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Old 03-10-2007, 02:22 PM
 
1,341 posts, read 4,310,880 times
Reputation: 575

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Well my brother is columbia dental school graduate..and pays 2500 a month in rent in the city, on the upper east side, no doorman...but he gave that up for a "true one bedroom". You would think that that on a Dr income its easy. NOT....how did he come up straight from residency and do the one month, brokers fee and then the rent (about 10k?)....my folks helped him out. And they wanted the usuals (letter verifiying his income, etc etc etc).

Anyway.....I am a stay at home mom, that tried and tried and tried to help him to get into a "no fee"..they were all pretty gross looking and to be honest with you, you can try and go direct to the apartment complexes to try and get out of the brokers fee..but you still will need at least 5-6k to at least start.

Any chance of a getting a roomie?
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Old 03-10-2007, 03:59 PM
 
1,241 posts, read 3,598,329 times
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Quote:
Originally Posted by mom2gurls View Post
Well my brother is columbia dental school graduate..and pays 2500 a month in rent in the city, on the upper east side, no doorman...but he gave that up for a "true one bedroom". You would think that that on a Dr income its easy. NOT....how did he come up straight from residency and do the one month, brokers fee and then the rent (about 10k?)....my folks helped him out. And they wanted the usuals (letter verifiying his income, etc etc etc).

Anyway.....I am a stay at home mom, that tried and tried and tried to help him to get into a "no fee"..they were all pretty gross looking and to be honest with you, you can try and go direct to the apartment complexes to try and get out of the brokers fee..but you still will need at least 5-6k to at least start.

Any chance of a getting a roomie?
No fee is very rare and usually only in new high rise rental buildings that are being constructed. If you can afford $3,000 for a studio then you can rent one of these 'no fee' apartments.

Also, most of the new/recent grads living in Manhattan (especially in all those high rise luxury condos in Murray Hill & the Upper East Side) have parents who guarantee or pay the rent in entirety along with a garage space for their BMW , Mercedes or Saab.

Think about it, how does one qualify on an $80,000 a year salary right out of school?? They by no means are 'slumming it' as some like to believe.

From what I understand, both the sale & rental market in the NYC area & the suburbs are still very tight with record low vacancy levels. It is completely different outside the NYC metro area where prices are stagnating and vacancy rates are at record levels.
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Old 03-10-2007, 04:53 PM
 
500 posts, read 2,671,868 times
Reputation: 326
Man, this Nick is one annoying Manhattan-hater.

Are you in a competition with yourself to post the same thought as much as you can?

In four months I've been writing here, you've repeated the "$3,000 studios" and the "rich kids with rent paid by the parents" at least 30 times.

First, it is not true. Second, we get your idea. Third, get over yourself.

And four: you don't even live in New York City! You're two states away!

So how about letting actual New Yorkers and Manhattanites give real, non-fictitious advice?

Thank you.
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Old 03-10-2007, 06:26 PM
 
48 posts, read 440,231 times
Reputation: 55
Quote:
Originally Posted by lammius View Post
Hey guys, I'm a New Jersey resident, considering a job change and a lifestyle change that will bring me to New York. I love Brooklyn and Queens, but I want to have the Manhattan experience for awhile and be within reasonable travel time/distance of friends, fam, and some remaining work in Jersey. I'm starting to browse listings to get an idea of what rents are in certain neighborhoods. I'm 24 years old, single, and am looking for an alcove/loft studio or small 1-BR for $1700 or less. I'm not going to move until July, but want to start educating myself early.

ANYWAY, $1700 is no problem to shell out every month for rent. My problem is that broker fees seem to be ridiculous in Manhattan! In Jersey the largest fee you'll find is 1 month's rent. In NYC I see a lot of "15% annual rent." On a $1700 place that's $3060 for the fee! Tack on 1.5 mo security deposit and first month rent, and I'd need to front $7310 just to move in?!?! How can that be right? I don't have that kind of stuff saved. I wasn't planning on making a down payment on a mortgage here.

So my question... Does anyone have recommendations on specific brokers who are reputedly more reasonable? Has anyone had a wonderful experience with a broker who was relatively inexpensive? Better yet, apart from craigslist which is at the same time a great and horrible source, can anyone recommend a good way to find broker-free apartments in Manhattan?

If this topic has been discussed in the past, I apologize. I looked back a few pages and didn't see anything. I'd appreciate your help!


Edit: Ooops, I thought I was posting in the NYC subforum, but obviously I didn't. Can an admin move this?
Use rent-direct its only about 150 bucks and you'll get most of the listings the brokers have
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Old 03-10-2007, 07:07 PM
 
480 posts, read 2,610,059 times
Reputation: 167
LOL

Good point! Nick is in competition to post the same thing in as many variations as he can before someone notices. Funny thing is that everyone noticed months ago, yet he still posts. He has a complex complex.

Quote:
Originally Posted by Manhattan-ite View Post
Man, this Nick is one annoying Manhattan-hater.

Are you in a competition with yourself to post the same thought as much as you can?

In four months I've been writing here, you've repeated the "$3,000 studios" and the "rich kids with rent paid by the parents" at least 30 times.

First, it is not true. Second, we get your idea. Third, get over yourself.

