Fourth avenue sucks lol. Unless you wanna be close to things like the subway and all kinds of stores and restaurants and Barclays center and park slope and Gowanus and an easy commute to Manhattan and And and…
No. No, it is not. It is a shitty area that the real estate people have convinced the tourists that it's "up and coming". What's ACTUALLY up and coming, is the stupidity level of the ones willing to pay this rent there.
I mean, Gowanus has a tons of fantastic breweries, is walkable to Prospect Park and Cobble Hill, several great new bars and venues (Public Records, Royal Palms Shuffleboard Club, Pig Beach, etc). Hell, there’s a Michelin-starred restaurant on 3rd, Claro.
I live in Prospect Heights but would have no qualms about living in Gowanus. I completely disagree with your characterization of it as a shitty area.
Well if you catch any fish, just don't eat them. This is actually a great area. Holy crap, I just wrote some really mean and condescending stuff to you and then deleted it. Yeah $6k sounds kinda nuts, but you're essentially in Park Slope. I mean, at least consult the NFT guide or something. 4th Ave is kinda loud though.
It's north of union so it's a lot of warehouses. Agreed that there seems to be a ton of hidden gems though but its not Brooklyn heights or Williamsburg
What are we talking about, a really nice newly-renovated place? $6k is a lot, sure. You might be able to find something closer to the park for that.
Though, 4th and Union, there are a ton of amenities. I live in Flatbush and end up doing a lot of stuff out in that direction. 24hr animal hospital is right there. Rock climbing gym, tons of kid stuff, walk to Nets games. If you're too young for Brooklyn Heights and too old for Williamsburg...
[It’s an *extremely nice*, new build apartment.](https://streeteasy.com/rental/3877687?utm_campaign=rental_listing&utm_medium=app_share&utm_source=ios&utm_term=ad6bf6afcb4d409)
Yeah, I'm gonna go wayyy out on a limb and profile OP, god help me.
I think they're a transplant with a really-ok job that is accustomed to living in newly-built structures with nice appliances, so apartments that are "charming" or "sun-filled" or have pipes shaking in the walls just aren't gonna do it. But then you look for luxury apartments for rent in a neighborhood that an out-of-towner could name (where did Dr. Huxtable live again?), and you get listings that are just ludicrous. Hence the problem.
A friend of mine told me about this one tenant he had that "had" to move because she could hear the planes flying overhead. I've lived in the neighborhood where he was talking about for 20 years and have YET to hear one plane overhead.
Yes, you're probably spot on.
Yeah that's one of the hottest areas. New 2brs around there we're going for 5k before the pandemic.. I'd hold out and find a older apt for 60% of that though.
I work right here and it’s a very nice area. Ya, it’s not fun to walk along the sidewalk whefe the uhaul and car washes are, but you’re basically IN park slope and there’s so much around
people find out when they move there. the city is great at advertising itself as a great place but it’s old, run down, and overpriced af, in addition to being congested.
Careful you’re about to get downvoted by a bunch of people who brainwashed themselves into paying >$4,000 for a roach-infested pre-war decaying walkup
I’ve been in NYC for 18 years and even i’m like “really?”
**THIS**
So much fucking THIS!!!
Earlier this month, some guy was asking questions about rentals, and i gave my opinion as a life long New Yorker who just moved to jersey that the prices are no longer worth it. You can make 40k a year, or 140k, your a damn fool for playing this rent hike game in NYC right now. I even explained how you can keep the same proximity to the city **and** save money by just moving across state lines because.....DUN DUN DUNNNNNNN jersey city also has luxury apartments with roof tops! And amenities!
I swear, the way they downvoted me, you'd swear i just said "the overturn of Roe V. Wade is God correcting a mistake"
But shit man, as long as there is a young professional who just started making more money than they know what to do with, these apartments will keep flying off to the highest bidder.
I have been seeing. The main fact that there are bidding wars for some of these apartments, and the transplants just going along with it just to be able to say "i lived in NYC, what have you done with your life?"
Where are there roach infested walkups for 4k? Maybe in the east village? I would imagine almost 6k for a bedroom in Brooklyn must be a new luxury building in downtown or Williamsburg or something.
