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Spring has sprung! Crave outdoor space? The Hatman CAN Do It!

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Not a fire escape

Even without trying, I ALWAYS end up finding great outdoor spaces for my people. I love grilling and chilling and usually, people who do gravitate to me as well. Out of 100 apartments available in any budget, I have a knack for showing the best four or five right away. What the heck are you paying me for anyway?!!!

This is a super value. At $2100, the rent is actually quite low for the area and outdoor space. This amount of outdoor space is actually quite hard to find, but here it is. The location is what everyone looks for. Details are below on the listing.

Located on one of the Villages most desirable and beautiful blocks, just steps to Union Square, restaurants, NYU, shopping, Washington Square Park, & all subway lines. This Charming loft studio is peaceful and quiet with an amazing large private outdoor space that is as big as the apartment itself. Other features include high ceilings, an open kitchen with breakfast bar, new stove and refrigerator, A/C, wall of closets and bike storage. The elevator building is perfectly maintained, has a live-in super as well as a central laundry room making this unique apartment the perfect place to call home. JULY 1ST OCCUPANCY.

Starter Studio with Patio

If you want Sex in the City, then look no further. The Hat Man CAN Do!

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Where would you live in NYC if cost was no object?

April 19, 2011 1 comment

There are many places one can choose to live. Aside from budget, every area has it’s pro’s and cons to consider.

Let’s place the budget aside and focus on the aesthetics for a moment. What areas of the city have always intrigued you and made you say “one day, this will be my neighborhood”.

There has always been high demand for areas downtown. The town house architecture as well as the tree lined and even cobblestone streets of the West Village have a certain “sunday brunch” feel in that area. The east village tenements and many bars and lounges invoke artictic creativity. The exclusivity of Gramercy Park and the key, make block beautiful a popular choice.

There is Battery Park City for those seeking river views and a short walk to work downtown, but not the cold business like feeling of Fi-Di. Tribeca for a loft lover looking to enjoy the great eateries. How about the Upper East Side for walks along museum mile. The Upper West Side for those arts lovers who frequent Lincoln Center.

This city has a cornucopia of great areas to consider and we all need to live somewhere. To give you an idea, many celebrities are in all of the neighborhoods mentioned if that has added value. Leo and Tyra are in BPC, David Wright is in Flatiron, Jimmy Fallon resides in Gramercy and Joan Rivers is even the head of her Upper East Side co-op’s board. Perhaps knowing that your favorite celebrity is in an area makes for added value when you consider who your neighbors are.

The architecture is unique in each neighborhood and that also needs to be considered. Both with the buildings as well as with the lay of the land. Crave tree lined streets? The Upper West Side and Greenwich Village are focal points. Is subway access for 15 minute trips anywhere key? Columbus Circle and Union Square have multiple train lines intersecting for maximum access to the city.

Is it all about the space within your living space? Then that opens up the entire city as there are huge lofts downtown, classic six and combined units uptown (East and West) and whole brownstones or penthouse lofts in new developments in Harlem.

To cover all of this city can be time consuming and frustrating when you get too many cooks in your kitchen. Many agents focus on specific areas and really don’t know all of the city well enough to add value. If they haven’t lived it, they really can’t know it.

I know this city better than most having lived in many areas. If you need a taste of the finest in many areas, reach out to me. As the site’s name states, the hat man can do!

Posted with HatPress for HatsBerry.

NYC +1

April 9, 2011 Leave a comment

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Outdoor space AND location!

This is a big city, but a small world. Yesterday we lost one of the last great scribes in NYC journalism. While the details are shrouded in mystery, something has gone terribly wrong if we will no longer have Clyde Haberman writing for the New York Times.

The loss of one thing usually means we gain something else. I had always heard that expression and found out firsthand last year. My aunt Florence passed away and I simultaneously found out I that had a daughter on the way.

