The Economic Stimulus Bill has just passed. The big winners in this rescue plan are Americans who can now purchase new homes at lower rates.
This is the opportune time to purchase NYC real estate! Favorable rates are now available on mortgages up to $729,500; up from $417,000. Let me give you two examples where the economic stimulus package really makes a difference. Look at Clarett's condominium project, Forté, in Brooklyn. Apartment 16D- Purchase price of $896,000. 20% down. Interest only mortgage of 5.5%. Including maintenance and taxes, monthly cost of $4225 pre tax. Effective after tax monthly cost is $2550. Apartment 8D- Purchase price of $650,000. 20% down. Fully amortizing 30 year mortgage at 6%. Including maintenance and taxes, monthly pre tax cost is $3975. Effective after tax monthly cost is $2734.
This is a true two bedroom apartment, in a full service luxury building with DRAMATIC views of the city for a monthly cost of renting a studio or small 1BR in the city! The prices for these two bedrooms is comparable to a small one bedroom condo in Manhattan. If you are even considering making a purchase within the next few months, I think we should speak soon.
Friday, February 15, 2008
Thursday, February 14, 2008
THE END OF THE NO FEE SEASON IS RIGHT UPON US!!!
Greetings all. I will cover this once for all of those not in the know. There is only one true "No Fee" rental in this city. That is when you rent from an owner directly. While it can still be done, it's like finding a needle in a haystack. That is why a knowledgable, professional broker will never be obsolete. We save you time, which saves you money. While it may cost you more money up front at lease signing, in the long run, we save you the time and aggravation of looking for three months and putting in dozens of applications until you get a place to call home. As they say, you can't put a price tag on happiness!
When using a broker, a "No Fee" apartment usually refers to us receiving one month of rent towards the broker's fee directly from the owner or management company. If you do the math, you will see that this is a huge discount in itself from the standard 15% of one year's rent charged in Manhattan as the fee. You are basically getting us to give up half of our commission, take a payment from the building or owner directly within 2-8 weeks from move in, making you a happier customer overall. I have actually waited four to six months in some cases for payment, but if it makes my clients happier, I have lived off of ramen noodles and tuna before and can do it again in the lean times ;-)
The first slideshow to the top left, is a Murray Hill, PET-FRIENDLY, Doorman building offered as "No Fee" for IMMEDIATE move in! The OP wil be gone after this coming week! Studios here are currently ranging from $2050-$2350. That is the only size apartment left in the entire building.
I STRONGLY urge you to call me or email me RIGHT NOW if you are looking to move before May. The time is almost here when the concessions will dissappear from the market until October. May through October is the peak rental season in this city. Landlords will not have enough property for the rush of new hires, interns and new students we recieve each year. Even the areas not normally focused on tend to stop giving away these concessions in the busier time of the year. The "fee" is still coming out of your pocket with these rentals, just in a different way. Often, a "no fee" client is just limiting the amount of options available, as the lower monthly rents are often the full fee listings. The "no fee" listings often charge a slightly (5-10%) higher monthly rent than a comparable apartment which is not offering any concessions.
Here's a link to the comprehensive vacancy and rental rates over the last five years as testament to my industry knowledge-->Rentals2002_2006.pdf
For those who still don't believe the HARD DATA FACTS, I have seen this trend happen for three years first hand now. People just DON'T move as much in the winter months, as they are too busy being depressed by the cold, rain and snow or just travelling to visit family and friends to AVOID the weather here. They then ASSUME that it will be easier in the summer, unbeknownst to them it is like a feeding frenzy come that time of year!
I have a host of great LUXURY buildings and also some traditional rentals offering this concession for the next four weeks or so. I can not mention that in the ads on our company website, but I can tell you all about them here.
I can not urge you enough to consider the options.
1: Wait another month or two and get caught in the mad spring/summer rush and have VERY little to choose from.
2: Wait another month or two and have options, but pay a full 15% of one year's rent
3: Move earlier and SAVE big time by taking advantage of a slightly slower (if there is such a thing in NYC) rental market right NOW!
The choice is yours. You need to make the call!
When using a broker, a "No Fee" apartment usually refers to us receiving one month of rent towards the broker's fee directly from the owner or management company. If you do the math, you will see that this is a huge discount in itself from the standard 15% of one year's rent charged in Manhattan as the fee. You are basically getting us to give up half of our commission, take a payment from the building or owner directly within 2-8 weeks from move in, making you a happier customer overall. I have actually waited four to six months in some cases for payment, but if it makes my clients happier, I have lived off of ramen noodles and tuna before and can do it again in the lean times ;-)
The first slideshow to the top left, is a Murray Hill, PET-FRIENDLY, Doorman building offered as "No Fee" for IMMEDIATE move in! The OP wil be gone after this coming week! Studios here are currently ranging from $2050-$2350. That is the only size apartment left in the entire building.
I STRONGLY urge you to call me or email me RIGHT NOW if you are looking to move before May. The time is almost here when the concessions will dissappear from the market until October. May through October is the peak rental season in this city. Landlords will not have enough property for the rush of new hires, interns and new students we recieve each year. Even the areas not normally focused on tend to stop giving away these concessions in the busier time of the year. The "fee" is still coming out of your pocket with these rentals, just in a different way. Often, a "no fee" client is just limiting the amount of options available, as the lower monthly rents are often the full fee listings. The "no fee" listings often charge a slightly (5-10%) higher monthly rent than a comparable apartment which is not offering any concessions.