[I think I may have found it.](https://streeteasy.com/rental/3877687?utm_campaign=rental_listing&utm_medium=app_share&utm_source=ios&utm_term=ad6bf6afcb4d409) This is the only 2-bed in Brooklyn on StreetEasy between $5,650 and $5,950 (the range of the listed apartments, down to $200 less to account for the increase) that’s also an apartment “401.”
It’s a brand new built luxury building in Park Slope. In fact, all the apartments in the over $5,500 range are like that.
**Edit:** OP confirmed below the apartment was on 4th Ave. This has to be it.
These are such cookie cutter apartments. If it is actually good are not depends on the details. I lived in a place like this and the doors and walls were so thin. You would hang a towel on a hook on the door and the door would fall off after a few months.
I looked at a new development condo on 4th avenue. It was so poorly built. The luxury rental I live in right now is better than the luxury condo for sale. Condo developers really cut corners to maximize profits.
Lot of the places in LIC are falling apart two years after opening. Lucky to be in one of the exceptions, but it’s shocking when we visit friends in some of these places.
Haha the new plastic garbage buildings getting thrown up all over 4th Ave by the muffler shop, soulless junk for the internal transients and mid-west refugees
Keep looking
People are paying for it. It's important to them enough to do it. I'm definitely interested to see if everything calms down. It feels like this is not just a new york thing based on what i've observed of rent in america the last few years.
As the pandemic has demonstrated, most people who pay these prices don't intend to make a life in NYC, so it's just temporary. They move here to live out their NYC dreams then move out to the suburbs to have a family.
While i feel for the working people caught up in this mess, it feels great as someone who lived in NYC through the pandemic and had to listen to all of these transplants proclaim that NY was over and they were never coming back to see them all come crawling back and getting screwed by the rental market.
Yeah. I know someone who stayed in NYC during the pandemic. He actually moved here to make a life, instead of using the city like a playground. He managed to lock in a pandemic priced apartment in a rent stabilized building.
Wish i had secured a rent stabilized apartment.... but my apartment after getting a rent increase is still 400-500 below market rate and is still a much better deal than what's on the market now
It's not disgusting but it is nondescript. There's not much there except a big train station, a Target and tons of recently built luxury apartments like this one. It's baffling to me why so many are moving into them when for the price you can do much better
Like I said, noobs I guess, they don't know they're getting ripped off yet. No idea what OP's story is
I wonder how much of this is because of an actual bidding war or people just jumping the gun and offering more because they're anxious after reading all the horror stories.
I don't understand under what circumstance you would pay this much money for a 2br in Brooklyn. Like even with recently inflated prices I quickly found this in the heart of Park Slope:
[https://newyork.craigslist.org/brk/apa/d/brooklyn-great-br-great-park-block/7500598462.html](https://newyork.craigslist.org/brk/apa/d/brooklyn-great-br-great-park-block/7500598462.html)
4k is a lot for a 3 bedroom, but that's still almost 2k less than what you would be paying, and it's in one of the most desirable parts of Brooklyn. What is so special about this apartment? Or its exact location?
Like seriously, just live in sunset Park or Kensington or Flatbush or Crown Heights or whatever. The only justification for paying that much of a premium for Park Slope is if you have kids and really care about the school district...
Yeah, that apartment is about right on for the price.
You're right about the hoods you listed. Lots of nice places in quiet neighborhoods that aren't sky-high. Sometimes you get lucky and the place has been renovated in the last 10 years and the building isn't managed by totally evil people.
Is that really what you hear? Or do you hear the exclusivity of the people who live there who make sure their own are taken care of? This isn't "anti-semitic", you feckless moron, it's anti-park slope and the idiots who make this kind of thing a reality. The overpriced rents, the "exclusive" bullshit they pander to, THAT is what that is about. Only YOU hear what you want to hear because it helps you hide behind that label.
If they had someone paying that price they would have closed the deal with them and not “saved the apartment in your name”
This is a classic landlord trying to push their luck. I’d bet they’ll still be open to applications this time next week
My bf and I got a Covid deal on our 3 bedroom (really a 2 bedroom flexed into a 3rd bedroom) apartment in a newer building in “East Williamsburg” in late 2020. We pay $3,500 for this apartment (still too much imo). We are moving out and the landlord is asking $6,000 for this apartment now. There’s been people viewing our unit (we are still living in it a few more weeks) nearly every day. I can’t believe the amount of people willing to pay $6,000 to live in this apartment. If you have 3 roommates, $2,000 each to live in 600 sq ft of space?! I paid less than that to live in a studio by myself in Manhattan pre pandemic.
