My advice would be to move on and hire a buyer's agent for the next apartment. If you wanted the apartment rather than "following it" you should have made an offer when it was for sale when you saw it. If it sold a few weeks ago it was probably in play a couple of months ago.
Apartments are not stocks. Following it? What were you waiting for?
You snooze you lose. Now your chasing the market.
In my opinion you need to be alert, prepared, ready, willing and able to purchase next time you see an apartment you like. The market in Manhattan and Brooklyn is on fire and moves fast.
Bidding, bidding wars, highest and best offers are now the norm but they take place before the apartment is sold.
The Corcoran Group
Hi, I've played jazz flute for years and have been in several bands, including leading my own jazz fusion band. So I've known many, many musicians, including some who came to NYC with no money, no job, just wanting to be here for the music. You're not alone in your dream, and that's a helpful thing.
Here are some scenarios I know of: A drummer from Italy who rented a sofa to sleep on in a hallway, with access to a bathroom, for $275/month; a violinist who roomed with three other musicians, but she had her own alcove that she sectioned off with a curtain; a songwriter who lives in a basement in the suburbs for $650/month; a playwright who pays about $450/month for a room in Brooklyn that is so small, only his bed a few other things will fit. Sitting on the bed, his knees hit the door. There are internet sources for these room rentals (craig's list et al) but contacts are always the best way to go.
All of them would tell you it's tough. Some have used food pantries for a meal now and then. Some are living without health insurance. Some break the law once in awhile to get by.
The most common day job people have is in food service. You can work breakfast and lunch shifts, or only lunch, or only 4 days a week all day, and then hit the clubs and jam sessions at night and weekends. (I assume you play some instrument?). Janitor jobs you are unlikely to get, a lot of those are union jobs. Temp jobs are highly competitive right now; I know a guy with an ivy league B.S. degree who can't get one. Also, note most jam sessions happen Monday-Wednesday nights, but there are exceptions. Any job you have must fit around the music.
If I were you I would get food service job experience where you are, and save up all the money possible. It would help immensely if your parents are supportive in case your plans fall through, or you get into trouble financially and need a gift or a loan. Also, don't forget that Rochester has a great music scene and if you can hang out there, you might meet some people who are heading south some time soon.
It would also help to be a few years older. The best room mate situations involve people who are older than you, in their 20's, and many would not accept such a young person for fear you'd be irresponsible. It's not fair, I know, but I know it happens. Any contacts you can find around NYC who are in their 20's could be a great help as well. Above all--no illegal drugs in your life. They don't improve the music but they do screw up your life in multiple ways. Also, practice now cutting expenses and learning how to live with less. And I do hope all your dream comes true.
Licensed Real Estate Salesperson
New York, NY
You should have paperwork ready to make sure you can submit an application as quickly as possible on a place you like. The summer rental market is always competitve, so if you have the paperwork, you'll be ready to apply quickly. You do not need to give this paperwork to anyone until you are ready to apply.
Here's about what you'll need for yourself and a guarantor:
1) the guarantor needs to make 80 to 100 times the monthly rent.
2) first two pages of 2011 tax returns
3) 2- 3 recent paystubs
4) checking and savings statements
5) letter of employment stating how long you (or your guarantor) has worked at the company, position, and salary.
6) for you, you'll need a letter from your landlord stating how much rent you paid, how long you were there, and that you were a great tenant.
Also, if the guarantor is self-employeed, the requirements are a bit different.
Some landlords require more information, some less. However, if you have this information ready to go when you're looking for an apartment, you're more likely to get the apartment you want!
If you have any questions, don't hesitate to ask, and good luck!
Happy New Year and Congratulations on your Ph.D!
Welcome to making a new choice/decision in your life. As many of my colleagues below have pointed out the pro's and con's of owning a Loft apt vs a 1-bedroom home, I think its best if you visited them all. I have had buyers say to me " I want a loft" and ended up buying a traditional cookie cutter one-bedroom. And vice versa. So my advise to you is make the time to view them all and you will be happy you made an informed decision. I also concur with the others that you are be best off working with a Buyer broker to guide and navigate you through out the process one step at a time.
I have represented buyers mostly and worked the downtown market since 2001, and would love to be of service to you. Should you wish to, feel free to contact me at firstname.lastname@example.org. I can assist you by sending you all the available listings in your price-range both co-op and condo, set-up and accompany you on the showings, give you sold and active comps, help you with mortgage brokers/bankers/attorneys and making offers. All the way to the finish line.
All the Best in your search and Good Luck,
Give her an increase and explain you are doing it because of your own increases in the building. If the tenant wants to stay, she will stay. Its very tough to move right now for her so she will pay the increase. Increase it 5% and see what she says. Good Luck!... more
In January 2011 a new NY State law took effect regarding Agency Disclosure. At the first substantive contact an agent must disclose who they represent. In NY State all buyers are entitled to their own representation. A listing agent must disclose they represent the seller's interest and you have to sign the agency disclosure form that clearly states in NY all buyers are entitled to their own representation. The seller must sign the same form. The brokerage community REBNY members and DOS the NY Department of State are takling thie agency disclosure law very seriously.
An unrepresented buyer getting a better deal because they don't have a buyer's broker will soon be an urban myth. To answer your question "Wouldn't the seller's broker work harder to sell me the home than the other buyer?" Perhaps an unethical one. The seller's broker has a fiduciary duty to the seller. To get the seller the best and highest price. It is not about the broker getting a bigger fee. The law is to protect the consumer/buyer. The seller pays the listing broker a brokerage fee. The seller and the seller's broker have a a contract that states the brokerage fee for service.
Much of the work an experienced buyer's broker does takes place between an accepted offer and getting the buyer to the closing table. That is why even the most sophisticated experienced real estate investors work with buyer's brokers to take care of all the details and manage the transaction.
Mitchell Hall, Associate Broker
The Corcoran Group
A lot has changed since 2008 when the question was posted. The areas that you inquired about are still exceptional locations in NYC and some of my favorite. Currently prices are holding steady, in Tribeca you can purchase a two bedroom for approx $1.165 million, or a loft for approx $1.360 mill. In the village a convertible three bedroom is priced at approx $1.16 mill..interest rates are low, sellers are nervous, it's a solid buyer's market. There's no free lunch and sellers arent' giving their units away but they are certainly more flexible then in the past. ”. If I may be of service feel free to contact me anytime. If you are searching for a good mortgage broker feel free to contact Patricia Lavigne of Manhattan Mortgage she’s at 212-745-9012 or email@example.com. Please note that I do not receive any compensation for referrals. Best of luck and I’m here if you need anything.
Licensed Real Estate Salesperson
In my experience, you almost always need a permit, it's not about load bearing walls or electrical upgrades. if you're doing remodeling, they want to know what you plan. It's a good idea to simply go down to your local code enforcement department and ask and expect to pay a fee for the permit related to the cost of the improvements you plan to make.
This is a much better route than what could happen if you don't: Your neighbor gets annoyed with all the hammering, calls the code dept. on you, and you get a huge investigation fee on top of the original permit cost you should have paid to begin with! Good luck with your remodeling plans, sounds interesting!
Broker, CRS, GRI, ePro
Raving Real Estate
Laramie, WY 82070... more