. I talked to him once on the phone and once in person. He earned the 10% just for knowing about the apartment - but it really was the perfect place for us, we loved it and never would have gotten it on our own.
I don't have his name anymore or I'd pass it along to you.
How is 15% equal to an additional $3200 a month? $4000 + (4000 * .15) = $4600. Am I missing something?
I lived in North Jersey (Hackensack) - 20 minutes or so to Columbus Circle if the bridge is traveling along.
My brother lives in Harlem, a very nice place actually. $1700/ month for a decent-sized two bedroom. He works right around the corner from the new Apple store at the south end of the Park. He says it takes him 15 minutes to get there on his bike.
Welcome to NY. Hunting for an apartment is a nightmare, but it's not insurmountable. Search on craigslist, just about every apartment will be listed through a broker 12-15% annual rent is normal, but remember everything is negotiable. Brokers love renting to out of towners because they're easy to rip off. You need to have a good mix of aggressive haggling and a realistic view of the market.
So if you're considering a market rate apartment work to cut the brokers fee. If by some miracle you find something rent-stabilized don't worry about the brokers fee and be ready to entertain the idea of paying the broker a kickback. If you can save money on the monthly rent a couple grand of bribe money is well spent.
By the way all the above math is off. For a $4,000 a month place you're looking at:
$4,000 first month
$4,000 security deposit
$3,200 brokers fee figuring 15% of annual rent
$11,200 total for your first month
If at all possible I reccomend finding someone you can crash with in the city for a couple weeks during which time you'll do nothing but see apartments and explore neighborhoods. You can save an enormous amount of money by living in the outerboroughs and still be within a short commute of midtown. Brookyn Heights, Dumbo, Park Slope are all beautiful neighborhoods that are full of nice bars and restaurants while still a short commute.
Not trying to talk you out of the UWS, I lived there for a year a half and loved every minute of it (I still yearn for fairway), but it's a tough nut to crack financially. Good luck with the hunt and don't let the brokers intimidate you.
Ok, so I'm not wrong. The math was wrong.
Oh, I def wasn't saying the math was right…I am sorely lacking with the math, didn't even think about doing it myself actually. I just meant that the 15% is not an abnormal broker's fee.
We look forward to reading posts from your new pad - wherever it ends up being! Good luck.
i live in greenpoint, brooklyn and work in midtown. i pay 1800 for a one bedroom (but a couple could definitely live in my apt comfortably). my commute takes about 30 min door to door. so i would have to agree with the other new yorkers here and say definitely check out areas other than manhattan. 4K is pretty steep for an apt even in nyc. you could find a great place in brooklyn for under 2500. park slope is a great place to have a child in nyc and is an easy commute to the city. i used apts and lofts as a broker twice and have been very happy and would recommend them. check out aptsandlofts.com when you call, ask for alex gandelman, he was my broker and was great.
what!!! You are thinking of paying $4000 a month. You have a baby- you are not supposed to be smoking crack…
Seriously, get out of Manhattan and head to Brooklyn or even Wmsbg. My head is spinning from that amount! Anyways, hope you are doing well- I love checking up on you at this website!
LOVELOVELOVE!!!
and happy belated mom's day!