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Old 02-01-2016, 01:21 PM
 
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Damn you really can't win in NYC anymore

I remember only about 3 years year ago, I did a project in school about and I looked at Apartments in the Bronx, I remember there being many 1 BRs in The Bronx for around $850 per month, now the cheapest I can find is $1150 per month. That increase totally outpaced inflation, which is crazy since none of the neighborhoods I looked at are trendy.

But here OP, this studio is only 2 blocks away from the 6 train station and it's $925 per month

Manor Ave, Bronx, NY 10472 | Zillow
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Old 02-01-2016, 04:01 PM
 
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Originally Posted by Henna View Post
Good luck with that. The studios I'm seeing listed in Jackson Heights lately are $1400 to $1600. I suppose there might be some basement (illegal) studios for $1200 somewhere listed for "Jackson Heights" that are actually in East Elmhurst or Corona. But I highly doubt you'll find anything for $1000. But hey, doesn't hurt to try.

p.S. just checked craigslist for apartments in Jackson Heights for anything between $1000 and $1700. There are only 6 listed, and they start at $1500. There is only one studio listed and it's $1550. new york all apartments "jackson" - craigslist
A friend of mine who jointly (with his brother as they inherited the building from their parents) owns a building in Jackson Heights with 5 apts. (and they are all legal) recently rented out a 2nd floor one bedroom apt. for $1200. My point being there are a few good apts. for cheaper rents but the OP has to make an effort to find them.
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Old 02-01-2016, 08:16 PM
 
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Originally Posted by Chava61 View Post
A friend of mine who jointly (with his brother as they inherited the building from their parents) owns a building in Jackson Heights with 5 apts. (and they are all legal) recently rented out a 2nd floor one bedroom apt. for $1200. My point being there are a few good apts. for cheaper rents but the OP has to make an effort to find them.
And my point is that it makes sense to know an area's current market rents so you can understand the difficulty of the search. If market rent for a studio in a large building is $1400 to $1600, then looking for a $1000 studio in the same exact area is like looking for a needle in a haystack.

I'm not saying there aren't landlords around who don't know (for some reason) the market value of their units, or maybe they have another reason for renting at below-market, like maybe it's a rent stablized building and the previous tenant was there for such a long time the rent was very low and couldn't be raised up to what are current market rates.

Maybe your friend's building is not in what I consider to be Jackson Heights but is actually in East Elmhurst near Laguardia airport (different people have different opinions on what constitutes Jackson Heights). In any case if the unit is very far from the train, like out on Astoria Blvd, then it's going to have a lower market value than one in true Jackson Heights, which I consider to be south of Northern Blvd.
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Old 02-01-2016, 09:27 PM
 
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Saw these today



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Old 02-02-2016, 05:56 AM
 
40,745 posts, read 40,642,710 times
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Quote:
Originally Posted by Henna View Post
And my point is that it makes sense to know an area's current market rents so you can understand the difficulty of the search. If market rent for a studio in a large building is $1400 to $1600, then looking for a $1000 studio in the same exact area is like looking for a needle in a haystack.

I'm not saying there aren't landlords around who don't know (for some reason) the market value of their units, or maybe they have another reason for renting at below-market, like maybe it's a rent stablized building and the previous tenant was there for such a long time the rent was very low and couldn't be raised up to what are current market rates.

Maybe your friend's building is not in what I consider to be Jackson Heights but is actually in East Elmhurst near Laguardia airport (different people have different opinions on what constitutes Jackson Heights). In any case if the unit is very far from the train, like out on Astoria Blvd, then it's going to have a lower market value than one in true Jackson Heights, which I consider to be south of Northern Blvd.
My friend (and his brother co-owner) were willing to give the tenant a break in the rent on the condition that the tenant shovels the snow for the property (which was the same with the tenant that vacated this particular apt.). BTW since there are only 5 units in the building it does not fall under rent stabilization laws but it is in Jackson Heights proper one block over from the so-called Historic District of Jackson Heights (& it is Jackson Heights and not East Elmhurst!).
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Old 02-02-2016, 07:42 AM
 
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Yes there are places in Brooklyn you can still rent a studio for 1K. And yes someone would approve you if you've had no issues in the past.
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Old 06-18-2016, 09:32 PM
 
Location: NYC
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Quote:
Originally Posted by wawaweewa View Post
The 40x rule is not set in stone. It may be strongly enforced in high demand areas of Manhattan, Brooklyn, and Queens but its not enforced across the board in other areas.
If you're 35x, they'll still rent to you if your credit is fine along with no housing court record.

For example, when I rented my apartment in the Bronx I was around 37X and less than a year back from taking off a year from work (no income) and living in another country. I rented from a major, legit management corp as well.

I just submitted my pay stubs, letter from employer, and credit check and was approved without a problem. Thankfully, I received a raise shortly thereafter and now am at about 45X but there's no way they even though of that.

If the 40x rule was set in stone, there'd be a lot more vacant apartments in NYC. The 40x rule is enforced when there's a lot of demand and the management coimpany can be picky. Then, it's just another sorting tool.



Correct, I second this!
Therefore it is always better to rent directly from the owner, you can better negotiate and compromise with the owner than going through a management company that is much more rigid and stricter.
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Old 06-18-2016, 10:05 PM
 
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Originally Posted by Japanfan1986 View Post
I definitely am Any places you'd suggest?

Ideally I'd prefer Manhattan or Brooklyn. Hence why I'm REALLY hoping to get more than 40K when I drop down to just one job. I know a studio for 40K in Manhattan or Brooklyn is impossible these days. Although I am intrigued by what the lowest you could get a studio for Manhattan is outside of Inwood and Harlem. Not saying I wouldn't consider Inwood or Harlem (I used to live in Harlem), but am curious about the areas I'm less familiar with.
You may be able to find a studio apartment in Southern Brooklyn for about $1000.
For sure you could find an apartment in a basement for $1000 or less.
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Old 06-24-2016, 12:56 PM
 
Location: Manhattan
24,758 posts, read 34,743,211 times
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Walk the streets, take numbers for the managers or owners of buildings you can tolerate and call them directly.


Here's a peek at the Jamaica area:
Queens Apartments for Rent | StreetEasy
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Old 06-24-2016, 01:18 PM
 
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Originally Posted by Japanfan1986 View Post
I know it used to be, but I think those days maybe dead. Except in Staten Island.

Right now I make over 60k a year, but that's with two jobs. Thinking of dropping down and just getting one higher paying one. 40k is the absolute lowest I'd settle for, but I think even that's too low.
find a roommate, it's a bit of a sacrifice but can easily be done at $1000/month in prime locations. there are alot of lonely new yorkers who will rent out a room.
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