Renters Delight In (Finally) Getting Good Deals

The NY Times' real estate section's big feature is about the very nice deals renters are finding these days. Not only are renters trying to downsize to save money (one couple moved to a slightly smaller place to save $600/month), sometimes they're able to trade up AND pay less. For instance, there's a woman who, when she couldn't find a decent Lower East Side in her budget last year, moved to a Midtown studio—that smells of burgers—for $1,800/month; now, after her landlord refused to lower the rent, she found a bigger LES one-bedroom for $1,700/month—with no burger smell! Of course, a Citi Habitats broker admits, "Probably somebody who’s relocating would still be surprised today: ‘This is the size of apartment I get for this price?’ But New Yorkers think this is great right now. Maybe you appreciate it more if you spend more time here." Photo: The Real Estate Group of NY, which finds rents are dropping in all Manhattan apt. types.

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By Jen Chung in News on March 29, 2009 3:55 PM

Comments [rss]

Tower18

When a market collapses, the first thing to be left empty is all the shit that was way overpriced in the first place, due to the boom. Hence, the market is flooded with those 200sqft studios that used to go for $2000.

AH

Some of these Manhattan prices are absurd! Living in the boroughs is the way to go. I live in Mott Haven and have twice the space for half the price!

valeriob

Two of my coworkers got a Two Bedroom, Two Bath w/ a view on 43rd off Broadway for $2,000 a month.

Two BR for 2k in Midtown? Wow.

grandeur

43rd and broadway is times square. Couldn't pay me to live there.

kedeady

The Times needs to get out there and actually look at the shit on the market. Prices are still insanely high. I looked at studios literally 200 sq feet, had a mini fridge, hot plate and sleep loft going to $1550 in the East Village. That is absurd. Priced are still inflated and deserve to drop further.

pipsy

I looked at 16 apartments in the past 2 days, and just because the market is flooded with lower-priced stock...doesn't mean it's not all crap.

Even less shockingly, the brokers/agents/owners/managers have gotten even more sheisty and desperate. They make you wait for them, they ask you 40 questions and think that is going to be fine before they will even give you the address of a place. They think that 2 bedroom means barley one bedroom and a burp off the hallway. They have literally no clue that they aren't in charge.

BOO!!!

NannyState

Exactly, they're not hurting enough. The old line goes: "the first one who makes money on a building is the third owner". Still lots of first and second owners ( post-gentrification ) out there. They will have to perish and the sooner, the better.

starrygordon

It's just as true the second time around.

I think it's funny the way the Times can always be counted upon to puff real estate, as if it were one of those cheesy suburban flyers on yellow paper.