The most difficult part of New York City apartment hunting is getting started. I drifted towards anything that seemed like it would take steps out of my search because how was I supposed to know what I don’t know about? “No-fee” sounds like heaven with a hyphen. [Read more →]
Well, it’s almost junior year and that means that I will officially have the least preference in NYU’s housing placement (sophomores receive the highest, then seniors). It also means that if I stay in “on-campus” housing, I am likely to end up a significant distance away from campus while still paying exorbitant amounts. Lafayette Hall (which holds the title for most inconvenient commute) works out to be a little over $2,000 a month and that’s for a “shared bedroom.” Sadly, this crippling figure is the accepted norm for junior residence hall prices even if you are lucky enough to dodge the Lafayette bullet and get into Carlyle, Coral, Greenwich Hotel, Gramercy, Palladium, or U-Hall.
But I don’t want half a room for $2,000 a month. I want a quality space to myself– a place that I feel a connection to; a place where I may hang my hat without my coat rack being indicted as a fire hazard; a place that I have thought deeply about and am proud to show to friends and family.
Curious how median rents and sale prices have changed over time?
Here’s one simple chart, based on one of the leading data sources, that shows the trend over time for median sales prices and median rent prices in Manhattan. For buyers, the median price continues to gradually decrease, but for renters, the trend is not your friend. Rents are high and increasing quickly, although they’re still not quite where they were before “The Great Recession.” Thanks to Miller, Samuel Inc. for the data.
And for you data buffs that want to explore the relative changes between sales and rentals, here’s another way of looking at the data with different scaled y-axis.
Betty’s moving from Ossining to Rye; Don’s getting hitched (and so looking to upgrade from his West Village man-cave). Like its characters, Mad Men’s real estate is in flux. So, Mad Pads; a look back, a look ahead.
Miron Properties produced a great video describing the basics of getting your rental — how much income you need to qualify, what a guarantor is, the paperwork required and a lot more. Check it out. There’s cartoon doodling! [Read more →]
Irritated that so many apartments are advertised with stock photos? You’re not alone. When surveyed, 65% of renters on Naked Apartments said they find stock photos annoying. One renter voiced their frustration by writing in; “I never trust that they’re actually representative of the apartment and usually end up ignoring the listing.” Another renter wrote; “They are generally in better shape than the actual apartment ”.
Wait a minute, is that the actual apartment?
Welcome to the world of stock photos, from which there is no escape. What are they? Stock photos are professional pictures that a landlord provides real estate agents, in order to control how their apartments are marketed on leading sites like Naked Apartments. They’re rarely of the actual unit up for rent, but are considered to be ‘representative’ of what an apartment looks like. While more aesthetically pleasing than pictures taken with an agent’s digital camera or cell phone, whether they serve their purpose of attracting more tenants, is questionable. [Read more →]
A 450 square foot studio Manhattan apartment, purchased for $235,000 in 2005, becomes an amazing unfolding space. Total construction cost for the upgrade: $70,000. [Read more →]
This morning we launched a new version of the page with full details and images for each apartment listing. Most importantly, this latest design allows for bigger pictures, is easy to scan and doesn’t overwhelm with nonessential info. To get a sense of how this page has evolved over time, here are various snapshots all the way back to our “early days” in 2010. Our page is all grown-up! [Read more →]
Now this is a cool concept that we just had to share. A boutique NYC broker gives renters a gift of an iPad, a 42″ LCD TV, or a $500 gift card, just for renting a $2,500+ apartment through them. That’s one generous apartment-warming gift.
[Read more →]