Here's a link to the comprehensive vacancy and rental rates over the last five years as testament to my industry knowledge-->Rentals2002_2006.pdf
For those who still don't believe the HARD DATA FACTS, I have seen this trend happen for three years first hand now. People just DON'T move as much in the winter months, as they are too busy being depressed by the cold, rain and snow or just travelling to visit family and friends to AVOID the weather here. They then ASSUME that it will be easier in the summer, unbeknownst to them it is like a feeding frenzy come that time of year!
I have a host of great LUXURY buildings and also some traditional rentals offering this concession for the next four weeks or so. I can not mention that in the ads on our company website, but I can tell you all about them here.
I can not urge you enough to consider the options.
1: Wait another month or two and get caught in the mad spring/summer rush and have VERY little to choose from.
2: Wait another month or two and have options, but pay a full 15% of one year's rent
3: Move earlier and SAVE big time by taking advantage of a slightly slower (if there is such a thing in NYC) rental market right NOW!
The choice is yours. You need to make the call!
Wednesday, February 6, 2008
Unique Loft Tour Thursday 2/7/08
I am pleased to announce a great opportunity this week. There will be a loft tour TOMORROW from Noon-2PM in the Gramercy and Flatiron area. Come by and view some great loft properties for live/work.
GRAMERCY/FLATIRON DISTRICT LOFT TOUR
Thursday, February 7th Noon-2PM
303 Park Avenue South #318 $14,000/mth
· Colossal loft spaces for LIVE/WORK.
· Loft Approx. 2500 sq ft.
· Freight Elevator plus Private Elevator for Residence.
· 14'Ceil's with Track Lighting and Oversized Windows Facing South.
· Spacious Living & Work Area with Beautiful Hard Wood Floors. Landlord is Open to Options.
· This is prime location in the Heart of Gramercy and Flatiron Area.
For MORE Pictures, Floor Plan and Virtual Tour click here à318
MIA DELLANNIE
Senior Associate
346 West 57th St.
New York, NY 10019
Mobile: 917-806-3062
Fax: 917-262-7131
mdellannie@citi-habitats.com
All of the brokers and their properties in this tour, are listed below…
· 14 E 17th Street 8th Floor $10,000/mth
· Sotheby's International Realty - John Tennore Mobile -917 496-3621
· 4 W 22nd Street 8th Floor $8,250/mth
· Benjamin James - Yael Gluska Mobile: 917-406-1092
· 303 Park Avenue South #312 $7,000/mth and Unit #318 $14000/mth
· Citi-Habitats Inc. – Mia Dellannie- Mobile: 917-806-3062
· 260 Fifth Ave Apt 2N $9,000/mth
· Brown Harris Stevens Residential Sales, LLC - Mary A. Vetri –Mobile - 917.969.0048
· Brown Harris Stevens Residential Sales, LLC - Jennifer M. Russell – Mobile - 917.324.4822
· 15 E 30 Apt 300 $5700/mth
· Citi-Habitats Inc. – Mia Dellannie - Mobile: 917-806-3062
· 655 Sixth Ave Apt 5H $12,500/mth
· Citi-Habitats Inc. - JENNY WEST-D'ALBA - C: 917-991-6063
GRAMERCY/FLATIRON DISTRICT LOFT TOUR
Thursday, February 7th Noon-2PM
303 Park Avenue South #318 $14,000/mth
· Colossal loft spaces for LIVE/WORK.
· Loft Approx. 2500 sq ft.
· Freight Elevator plus Private Elevator for Residence.
· 14'Ceil's with Track Lighting and Oversized Windows Facing South.
· Spacious Living & Work Area with Beautiful Hard Wood Floors. Landlord is Open to Options.
· This is prime location in the Heart of Gramercy and Flatiron Area.
For MORE Pictures, Floor Plan and Virtual Tour click here à318
MIA DELLANNIE
Senior Associate
346 West 57th St.
New York, NY 10019
Mobile: 917-806-3062
Fax: 917-262-7131
mdellannie@citi-habitats.com
All of the brokers and their properties in this tour, are listed below…
· 14 E 17th Street 8th Floor $10,000/mth
· Sotheby's International Realty - John Tennore Mobile -917 496-3621
· 4 W 22nd Street 8th Floor $8,250/mth
· Benjamin James - Yael Gluska Mobile: 917-406-1092
· 303 Park Avenue South #312 $7,000/mth and Unit #318 $14000/mth
· Citi-Habitats Inc. – Mia Dellannie- Mobile: 917-806-3062
· 260 Fifth Ave Apt 2N $9,000/mth
· Brown Harris Stevens Residential Sales, LLC - Mary A. Vetri –Mobile - 917.969.0048
· Brown Harris Stevens Residential Sales, LLC - Jennifer M. Russell – Mobile - 917.324.4822
· 15 E 30 Apt 300 $5700/mth
· Citi-Habitats Inc. – Mia Dellannie - Mobile: 917-806-3062
· 655 Sixth Ave Apt 5H $12,500/mth
· Citi-Habitats Inc. - JENNY WEST-D'ALBA - C: 917-991-6063
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