And four: you don't even live in New York City! You're two states away!

So how about letting actual New Yorkers and Manhattanites give real, non-fictitious advice?

Thank you.
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Old 03-11-2007, 09:05 AM
 
1,341 posts, read 4,310,880 times
Reputation: 575
I find it amazing that people ask for opinions and advice, and then get preturbed because they dont get to hear what they want. You are talking about brokers fee, yes its expensive.

If you are willing to put in some legwork, try rent-direct, spend a couple of weekends in the city and just get a flavor of what you want. Its going to be expensive. There is no doubt. I am not saying that the recent grads are slumming it at all. Its ones choice to live within their means or beyond it. But dont hate the player, hate the game. I am sure that you could find something for less, but dont complain on the location. I think its the price you pay for living in the city.

As fars playing the rich kid card...get over it. I dont hear violins in the background. I was just relating a personal experience that even with a stellar job, and solid credentials, we still needed to turn to family for assistance to come up with the fees. There is nothing wrong with that. And just to make you even more preturbed (LOL)....my brother gave his "beemer" to my dad, because he didnt want a car in thecity, and didnt want to pay for the insurance. His lease came up and turned it in, simply because he didnt want the hassle nor the headache.

On the turn side, you can choose the carolinas where everyone seems to be heading and get a great condo as well. I think when you live in city, you have to give up a little to take advantage of the city life. Just my 2 1/2 cents.
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Old 03-11-2007, 07:49 PM
 
Location: Bronx, NY
9,832 posts, read 21,495,289 times
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I ran into the same problem recently looking for a place. I was hoping to find a place in Harlem or Washington Heights but the fees are just too much. I think it is pretty ridiculous. It is impossible to find a place in Manhattan without paying a broker's fee!

I found a place in Fordham, in the Bronx. Which is an up-and-coming neighborhood by the way and still affordable, and I didn't have to pay a fee. Lucky me.
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Old 03-29-2007, 02:00 PM
 
4 posts, read 11,832 times
Reputation: 12
Default Re: broker's fee

I'm a little late to the thread, but wanted to advise: Search in Craigslist's "by-owner" section only. It takes some patience but you'll save yourself a lot of headache. $1700 really should get you a good-sized place in some of Manhattan's more "up-and-coming" neighborhoods (When I first moved here, I got a place through a no-fee broker in the Sugar Hill area of Harlem, lived there for 3 years and paid about $1200 for a very spacious, pretty 1-bedroom with neat pre-war details. On the downside, it was really noisy, there wasn't much to do in the neighborhood, and my apartment was bordered on two sides by peeping toms). $1700 will also get you a closet-sized studio in neighborhoods like the LES, Hell's Kitchen, maybe Gramercy. It just depends on what's most important to you -- at that price, you can get a nice-sized apartment, or you can get a trendy/fun neighborhood. But not both.

Also, don't underestimate the joy of roommates! And don't totally rule out the outer boroughs, I've been in Brooklyn for the past year and it's awesome.
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Old 03-29-2007, 07:49 PM
 
122 posts, read 737,014 times
Reputation: 77
Yeah, Craigslist is the toast of the town.

But ever try the.....newspaper? Craigslist is so popular, I wouldn't even be surprised if more people used that than publications (many of which are free)!
Now here's the part where someone shows up with a statistic on Craigslist and newspaper classifieds and proves me wrong.
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Old 03-29-2007, 08:32 PM
 
1,241 posts, read 3,598,329 times
Reputation: 851
Quote:
Originally Posted by maxbeckmann View Post
I'm a little late to the thread, but wanted to advise: Search in Craigslist's "by-owner" section only. It takes some patience but you'll save yourself a lot of headache. $1700 really should get you a good-sized place in some of Manhattan's more "up-and-coming" neighborhoods (When I first moved here, I got a place through a no-fee broker in the Sugar Hill area of Harlem, lived there for 3 years and paid about $1200 for a very spacious, pretty 1-bedroom with neat pre-war details. On the downside, it was really noisy, there wasn't much to do in the neighborhood, and my apartment was bordered on two sides by peeping toms). $1700 will also get you a closet-sized studio in neighborhoods like the LES, Hell's Kitchen, maybe Gramercy. It just depends on what's most important to you -- at that price, you can get a nice-sized apartment, or you can get a trendy/fun neighborhood. But not both.

Also, don't underestimate the joy of roommates! And don't totally rule out the outer boroughs, I've been in Brooklyn for the past year and it's awesome.
Your advice is probably 4 years too late. Rents have already surged to over $2,000 in Harlem & Washington Heights. Next, Brooklyn is almost as expensive as Manhattan unless you are talking about East NY, Canarsie, East Flatbush, or maybe Bay Ridge. Only parts of Queens maybe near the Belt Parkway & near the Nassau Border are somewhat affordable. Unless you are talking about that '$1,700 studio' in most of Brooklyn or Queens at todays market rate rents.

Next, in todays real estate market it is nearly impossible to find an apartment in Manhattan without paying that 15% brokers fee and going thru an application process with additional fees and paperwork that would seem like you are applying for a mortgage. The only way to find an apartment is to be making in the six figures or be extremely wealthy.
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