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2600 IS cheap for a 2 bedroom in NYC. Compare that to ownership costs in one the city's better neighborhoods. You can't get anything decent for under $800K (mainly coop) and most of the "good" (condo/homes) stock is well over $1MM. I'm currently looking for a 2 bedroom condo in Park Slope/downtown BK area. Anything decent around 1.5MM. The payment alone on a $1MM mortgage is $5K/month. Add another 2-3K/month for HOA/taxes.
Even in "average" neighborhoods in NYC, coops will run you $500K and condos/homes $800K-$1MM. Then add another 30-50% on top for property taxes/maintenance. Renting RS apartments are still very cheap.
Personally, I wouldn't touch a coop with a 10ft pole. I'd rather pay $500K extra than have some senile *******s who bought 40 years ago for peanuts tell me what I can or can't do and embezzle /throw away money. Of course there are great coop boards but I don't feel like playing the lottery.
You don't know what you're talking about. $2600 for a two bedroom is the norm in most good neighborhoods outside of Manhattan and even in areas like Hudson Heights.
You don't know what you're talking about. $2600 for a two bedroom is the norm in most good neighborhoods outside of Manhattan and even in areas like Hudson Heights.
Yep that is the going price in most buildings in the area ….
This is in our building
Model 1A
$2,200 – $2,250
1 bed, 1 bath, 575 – 640 sq ft
12 Month Lease, Available Now
Model 1B
$2,300 – $2,350
1 bed, 1 bath, 670 – 778 sq ft
12 Month Lease, Available Now
Model 2A
$2,500 – $2,600
2 beds, 1 bath, 825 – 900 sq ft
12 Month Lease, Available Now
We have a model 2b which is 2 bed and 2 bath
Pool , tennis and parking are extra
Single family homes in comparison start at 7 figures here while an equal in a coop apartment is about 475k and 1500-1600 a month maintenance
You don't know what you're talking about. $2600 for a two bedroom is the norm in most good neighborhoods outside of Manhattan and even in areas like Hudson Heights.
It's cheap relative to purchasing. "Good" is subjective depending on ones needs.
You don't know what you're talking about. $2600 for a two bedroom is the norm in most good neighborhoods outside of Manhattan and even in areas like Hudson Heights.
Quote:
Originally Posted by mathjak107
Yep that is the going price in most buildings in the area ….
This is in our building
Model 1A
$2,200 – $2,250
1 bed, 1 bath, 575 – 640 sq ft
12 Month Lease, Available Now
Model 1B
$2,300 – $2,350
1 bed, 1 bath, 670 – 778 sq ft
12 Month Lease, Available Now
Model 2A
$2,500 – $2,600
2 beds, 1 bath, 825 – 900 sq ft
12 Month Lease, Available Now
We have a model 2b which is 2 bed and 2 bath
Pool , tennis and parking are extra
Single family homes in comparison start at 7 figures here while an equal in a coop apartment is about 475k and 1500-1600 a month maintenance
I like Bay Terrace (and the Queens areas bordering LI) but they're just too inconvenient for my needs currently.
We drive wherever we need to go and rarely go to manhattan so it is fine for us .
But not having an eastern spur on the LIRR OR A SUBWAY can make it tough for some.
The LIRR TO MANHATTAN can be expensive for someone commuting .
But we like it here ….the restaurants , parks and everything we need is all local to us .
We live opposite the shopping center …
I run the cross island path all the time .
In fact met my wife 22 years ago when I was roller blading at the cross island path and fell when what I thought was the shadow of a tree across the path was actually a chain and someone pulled the waste basket which was chained to the bench in to the path .
She was jogging from the other side so I stopped looking at her , looked down ,saw the chain , tried to jump it and fell …
I got all cut up , she stopped to help and the rest is history
We have no desire to be anywhere else .
If we did relocate it would be to hartsdale in westchester
This I agree on. Nobody should be trucking along in an RS apartment thinking this situation will last forever.
It's been going on for > 70 years in one form or another. Democrats doubled down on things in 2019 and made RS permanent unless, when or if vacancy rate reaches 5%. Until such time there is still a housing "emergency", and Albany will never let go of regulation, period and case closed.
Republicans managed to get vacancy and luxury decontrol passed, and you see how fast once democrats got into majority that vanished.
If anything new RS laws opened up the floor to higher income households to have some skin in game. So now any idea of removing RS even for only upper income tenants just won't fly.
I like Bay Terrace (and the Queens areas bordering LI) but they're just too inconvenient for my needs currently.
I live in a similar area. Totally fine with the express bus from Bay Terrace and the railroad into Manhattan.
It can be tricky if you don't have a car there, but most people drive. For those who don't, there are the City buses to get around too.
Quote:
Originally Posted by mathjak107
We drive wherever we need to go and rarely go to manhattan so it is fine for us .
But not having an eastern spur on the LIRR OR A SUBWAY can make it tough for some.
The LIRR TO MANHATTAN can be expensive for someone commuting .
But we like it here ….the restaurants , parks and everything we need is all local to us .
We live opposite the shopping center …
I run the cross island path all the time .
In fact met my wife 22 years ago when I was roller blading at the cross island path and fell when what I thought was the shadow of a tree across the path was actually a chain and someone pulled the waste basket which was chained to the bench in to the path .
She was jogging from the other side so I stopped looking at her , looked down ,saw the chain , tried to jump it and fell …
I got all cut up , she stopped to help and the rest is history
We have no desire to be anywhere else .
If we did relocate it would be to hartsdale in westchester
Bay Terrace is nice. Several co-ops there that I'm familiar with. Housing stock is not as appealing though. I prefer Little Neck and Douglaston for that reason.
I live in a similar area. Totally fine with the express bus from Bay Terrace and the railroad into Manhattan.
It can be tricky if you don't have a car there, but most people drive. For those who don't, there are the City buses to get around too.
Bay Terrace is nice. Several co-ops there that I'm familiar with. Housing stock is not as appealing though. I prefer Little Neck and Douglaston for that reason.
My drum studio is in little neck. Lots of good places to eat .
I really like the new one sweet wonton .
When my wife baby sits I go across the street to moo shoo duck and get half a duck .
Those hanging ducks are sooooo good ….also mommas touch has fantastic fried chicken sandwiches..
You can see I spend a lot of time in little neck
Last edited by mathjak107; 04-18-2022 at 10:29 AM..
What's silly is you assuming that someone living in a rent stabilized apartment is poor and unable to afford high rents. Plenty of people with incomes over $100,000 live in apartments that aren't market rate. My ex lives in such housing and makes well over $100,000 a year. If you win a housing lottery, there are different ranges. Her rent was $2,100 a month a few years ago.
I'm in the same position your ex is in. I used to pay only 1300 for a one bedroom 700 sqft apartment. But I lived in that apartment for a very long time as I didn't want to spend all of my disposable income on rent.
The people making over six figures who complain about a rent stabilized increase do so because they are saddled with student loan and other debt.
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