Navigating Rentals New York City

WELCOME TO THE BIG APPLE! YOU’RE GONNA LOVE IT… and hate it all the same time.

It’s no surprise that New York City is an expensive place to live (something that I discussed in another post a few months ago). So much so, that back in 2005, the Political Party “The Rent Is Too Damn High” was started. I actually had the privilege of sitting down the founder Jimmy McMillan my Junior year of college studying at the local Starbucks. Albeit, his large personality and theatrics, came off as a gimmick, but he foresaw the inevitable future of his Brooklyn neighborhood. Today, being in the real estate industry and seeing the transformations of neighborhoods, to which the rental prices [and sales] keeps creeping up, I sit back and reflect on my discussions with McMillan, and can’t help but to say to myself “damn, the rent is too damn high and Jimmy knew it would happen.”

Renting in Manhattan and Brooklyn can be tricky. The prices for the little bit of space you get can really hurt your heart, and pocket. I know this might sound cliché because I’m a broker, but I’m going to say it anyway, GET YOURSELF A FANTASTIC BROKER TO HELP YOU SEARCH FOR A HOME! Let’s discuss a recent transplant to NYC from South America. Probably one of my favorite clients to date, why? He knew he wanted and was on a mission to find it, BUT, he also let me guide him and to me that was truly the ultimate sign of respect. Our very first conversation he gave me his budget, his needs, wants, and told me where he worked, so he wanted to be close to transportation (a must in NYC) but also have an easy commute. Without me opening my mouth, he says “I don’t want Long Island City (LIC). I want downtown maybe around Union Square.” I let him speak and then rebutted with, “given everything you’ve told me thus far, I would tell you lets look at LIC. I know you don’t want it, but I ask you to keep an open mind.”

After a couple of trips to LIC, we narrowed down the building and took a few trips to narrow down which apartment would be the perfect fit. I’m happy to say, the client took my lead and will be moving in to his new LIC abode this Saturday! Not only was he impressed at what LIC had become (he’d been here over a decade ago) and how much more he was able to get for his budget, but he asked lots of questions I was able to answer for him; why? Because I live, eat, breathe NYC and I genuinely take great pride in what I do.

In a pricey rental [and sales] market such as NYC, it’s insanely important to get a broker who knows their shit. Not someone eager to close a deal and will pressure you, or someone who doesn’t take you seriously because you’re not spending $10,000/month, but an agent who will get to know their clients, get to know their needs and help guide you through the market to aide in your decision.

Want to learn more on rentals in Manhattan, Brooklyn or Queens, feel free to reach out – sarah.radafshar@elliman.com

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