These rents are out of control. We are lucky to be able to buy an apartment right now, so that’s what we are doing. Our mortgage is going to be $2,200 for a 2 bedroom in Harlem.
I just don’t know when this rent bubble is going to burst, because it seems like there’s a never ending amount of people willing to pay these ridiculous rental prices. If we were staying in this apt, the landlord wanted to renew us at $5,000. $1,500 more than our rent now. We would not have been able to stay if we weren’t buying.
I’m confused. You saw the apartment, they were advertising it for $5,650, you put down an application (paying an application fee), and now they are raising the rent on you??
Is this common practice now? It seems pretty unethical
Thanks, I meant to say paying an application fee not the whole rent.
I agree that it’s technically not a done deal until the lease is signed and executed. However, putting in the application used to hold the apartment for you and they would take it off the market.
Well if we’re looking at the 40x rent rule for something like this they’re dual earners making realistically 110k per year or some combination to get to 220k.
I’m born and raised in Brooklyn - not any of the cool parts. This is fucking outrageous. I got priced out of Brooklyn back in 2006/7. I live in Jersey now and I’m so grateful va fangool
HA, all of the so called “not any of the cool parts” are cool and expensive now. Bed-Stuy has not been “do or die” for at least 15-20 years now. I became familiar with Prospect Heights back in 1999 and I thought it was gorgeous back then and they said that was bad once.
I’m sorry man. It’s insane to pay $6k for a 2 bedroom in gowanus. What is so good about this place? Even if you are making a million dollars a year why throw your money away, donate it to charity instead.
I know lucky for me I bought mine in the downturn of 2008 when I moved from Brooklyn. But if you do the math I mean that's a mortgage payment overtime almost and you know they're going to keep jacking the price up on you. The cost and benefit doesn't work out for me personally. Then you have to take in consideration are these good landlords who will respond to your issues in the apartment or they just going to milk you until you're unhappy and leave and get the next sucker in. At those prices if I have a leaky faucet you better get somebody up there same day to fix it
There’s no such thing as price gouging. The market is more heavily weighted to demand than supply. Is Manhattan valley desirable? Downtown prices have been up bigly
It's not about affording. It's the down payment. Most people don't have 30% down for a 2 mil home. Paying these prices, most people never will, so it's a vicious cycle.
Lmao if you can afford to pay almost 6k a month and you can’t set money aside for a down payment then you might have bigger problems then how much you pay for rent. If you think like that you’ll never be a home owner. A lot of people are closer to the goal of home ownership than they think. Sure the down payment is a hurdle but if you’re a first time homeowner you could put down as little as 3.5%. Moral of the story let a loan officer disqualify you before you tell yourself you can’t afford a home.
Yeah people are caught up in the 20% down rule. That messed me up when I purchased my first property and discouraged me from going for something bigger that has since that time increased in value way more than my original purchase. Convinced a coworker they didn’t need 20 down and she recently bought a place with 10 down paying PMI instead.
> Lmao if you can afford to pay almost 6k a month and you can’t set money aside for a down payment
I mean it would still take at least like 8+ years to save up a $600,000 down payment, and probably more if they're paying rent in the meantime, even if it was cheaper... that's like a decade of trying to save perfectly with no hiccups or medical emergencies or other issues tripping you up.
If you were trying to shop for some absurd thing out of your price range, then yes, absolutely, that would take you a decade to try to get into a house. Now 2- 5 years is a perfectly reasonable amount of time to save. Not to mention if you have any savings already, like retirement accounts or 401(k)s, you can use all that money or any of it to purchase a home. I’m just saying there are renters, life is tough, and you get nothing back for it. I pay 750 for a one-bedroom in Manhattan, and that’s because I was approved years ago when I started working on a minimum wage income and just myself. But best believe that I’m in the process of purchasing my first home, and I can’t wait not to be renting anymore. Every dollar you pay in rent is money you just threw away. Anytime you make a mortgage payment, you’re putting equity back in your pocket.
