Looking for a $1K studio apartment around here and a shot of excitement? Check out this actual and current description from this here ad:
Elevators! Heat/Water Included! In Prospect Park! New Kitchens! Lots of Sunlight! Wood Floors! 1 month fee! Many Studio Apartment on rent! Presently 3 Studios Available! Allow 1 Hours to show apartment area around! Details for private viewing Contact Laila! 718 926 0026! Flatbush Ave at Caton Ave!
Someone asked me just the other day...can you find decent studios in our neighborhood for UNDER $1,000? Anyone?
16 comments:
Awhile back (a year ago?) 80 Winthrop had a tiny studio for rent at about $725. It's a clean building with laundry on the first floor. Not sure what they are renting now but you could reach out to the management co., Maxx Properties (914) 899-8000.
i was able to get my studio rent lowered to $950, after originally moving in at $1000...
80 Winthrop is a co-op conversion. As rent-stabilized (sponsor-owned) units are vacated Maxx sells them as co-ops. The only new rentals becoming available at 80 Winthrop are sublets of individually-owned units and Maxx wouldn't be able to help with that unless the owner had asked it to (generally not the case).
I recently moved to a nice, recently renovated studio in Westbury Court. I pay $1,000.
Where is that?
josh
Babs,
Your information about 80 Winthrop is incorrect all around. Co-op share owners are prohibited from renting because of the house rules and the couple of units being pushed for rent currently are under-the-table. Sponsor units do come up for rent, though not regularly, and perhaps none this year. The line about all units being for sale is an untruth peddled by realtors who sell in the building who want to make it seem more stable and exclusive than it is. It is a nice building. Filled with a great number of renters.
It is your information, Anonymous, that is incorrect all around - owners are allowed to sublet their apartments out for one year, with board approval, and with annual renewals thereafter, also with board approval. I recently handled the rental of a unit in the building, preparing the board package for the tenant, who was subsequently interviewed and approved by the board. There was nothing "under the table" about it - we followed procedures clearly outlined in the co-op's house rules. I also have represented a few buyers there (although not of sponsor units - one particular real estate agent has all of those listings, and she's not a fan of co-broking, despite Real Estate Board of NY rules that she is subject to). The remaining renters in the building of sponsor units are rent-stabilized tenants who chose not to buy their units when the building went co-op. By law, they are protected by rent stabilization rules guaranteeing them a renewal lease ad infinitum, so long as they are not in default. Once a rent stabilized tenant moves out the sponsor renovates the unit and places it for sale with the above-mentioned broker. If the unit fails to move within a certain time (not very common an occurrence, since these units tend to go fast) the sponsor may consider renting the unit out, but it is no longer rent-stabilized and therefore rents at market rates, currently over $1000 for a studio.
Babs: There was a sponsor rental for $925 listed and rented just this year
http://www.elliman.com/new-york-city/brooklyn/prospect-lefferts-gardens-apartments/xtsssnd
Which makes sense since most of the units sell very slowly or not at all.
T3: 404 days on market and counting
Have a look at the building on Streeteasy Anonymous - there have been three sales recorded in 2011 at 80 Winthrop St., three in 2010, and 10 in 2009. Not too bad for a not-so-great real estate market overall. Currently there are five units on the market (four resales and one sponsor unit) and one in contract (another sponsor unit). There are no units currently available for rent. The most recent rental was a studio, individually owned, which rented for $900/month in July. The apartment to which you refer, a sponsor unit, rented in August 2010; this appears on my database, although not on Streeteasy, which is not always accurately updated. Seems like sales outpace rentals here.
Babs, This is a silly conversation but just to close it on my end: I started off by saying that a year ago, the building had a cheap rental and you felt the need to object and say that the sponsor doesn't rent. Well now you admit that the sponsor did rent.
It bothers me that real estate professionals like to pretend that there is a secret knock or process to get into a decent building. They can't be trusted--when I was looking to purchase in 80 Winthrop, the agent told me time and again that no shareholders were allowed to sublet and that the sponsor also didn't rent. Of course, then I saw several rental ads for the building on Craigslist and decided not to purchase because clearly I wasn't getting the truth.
So anyone who is interested in any building: Call the management company and they will be all too happy to tell you whether or not they have vacancies or whether they work with a broker or whether they no longer rent. But don't let some broker or agent who has self-serving or incorrect information tell you anything.
Deleting comments is poor moderation. *Gone*
anon: if you're referring to that comment that i just restored, it wasn't deleted. it ended up in spam. i'm too busy at work to be bothered with deleting comments. i trust y'all. if i see something that looks vicious or pornographic, i'll probably step in. and of course i reserve the right to delete my own comments. that's my moderation policy, and i'm sticking to it. today.
Actually Anonymous that little experience you had at 80 Winthrop just serves as another example of why a buyer should always work with his/her own broker. The seller's broker is just that - someone who is working for the seller and has the duty to look out for the seller's interests (although misstating the facts is either dishonesty or ignorance or both ). The seller's broker is not on your side. Anytime you buy or rent a property without your own broker you're out there on your own. Some people are fine with this and it usually works out but in cases like you experienced you're better off with reinforcements. And the fact that the sponsor did once, one year ago, in a different real estate market, rent out a small studio (if you know the V line you know how small it is) that failed to sell does not imply that they do so on a regular basis. However, call away to Maxx Management in White Plains - they'll be happy to refer you to their exclusive broker here in Brooklyn who already has everything posted on her website.
I pay 950 for my studio, on lincoln rd btw washington & bedford.
I pay $875 on East 21st between Caton and Woodruff.
I like the fact that you give people the possibility of checking out the area. It is a good service that distinguishes you from the rest. When I travelled to Argentina, I had to rent buenos aires apartments for me and all of my friends (we were all going with our husbands as a kind of vacations among friends). I was in charge of accommodation and I wanted alll of us to stay in relatively close flats, meaning, the same neighbourhood. I carried out extensive research abot the best possible location. There was a company that showed me videos of the locations till I chosed one. The videos service was something I really appreciated!
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