NYC Apartment Agent

New York real estate + beyond

Find Your Starter Apartment Deal

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NYC Apartment Agent: A one-bedroom in Greenwich Village

NYC Apartment Agent: A one-bedroom in Greenwich Village

By the time they find takers, these apartments’ average final asking prices are significantly lower than their original price tags—down from $432,966 to $411,737 for studios and $645,850 to $628,679 for one-bedrooms—whereas average prices for two- and three-bedrooms actually went up in August. — “The Starter Jackpot:  For buyers, the big opportunity is in smaller apartments,” New York Magazine, Sept. 25, 2011

NEW YORK — Uncertain economic times are keeping some people from taking the plunge and buying a new home.

We have seen evidence of this in the hyper-active rental market. With less than a 1 percent vacancy throughout the city it is quite clear that a large group of would-be buyers have decided to sit it out and rent until things on Wall Street stabilize.

That said, even during uncertain times there is always an opportunity to be found — if you know where to look.

Right now the number of studio and small one-bedroom apartments is at an all-time high. When inventory increases prices tumble, and we are now seeing buyers, primarily young, first-time buyers assisted by their parents, entering the marketplace and taking advantage of low prices.

Why rent for $2,000 a month when you can own for the same monthly payment?

Interest rates are still hovering around 4 percent, and with a decline in the price of smaller apartments there is great opportunity for savvy shoppers.  Below is an article which talks further about this opportunity. I hope you enjoy it as much as I did.

As always, if you or someone you know is thinking about buying, selling or renting an apartment in NYC please let me know.

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  1. […] Find Your Starter Apartment Deal Advertisement GA_googleAddAttr("AdOpt", "1"); GA_googleAddAttr("Origin", "other"); GA_googleAddAttr("theme_bg", "ffffff"); GA_googleAddAttr("theme_border", "f3f3f3"); GA_googleAddAttr("theme_text", "1c1c1c"); GA_googleAddAttr("theme_link", "004276"); GA_googleAddAttr("theme_url", "cc0000"); GA_googleAddAttr("LangId", "1"); GA_googleAddAttr("Autotag", "business"); GA_googleAddAttr("Tag", "apartments"); GA_googleAddAttr("Tag", "co-op"); GA_googleAddAttr("Tag", "co-operatives"); GA_googleAddAttr("Tag", "condo"); GA_googleAddAttr("Tag", "condominiums"); GA_googleAddAttr("Tag", "new-york"); GA_googleAddAttr("Tag", "real-estate"); GA_googleAddAttr("Tag", "rentals"); GA_googleAddAttr("Tag", "sales"); GA_googleAddAttr("Tag", "apartment"); GA_googleAddAttr("Tag", "apartments"); GA_googleAddAttr("Tag", "manhattan"); GA_googleAddAttr("Tag", "new-york"); GA_googleAddAttr("Tag", "nyc"); GA_googleAddAttr("Tag", "real-estate"); GA_googleAddAttr("Tag", "rents"); GA_googleAddAttr("Tag", "sales"); GA_googleAddAttr("Tag", "soho"); GA_googleFillSlot("wpcom_sharethrough"); Share this:MoreLike this:LikeBe the first to like this post. […]

  2. […] article, with a headline similar to my previous post, “Find Your Starter Apartment Deal,” followed actual apartment hunters in their search of the perfect New York City […]

  3. […] the past, and for as long as I can remember, singles rented small apartments, moved into larger spaces when they became a couple and then packed up the car and headed to […]


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