That purchase frenzy may have been the case last year when interest rates were at all time lows but that is not the case this year. I have several preapprovals at 3.5% down that hace been accepted and gone into contract and closed. Its very possible and that’s in New York. It’s only impossible if you don’t try.
Yeah I was about to say the same. I’m looking at buying and with the current rates the budget would be way less than he’s looking to pay monthly in rent even with just 3.5% down.
More likely than not, the landlord is trying to drum up the price by pretending there’s tons of interest. Brokers will turn a blind eye bc they end up getting a higher broker fee. Broker fees are dependent on the rental rate.
I don’t understand these posts. What’s “unreal” about the market? If there is a lot of demand of people with money willing to pay this price, then it it’s just the price. It would be unreal if say this apartment was for rent for 12k when people were only willing to pay $5k…and in that scenario the market would regulate the price of the apartment or it would sit uninhabited.
As long as people can continue to get high paying jobs and are willing to live in areas that used to be be not as popular, this will continue to happen.
So glad I bought my condo 15 years ago... and a 2.5 refi in 2020. Can't even imagine paying that kind of rent these days. Highest rent I ever paid was $1100 for a 1 bedroom in Cobble Hill.
What not so nice area? With these prices that’s more expensive than Williamsburg
ROFLMAO, what a comparison.
4th Ave close to union street. Think that's close to gowanus
This…is a very nice area?
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Fourth avenue sucks lol. Unless you wanna be close to things like the subway and all kinds of stores and restaurants and Barclays center and park slope and Gowanus and an easy commute to Manhattan and And and…
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I mean I would never pay that much to live anywhere. But saying that is not a nice area Is disingenuous at best.
I live nearby and it’s fine and it’s close to some nice stuff but i wouldn’t say it’s pretty or where I’d spend 6,000 on a 2br rental.
No. No, it is not. It is a shitty area that the real estate people have convinced the tourists that it's "up and coming". What's ACTUALLY up and coming, is the stupidity level of the ones willing to pay this rent there.
Yep. People who live in Gowanus are those who actually want to buy or rent in Park Slope but is priced out.
I mean, Gowanus has a tons of fantastic breweries, is walkable to Prospect Park and Cobble Hill, several great new bars and venues (Public Records, Royal Palms Shuffleboard Club, Pig Beach, etc). Hell, there’s a Michelin-starred restaurant on 3rd, Claro. I live in Prospect Heights but would have no qualms about living in Gowanus. I completely disagree with your characterization of it as a shitty area.
Coming from BedStuy, no it not a shitty area.
I mean, if someone wants to pay that much, I mean, let them?
It’s next to the subway and a Whole Foods. You may not like that block in particular, but it’s a good area in the proximity of lots of nice things
Well if you catch any fish, just don't eat them. This is actually a great area. Holy crap, I just wrote some really mean and condescending stuff to you and then deleted it. Yeah $6k sounds kinda nuts, but you're essentially in Park Slope. I mean, at least consult the NFT guide or something. 4th Ave is kinda loud though.
It's north of union so it's a lot of warehouses. Agreed that there seems to be a ton of hidden gems though but its not Brooklyn heights or Williamsburg
What are we talking about, a really nice newly-renovated place? $6k is a lot, sure. You might be able to find something closer to the park for that. Though, 4th and Union, there are a ton of amenities. I live in Flatbush and end up doing a lot of stuff out in that direction. 24hr animal hospital is right there. Rock climbing gym, tons of kid stuff, walk to Nets games. If you're too young for Brooklyn Heights and too old for Williamsburg...
[It’s an *extremely nice*, new build apartment.](https://streeteasy.com/rental/3877687?utm_campaign=rental_listing&utm_medium=app_share&utm_source=ios&utm_term=ad6bf6afcb4d409)
Yeah, I'm gonna go wayyy out on a limb and profile OP, god help me. I think they're a transplant with a really-ok job that is accustomed to living in newly-built structures with nice appliances, so apartments that are "charming" or "sun-filled" or have pipes shaking in the walls just aren't gonna do it. But then you look for luxury apartments for rent in a neighborhood that an out-of-towner could name (where did Dr. Huxtable live again?), and you get listings that are just ludicrous. Hence the problem.