When people relocate here to live, the same principal applies once they see what the realities of the market are here as opposed to what they got where they are coming from. I have seen it happen time and time again in every budget from $1000-$10,000 per month rentals and even with sales.

Many don’t understand the history of the city and as a result, the architecture in any given area. That alone accounts for a big part of the problem, let alone our 350-500sf studio rentals in a fifth floor walk up can get you a mortgage on a three bedroom ranch style elsewhere around the country for the same dollar. It’s apples and orangutans though.

There are many reasons why people are willing to move here and make such drastic sacrifices in life. If you read my last post you know what I mean. The basics are school, work and inspiration. Sometimes it’s one, two or all three of them.

I had an interesting situation happen this week which I see happen every year. A below market rate place, came up for rent in a prime downtown area. I’m talking about a studio under $1700 in a neighborhood where everything averages $2500 for entry level. It has the private patio you see pictured.

While it needs a little TLC and was small indeed, the space is suitable enough to call home. The thing is, after showing it on Tuesday after it only was on the market 3 days, I have been getting calls non-stop. There is simply nothing else on the market in that area that’s close. There are some other spaces, but nothing with that urban sanctuary.

I began to think back over six years worth of clients and memories. The girl I drove to ikea and helped her get and install her furniture, the couple with the need for a windowed kitchen, the roommates who looked in every fringe area in three boroughs because there are no three bedrooms under $2,000 below 96th street in Manhattan. There are many more I can list. The one thing almost every one of them had in common regardless of budget was sacrifice.

This city is a concrete jungle. It will chew you up and spit you out if you let it. The one thing I have noticed is the people who succeed here, always are willing to do whatever it takes to accomplish the goals that are set.

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Down with OPC. Landlords rollback broker incentives. (via APTcetera…)

April 8, 2011 1 comment

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My colleage and compadre Peter Charles Bright is spot on with this post. It is a piece that I intended on publishing and he may have hit the nail on the head harder than I. Do take time to read this if you are considering renting in NYC this year. Timing is crucial!

Down with OPC.  Landlords rollback broker incentives. OPC how shall I phrase it… I guess I’ll frame by frame it… The O is for Owner and the P is for Paid (c) Commission… OPC or OP’s are the way you get a broker to work for “free” or “no cost” to you. For example on a 2k apartment, the owner jacks up your rent $1-200 and then uses this innocent increase as a marketing incentive, paying a month commission for brokers successful in introducing a renting client to their property. This 1 month comm … Read More

via APTcetera…

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Rents are rising in Manhattan again!

March 20, 2011 Leave a comment

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I have watched the markets around the country plummet and not yet recover over the past six years. Here in Manhattan, that is just simply not the case. There is such an unbalanced set of supply and demand here that you can not imagine until you have lived here.

There are more people than there are apartments to rent. The vacancy rate citywide with rentals is below 1%. To give you an idea, one building in the Financial District that has 51 floors and 650 apartments actually has 3 vacant or soon to be vacant units to rent. That’s it until the next month’s renewals or non-renewals come in.

I got a client this weekend who called me on a three bedroom uptown. Upon talking to her I realized that she was actually trying to find enough space for FIVE people to share for under $3000! There are serious gaps in people’s perceptions of the market here.

Take a look at these statistics.
http://www.cityrealty.com/new-york-city-real-estate/carters-view/

The link above is great if you are thinking of moving into an apartment in Manhattan. I am quite sure many people feel that they can try to do it on their own without a broker. Do realize that it is possible, but you will have a long winding road. Even with a broker it is tough if he or she has no relationships or even worse, a bad one with the managing agents or landlords. There is very little time for the good apartments to be viewed and secured in this current market state. You must be pro-active and not reactive when trying to find a place during this time of year. There is only going to be less to choose from with each day and many young agents don’t realize the cycle of turnaround.

I hope that these facts are helpful in your securing a new home. If you need any help, I am here to guide you home!

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Rookie or Veteran?

