<p>We insisted (by paying the fee) that our kids use a reputable broker when selecting NYC apartments. We wanted to avoid their being ripped off (dunno how real the danger is), and it also seemed to open up more possibilities and decrease competition.</p>
<p>I have been reading this thread with interest, as D has also accepted a job in NYC when she graduates in June. We recently spent a weekend there, so we decided to look at places close to her office. She wants to either walk to work or have a very short subway ride, as she will be working long hours. She does have one roommate already. Question, are 3 bedrooms hard to find? It would be cheaper, and I’m sure they can find another friend to live with them, but would that limit their options? They want to live near Battery Park City or someplace on the lower west side.</p>
<p>She should check out 2 gold street.</p>
<p>Thanks oldfort! I’ll let her know.</p>
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<p>I don’t think so though they do require a bit more searching depending on area. Know plenty of people who rented 3 bedroom apartments in the NYC area. Granted, all of them are way further uptown(Morningside Heights, Washington Heights) or in Brooklyn/Queens. </p>
<p>Only issues I see with 3 bedrooms is that it adds another person to the apartment sharing equation and if it goes south due to finances, roommate disputes, issues with landlord…it can make an aggravating issue more complicated. </p>
<p>Recently, I helped a friend through such a dispute as he and another roommate had issues with the third roommate making timely rent/shared expense payments after having no such issues for the first six months. Worse, third roommate refused to take any responsibility, said they weren’t being understanding about his financial situation despite his working a high-paying financial services position, and turned the blame on the other two roommates. :(</p>
<p>Not to say it’s impossible as I shared a 3.5 bedroom apartment with 4 roommates myself in the past. To be far, 2 of those roommates were medical interns/residents so I’d sometimes only see them once or twice every 3-4 weeks and there was never any issues with anyone meeting their monthly rent/expenses obligations.</p>
<p>Good points Cobrat, thanks. I think they could find another college friend, so I don’t think that would be an issue (of course, you never know). They are just wondering if adding a 3rd person would limit their choices, if many 3 bedrooms aren’t available. They definitely want to be near work. I didn’t mean to hijack this thread.</p>
<p>As far as the three bedrooms go…my son moved to NYC and lives in a large, nice apt complex in the financial district. He has two roommates, and they each pay $1500/month. The apartment is a “convertible” 2 bedroom apartment. For $1K, they put up a temporary wall, that made a third bedroom out of part of the living room, which was pretty large. This was an option offered by the apartment complex, they didn’t build it themselves, and apparently this isn’t that unusual. It is a fairly good sized apartment, and it made the rent very reasonable.</p>
<p>I was surprised at how easy it was for him to rent. They only needed a credit check, and his employers contact information. No co-signers, no hassle. Definitely different than the co-op situations here, and they didn’t have to pay for a broker. Why pay so much money for a broker, anyways?</p>
<p>I know some brokers won’t work with 3 roommates. They say its too much of a hassle to get the ducks in a row for 3 people. Of course this is not an issue for no fee apts.</p>
<p>We found during daughter’s search that many buildings will no longer allow a full temporary wall to be built. They require that the wall stop about a foot from the ceiling so the new “bedroom” really isn’t a private space. The apartment she rented already had a full temporary wall in place which she could keep by paying $500 to switch the wall lease to her name. Just like others have said, it took lots of up front cash to make this move.</p>
<p>I have had friends who lived in several buildings built/renovated and owned and managed by Rockrose. There are no fees, but the apartments are not cheap. On the other hand, they are very nice and very well-maintained.</p>
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<p>I am addressing the OP’s specific issue, that is, her D is working in midtown, Park and 46th. If her D was working downtown, I would have given her a different advice.</p>
<p>In addition, she will be working in finance and I know the long hours. I would not want my D to be taking a long subway ride or PATH after a long day’s work, probably after 10PM.</p>
<p>Bus driver, I just sent you a pm. Thanks!</p>
<p>Got it, dumbo, I’ll answer it right now. I’ve been offline (oh the horrors) for awhile!</p>
<p>cbreeze - you are right on this. My D will be working in MidTown in finance with long hours. She will not even consider Brooklyn or Queens. I am really hoping she will find a place walking distance or maybe a quick subway or bus stop to work. Thanks everyone for the great feedback. I am going to try to get her to consider Murray Hill or Turtle Bay. All this discussion of roommates, temporary walls, etc is all great info.</p>
<p>Going to bump this thread again. I am going to Manhattan this weekend with my daughter to look at areas she wants to live in. I reread this thread and shared with her your advice. RIght now, she hopes to live in Murray Hill , Gramercy, or Union Square. I have done alot of research on non fee apartment rentals that you rent directly from management companies. We hope to not have to spend the money on a broker. I have a list of these non fee buildings that we hope to check out. We hope to actually see several apartments, so if they become available in June, she will know what she is looking for. She is hoping to have a roommate to share a 1 bedroom flex. I found many buildings won’t allow shares in 1 bedrooms. Even without walls. I thought that was strange. The rules are much stricter now regarding walls- no doors allowed and need to have at least a foot of space at the top. I really want her to have a doorman building because of safety and convenience with packages. I heard there is a housing project in Kips Bay between 26th and 30th East of 2nd Ave, Is this area is still safe?
Does anyone have input on any of these management companies? Manhattan Skyline, Stonehenge, Archstone, Glenwood. If you know of any Murray Hill, Gramercy, Kips Bay apartments to stay away from, please let me know. Thanks in advance for your help.</p>
<p>If she’s willing to pay for a doorman, the brokerage fee should shrink in importance (over time), and paying it seems to expand possibilities. In any case, dealing with a management company seems right; avoiding fraud dealing with individuals is difficult to guarantee.</p>
<p>NYC renal is very tight, especially in the summer. I don’t think it will be very likely that your D will be able to get an apartment directly from a management company. They tend to give it to their favorite agents in order to get those agents to help them out during low season, like Nov-Jan. </p>
<p>When we first moved back to NYC, we rented a beautiful, large 2 bedroom apartment at a rental building before it even went on the market. My agent told me that good apartments generally do not go on the market, they are usually rented out as soon as they become available. </p>
<p>26th-30th and 2nd Ave is quite safe. I think she would be happier around Union Square, but it is very expensive there. I am surprise that landlords won’t allow 2 people to share a one bedroom. My daughter and her RM converted a one bedroom to a 2 BR by putting up a wall, which is not really legal any more. They just recently moved to a full 2 bedroom in the W Village recently. They had to pay broker’s fee both times. It is also hard to get an apartment other than from the listing agent because the agents don’t like to share the fee.</p>
<p>BTW, I lumped brokerage agents into the “management company” pool; agents of reputable companies should be safe to deal with. I’d want to avoid individuals without a proven professional relationship.</p>
<p>Look at streeteasy.com and click on their rental tab. There are a lot of condo owners who advertise there and some will state No Fees. You can add “Kibel” to your management company list.
There’s an article in NYT this last Sunday saying rents are starting to soften.
<a href=“Manhattan Rents Down, Incentives Are Up - The New York Times”>Manhattan Rents Down, Incentives Are Up - The New York Times;
<p>I would advise to stay away from coops, even condos, if possible. They maybe cheaper rentals, but the amount of paperwork which is required to get approved is not worth it. If your kid’s credit history is light, they’ll ask for parents’ financial information, and it could include tax returns, bank statements…for board approval. Some condos can also be just as difficult.</p>