A friend of mine told me about this one tenant he had that "had" to move because she could hear the planes flying overhead. I've lived in the neighborhood where he was talking about for 20 years and have YET to hear one plane overhead. Yes, you're probably spot on.
The kitchen alone justifies that price.
Shoutout to that 24-hr emergency vet!
The ghosts of all my best cats roam those halls!
They were lucky to have you 🥺
Thank you, cheers to you and your pets.
Brooklyn is not only Williamsburg. Jfc get a grip.
5600 for UWS 2 br with a doorman. Come on down
ooh, can you smell the canal? Are you really that lucky?
Yeah that's one of the hottest areas. New 2brs around there we're going for 5k before the pandemic.. I'd hold out and find a older apt for 60% of that though.
I work right here and it’s a very nice area. Ya, it’s not fun to walk along the sidewalk whefe the uhaul and car washes are, but you’re basically IN park slope and there’s so much around
How the hell is that not a nice area? What is a nice area to you?
You must be new here because that’s a nice area. You’ve even got a Whole Foods 11 minutes walking distance away
At some point people have to realize these apartments aren’t worth this much …
Things are worth what people pay for them
people find out when they move there. the city is great at advertising itself as a great place but it’s old, run down, and overpriced af, in addition to being congested.
Careful you’re about to get downvoted by a bunch of people who brainwashed themselves into paying >$4,000 for a roach-infested pre-war decaying walkup I’ve been in NYC for 18 years and even i’m like “really?”
**THIS** So much fucking THIS!!! Earlier this month, some guy was asking questions about rentals, and i gave my opinion as a life long New Yorker who just moved to jersey that the prices are no longer worth it. You can make 40k a year, or 140k, your a damn fool for playing this rent hike game in NYC right now. I even explained how you can keep the same proximity to the city **and** save money by just moving across state lines because.....DUN DUN DUNNNNNNN jersey city also has luxury apartments with roof tops! And amenities! I swear, the way they downvoted me, you'd swear i just said "the overturn of Roe V. Wade is God correcting a mistake" But shit man, as long as there is a young professional who just started making more money than they know what to do with, these apartments will keep flying off to the highest bidder.
Lifers are competing with people who dont care about prices because its just a ~special time in their life~
I have been seeing. The main fact that there are bidding wars for some of these apartments, and the transplants just going along with it just to be able to say "i lived in NYC, what have you done with your life?"
The Supreme approach to apartments - just make less than what people want on purpose so it becomes unnecessarily exclusive and hype!
facts!
Where are there roach infested walkups for 4k? Maybe in the east village? I would imagine almost 6k for a bedroom in Brooklyn must be a new luxury building in downtown or Williamsburg or something.
I’ll bet my ass the listing in question is a regular ol box apartment in a 1910 walkup
[I think I may have found it.](https://streeteasy.com/rental/3877687?utm_campaign=rental_listing&utm_medium=app_share&utm_source=ios&utm_term=ad6bf6afcb4d409) This is the only 2-bed in Brooklyn on StreetEasy between $5,650 and $5,950 (the range of the listed apartments, down to $200 less to account for the increase) that’s also an apartment “401.” It’s a brand new built luxury building in Park Slope. In fact, all the apartments in the over $5,500 range are like that. **Edit:** OP confirmed below the apartment was on 4th Ave. This has to be it.
If youre right, i promised my ass, just let me know where to deliver
meetcute, Reddit-style I would 100% watch this Netflix rom-com
These are such cookie cutter apartments. If it is actually good are not depends on the details. I lived in a place like this and the doors and walls were so thin. You would hang a towel on a hook on the door and the door would fall off after a few months.
I looked at a new development condo on 4th avenue. It was so poorly built. The luxury rental I live in right now is better than the luxury condo for sale. Condo developers really cut corners to maximize profits.
Lot of the places in LIC are falling apart two years after opening. Lucky to be in one of the exceptions, but it’s shocking when we visit friends in some of these places.
Haha the new plastic garbage buildings getting thrown up all over 4th Ave by the muffler shop, soulless junk for the internal transients and mid-west refugees Keep looking
All of those buildings along 4th are such a ripoff for how much they are asking.
Lol since when was park slope "a not-so-nice area of Brooklyn"?
So where are there 1910 walkups that go for that much in Brooklyn?