March 14, 2011 Leave a comment

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You are here looking for a home. You call or email about a specific place that’s the DREAM home on the perfect tree lined street, only to not get an address, hear that it’s rented or if you are lucky, get taken to a box facing a brick wall.

This is the most in demand market to find a home and the busiest time of year for rentals is approaching fast. The vacancy rate is under 1% again. To put that it in perspective, for every one building with 100 apartments in it, you MAY be able to sublet a room from someone within.

To move is an important decision. Likely one of the more important ones you are likely to make in the next three to four years. To do this and not choose wisely the target of attack is like throwing dice against a wall. Is that really how to chose a home?

There are over 27,000 licensed real estate salespersons in this city. Each year there are about 10,000 transactions. The amount of new agents that actually last in this business is less than 10%. This brings to mind an interesting question.

Would you buy a car from a pizza-maker? Get a haircut from your bank teller?

That’s the likely result when you put your trust in an inexperienced agent. He/She will likey be in another industry when you are looking to purchase in two or three years IF that agent can even find you and secure the right place.

If that’s what you want to spend your time doing, then you can do that without a broker and save the fee if you are able to find a place. This is not the time of year to risk losing the perfect place because someone wants to show you what they want you to see and not take you to what you are telling them you want.

A broker earns the fee for much more than just how many places they show you. A good broker earns the fee for showing you less places that are ALL viable options based off of your needs. There is no way that a rookie can do this without the proper inventory knowledge. There are many managements, co-op/condo owners and developers to choose from. Too many apartments to list that turn over before they can even be listed during this time of year.

The essential functions when using a broker for a rental are to save you time in the initial search, securing the apartment by having the neccessary documentation, saving money over the course of the initial year or two by finding that gem that is NOT available to the public and PERHAPS a below market rent. This is among the many other hats (pun not intended if you know me) we wear. (Board package and interview preparation, relationships with owners/landlords/supers/porters, knowledge of areas for those relocating and other networking possibilities).

Take time to really think about your search for a home and remain open minded about the possiblities. This city is a cornucopia of experiences for you to delve into. Make sure that you are not being led by someone with no sense of the realities in this marketplace.

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The Changing Market for Rentals

November 30, 2007 Leave a comment

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Even with a host of new rental developments over the last three years, at a time where high construction costs are making developers turn to new condominiums, there is a dwindling supply of rental units in the city right now. Many of the buildings you see are converting to condominium or co-operatives. We lost over a quarter of a million rental units in 2006 to this type of conversion.
Finding adequate housing is tougher than ever due to this alone. Coupled with the increase in population due to new hires, relocations, births, etc., you can see the dilema. Where are we all going to live? There are more new condominiums going up in Manhattan than anywhere in the world except China.

Here is a snapshot of the average current market rents as of today.
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Friday, November 30, 2007 – Average Asking Rents

Figures reflect active listings across New York.
Downtown Midtown Uptown UpperMhtn Brooklyn Bronx Queens
Studios $2,548 $2,412 $2,039 $1,242 $1,348 $974 $1,471
One Bed $3,516 $3,716 $2,755 $1,549 $1,927 $1,053 $1,757
Two Beds $5,755 $6,192 $4,663 $2,141 $2,416 $1,538 $2,529
Three Beds $10,756 $11,967 $6,945 $2,455 $3,131 $1,937 $2,940
Four Beds $17,167 $21,792 $11,162 $3,384 $4,102 $1,500 $2,500
Loft (0 Bed) $6,772 $3,540 $3,198 $2,070 $3,000 $4,000
Loft (1 Bed) $6,231 $7,175 $3,409 $1,850 $3,153 $2,137 $3,331
Loft (2 Beds) $9,601 $7,000 $3,700 $3,900 $5,075
Loft (3 Beds& Up)$15,759 $12,373 $3,600 $4,150

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Categories: Rental Market, Rentals
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