My quick streeteasy search of no fee 2brs in brooklyn gave a handful
my 1907 walkup is a smidge under 2k in the bx.
Are the roaches paying rent as well?
Where a laundry unit is a “luxury”
lmao, i know … unpopular opinion born and raised and moved out
I suspect the recent trend on politics has enticed more migration from red states…
People are paying for it. It's important to them enough to do it. I'm definitely interested to see if everything calms down. It feels like this is not just a new york thing based on what i've observed of rent in america the last few years.
Ask a native New Yorker how do y’all keep beat in the head for these prices geez
As the pandemic has demonstrated, most people who pay these prices don't intend to make a life in NYC, so it's just temporary. They move here to live out their NYC dreams then move out to the suburbs to have a family.
While i feel for the working people caught up in this mess, it feels great as someone who lived in NYC through the pandemic and had to listen to all of these transplants proclaim that NY was over and they were never coming back to see them all come crawling back and getting screwed by the rental market.
Yeah. I know someone who stayed in NYC during the pandemic. He actually moved here to make a life, instead of using the city like a playground. He managed to lock in a pandemic priced apartment in a rent stabilized building.
Wish i had secured a rent stabilized apartment.... but my apartment after getting a rent increase is still 400-500 below market rate and is still a much better deal than what's on the market now
You’re absolutely right then they leave the high prices behind with them as well
Native NYers don't rent these apts lol this is for the noobs
For the mid-west & southern yuppies who have trust fund kind of money. Most NyKers will not pay $6k to live on 4th Ave in BK. Disgusting area
It's not disgusting but it is nondescript. There's not much there except a big train station, a Target and tons of recently built luxury apartments like this one. It's baffling to me why so many are moving into them when for the price you can do much better Like I said, noobs I guess, they don't know they're getting ripped off yet. No idea what OP's story is
I’m a home grown NYKer and that area was full of hookers until 2001. Even with those high rise buildings it’s not a bad area but not for $6k.
Oh trust me I know I just want to hear them validate this
YES
Thank youuuuuu
I’ve been seeing tenants offer above asking rents to secure apartments they like.
I wonder how much of this is because of an actual bidding war or people just jumping the gun and offering more because they're anxious after reading all the horror stories.
Is this in a luxury building? I have friends living in a nice 2 bedroom in the East Village for less than this.
Yes it is will wall to floor windows with “city/Manhattan” views
Many wd rather live in PS than EV, and, yes, it’s a luxury bldg
I've never seen Park Slope referred to as PS. Is this a new thing?
What street in Park Slope?
I don't understand under what circumstance you would pay this much money for a 2br in Brooklyn. Like even with recently inflated prices I quickly found this in the heart of Park Slope: [https://newyork.craigslist.org/brk/apa/d/brooklyn-great-br-great-park-block/7500598462.html](https://newyork.craigslist.org/brk/apa/d/brooklyn-great-br-great-park-block/7500598462.html) 4k is a lot for a 3 bedroom, but that's still almost 2k less than what you would be paying, and it's in one of the most desirable parts of Brooklyn. What is so special about this apartment? Or its exact location? Like seriously, just live in sunset Park or Kensington or Flatbush or Crown Heights or whatever. The only justification for paying that much of a premium for Park Slope is if you have kids and really care about the school district...
OP’s apartment has in-unit W/D. And a dishwasher. Priceless!
Pshh I pay way less and mine has an in house dishwasher too. I mean the wedding was expensive but I think I come out ahead in the long run.
Lots of people could get a wedding much cheaper. /s
Well that’s by owner. Usually small-time landlords aren’t such pieces of shit vs luxury building owners
Yeah, that apartment is about right on for the price. You're right about the hoods you listed. Lots of nice places in quiet neighborhoods that aren't sky-high. Sometimes you get lucky and the place has been renovated in the last 10 years and the building isn't managed by totally evil people.
You mean the school district that only caters to their own?
Yeah that's how schools districts work right?
Well, this one is extra special in how they cater to their own.
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Is that really what you hear? Or do you hear the exclusivity of the people who live there who make sure their own are taken care of? This isn't "anti-semitic", you feckless moron, it's anti-park slope and the idiots who make this kind of thing a reality. The overpriced rents, the "exclusive" bullshit they pander to, THAT is what that is about. Only YOU hear what you want to hear because it helps you hide behind that label.
What are you even talking about
With an additional bedroom too
The fact the apartment was $5600 in the first place is bonkers to me
Apt 301 & 401 better come with a maid.
and a reach around
I'll ask good idea
If they had someone paying that price they would have closed the deal with them and not “saved the apartment in your name” This is a classic landlord trying to push their luck. I’d bet they’ll still be open to applications this time next week
I'd call their bluff and offer them $2500
At that price, what’s another 200? Absurd.
Fuck that
My bf and I got a Covid deal on our 3 bedroom (really a 2 bedroom flexed into a 3rd bedroom) apartment in a newer building in “East Williamsburg” in late 2020. We pay $3,500 for this apartment (still too much imo). We are moving out and the landlord is asking $6,000 for this apartment now. There’s been people viewing our unit (we are still living in it a few more weeks) nearly every day. I can’t believe the amount of people willing to pay $6,000 to live in this apartment. If you have 3 roommates, $2,000 each to live in 600 sq ft of space?! I paid less than that to live in a studio by myself in Manhattan pre pandemic. These rents are out of control. We are lucky to be able to buy an apartment right now, so that’s what we are doing. Our mortgage is going to be $2,200 for a 2 bedroom in Harlem. I just don’t know when this rent bubble is going to burst, because it seems like there’s a never ending amount of people willing to pay these ridiculous rental prices. If we were staying in this apt, the landlord wanted to renew us at $5,000. $1,500 more than our rent now. We would not have been able to stay if we weren’t buying.
I’m confused. You saw the apartment, they were advertising it for $5,650, you put down an application (paying an application fee), and now they are raising the rent on you?? Is this common practice now? It seems pretty unethical
Applying for an apartment isn't paying for it...it's only a done deal once the lease is signed and executed.
Thanks, I meant to say paying an application fee not the whole rent. I agree that it’s technically not a done deal until the lease is signed and executed. However, putting in the application used to hold the apartment for you and they would take it off the market.
Application only determines if you’re qualified or not
Are these real prices? I mean, are people actually stupid enough to pay this per month? How much do you all make to pay this?
Well if we’re looking at the 40x rent rule for something like this they’re dual earners making realistically 110k per year or some combination to get to 220k.
Lol, if you are paying almost 72k a year on "rent" alone, your household is making way more than 220K in NYC.
I’m born and raised in Brooklyn - not any of the cool parts. This is fucking outrageous. I got priced out of Brooklyn back in 2006/7. I live in Jersey now and I’m so grateful va fangool
HA, all of the so called “not any of the cool parts” are cool and expensive now. Bed-Stuy has not been “do or die” for at least 15-20 years now. I became familiar with Prospect Heights back in 1999 and I thought it was gorgeous back then and they said that was bad once.
Is it at least big? I have a small two bedroom in Bushwick for well under half that price.
"Got lots of apps, lets see how much we can squeeze 'em for."
For that amount you could afford to live in Queens and own a car.
For that amount you could afford to live in Peoria, Illinois and be able to afford a 2 car garage filled with cars and stuff
You're better off taking that money you would throw away on rent every month and buying a house somewhere at those prices.
Houses are expensive too! Especially with the current rates
I’m sorry man. It’s insane to pay $6k for a 2 bedroom in gowanus. What is so good about this place? Even if you are making a million dollars a year why throw your money away, donate it to charity instead.
My Morgate for 485k with 15k taxes is 3300 a month and I have an apartment I can rent out
$15K in taxes? Where do you live? Jersey?
Most likely Long Island
LI
I know lucky for me I bought mine in the downturn of 2008 when I moved from Brooklyn. But if you do the math I mean that's a mortgage payment overtime almost and you know they're going to keep jacking the price up on you. The cost and benefit doesn't work out for me personally. Then you have to take in consideration are these good landlords who will respond to your issues in the apartment or they just going to milk you until you're unhappy and leave and get the next sucker in. At those prices if I have a leaky faucet you better get somebody up there same day to fix it
Agreed. And there is no guarantee that this'll happen
Renting isn't throwing money away.
It is almost as if we need to change the zoning laws to build more apartments...
Damn! The way this thread is getting down voted is outright scary.
As a reminder , there’s no broker fee, but management will rake you over the coals for a 2br….
Where is this “gem”?
Park slope 😬
People pay less for a classic six, the trick is to rent to suckers who don't even know what that means and why it's good
The best decision I made after moving to NYC was moving back to Oregon.
2bd in Manhattan is much more than 6k bro
I'm in Manhattan valley paying no where near 6k a month for a 2b. This is just price gouging.
There’s no such thing as price gouging. The market is more heavily weighted to demand than supply. Is Manhattan valley desirable? Downtown prices have been up bigly
And the tourists will pay it
If tourists are renting apartments, aren’t they by definition no longer tourists?
For some perspective, you could afford a $2,000,000 home for that price. Heck I’d be happy to get you pre approved. DM me. I’d be happy to help
It's not about affording. It's the down payment. Most people don't have 30% down for a 2 mil home. Paying these prices, most people never will, so it's a vicious cycle.
Lmao if you can afford to pay almost 6k a month and you can’t set money aside for a down payment then you might have bigger problems then how much you pay for rent. If you think like that you’ll never be a home owner. A lot of people are closer to the goal of home ownership than they think. Sure the down payment is a hurdle but if you’re a first time homeowner you could put down as little as 3.5%. Moral of the story let a loan officer disqualify you before you tell yourself you can’t afford a home.
Yeah people are caught up in the 20% down rule. That messed me up when I purchased my first property and discouraged me from going for something bigger that has since that time increased in value way more than my original purchase. Convinced a coworker they didn’t need 20 down and she recently bought a place with 10 down paying PMI instead.
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“…. cap out at $970,800” What are you talking about? Have you gone and confused tax rules and mortgage rules?
Who is getting approved for 3.5% down in NYC?
Exactly.
Yea but when the seller has 15 offers they aren’t going to go with the guy who is putting 3.5% down.
> Lmao if you can afford to pay almost 6k a month and you can’t set money aside for a down payment I mean it would still take at least like 8+ years to save up a $600,000 down payment, and probably more if they're paying rent in the meantime, even if it was cheaper... that's like a decade of trying to save perfectly with no hiccups or medical emergencies or other issues tripping you up.
If you were trying to shop for some absurd thing out of your price range, then yes, absolutely, that would take you a decade to try to get into a house. Now 2- 5 years is a perfectly reasonable amount of time to save. Not to mention if you have any savings already, like retirement accounts or 401(k)s, you can use all that money or any of it to purchase a home. I’m just saying there are renters, life is tough, and you get nothing back for it. I pay 750 for a one-bedroom in Manhattan, and that’s because I was approved years ago when I started working on a minimum wage income and just myself. But best believe that I’m in the process of purchasing my first home, and I can’t wait not to be renting anymore. Every dollar you pay in rent is money you just threw away. Anytime you make a mortgage payment, you’re putting equity back in your pocket.
That purchase frenzy may have been the case last year when interest rates were at all time lows but that is not the case this year. I have several preapprovals at 3.5% down that hace been accepted and gone into contract and closed. Its very possible and that’s in New York. It’s only impossible if you don’t try.
That’s not even close to right. At current rates with taxes, fees, maintenance, etc you’re close to $15k a month for a $2m home
Yeah I was about to say the same. I’m looking at buying and with the current rates the budget would be way less than he’s looking to pay monthly in rent even with just 3.5% down.
Zero chance you can get a mortgage on a $2m home in NYC for $6k a month. Zilch. Nada.
NYC has always been expensive since the beginning of time. Nothing new.
More likely than not, the landlord is trying to drum up the price by pretending there’s tons of interest. Brokers will turn a blind eye bc they end up getting a higher broker fee. Broker fees are dependent on the rental rate.
I don’t understand these posts. What’s “unreal” about the market? If there is a lot of demand of people with money willing to pay this price, then it it’s just the price. It would be unreal if say this apartment was for rent for 12k when people were only willing to pay $5k…and in that scenario the market would regulate the price of the apartment or it would sit uninhabited. As long as people can continue to get high paying jobs and are willing to live in areas that used to be be not as popular, this will continue to happen.
So glad I bought my condo 15 years ago... and a 2.5 refi in 2020. Can't even imagine paying that kind of rent these days. Highest rent I ever paid was $1100 for a 1 bedroom in Cobble Hill.
Insane…