I've been doing this for many years now and have learned that regardless of where the economy goes, what direction Wall St. takes; there will be a huge surge in the rental market in the next 4-6 weeks. Stastically speaking warm weather brings change of address for many current and hopeful New Yorkers.
In a business where planning as well as timing is everything, the city and outer boroughs will see hoards of people seeking to come here, upgrade or sometimes downgrade in NYC.

Simply put: Rents are going to increase as lack of supply and heavy demand for inventory increase. Now is the time to get a "deal" before the rush. Some factors to consider that can make your search more challenging: if you are a pet owner, landlord incentives (free rent, partial payment towards broker fees, delayed move-in on apartments that are immediate occupancy disapearing, shaving a few dollars of the asking rent),having less than stellar credit. As the busy season approaches landlords become increasingly un-willing to "work with tenants". They in turn can become more demanding in what they require and also tend to become pretty inflexible to any specific needs the prespective tenant(s) may have.

I'd suggest to anyone who is thinking about moving, it may be best for you to move earlier, if you can't handle the roller coaster ahead.

That said, I'm currently doing push-ups and drinking energy drinks in preparation of the spring/summer season which is actually my favorite. I love a challenge :)and I enjoy making the seemingly impossible, quite possible. I am known for managing to keep a cool head, holding hands and offering free therapy to my clients until they are able to secure a lease.

I hope you were educated by my long seque-way into an article I'm posting. I see similar articles like this one each season.





Apple a renter’s market
Bargains may bloom as cold winds of real-estate slide hit New York
by patrick arden / metro new yorkMAR 20, 2008

MANHATTAN. As the rest of the nation has been caught in a dangerous real-estate roller coaster, New Yorkers — and especially Manhattanites — have told themselves that their city’s prized real estate was not subject to the same bubble economics. And the numbers have agreed: last year ended with the average price of a Manhattan apartment at a whopping

$1.4 million, a record.

Such lofty prices help explain why New York is a city of renters. But a report released yesterday found that rents for one- and two-bedroom apartments in Manhattan went down last month — and the rental market is considered the last place economic woes would be reflected.

According to the Real Estate Group, which examines Manhattan rental listings under $10,000, the average rent on a one-bedroom apartment in a doorman building was $3,578 this month, 2.3 percent less than a year ago. Two-bedrooms in doorman buildings cost $5,265, a 5.2 percent drop from their average rent in March 2007.

Declines were seen in Harlem, the Upper West Side, the Upper East Side, Midtown West, Chelsea, Gramercy Park, the East Village and SoHo. Prices were up, however, in Midtown East, Murray Hill and the Financial District. And many studio apartments still rose last month.

“Anticipated job cuts and the depressed dollar seem to have planted the seeds of doubt in the minds of many New York consumers,” said Daniel Baum, chief operating officer of the Real Estate Group. Baum believes “just as many people want to live in Manhattan today as they did two years ago,” when rents were skyrocketing. His advice? If you’re planning to move, move now.

New York real estate: South Slope -- amNY.com

New York real estate: South Slope -- amNY.com

Federal Court Rejects Atlantic Yards Appeal:

Federal Court Rejects Atlantic Yards Appeal: Full Coverage
A federal appeals court rejected an appeal by critics of the use of eminent domain in the $4 billion Atlantic Yards mega-project in Brooklyn, a big, if expected, victory for developer Forest City Ratner, and surely a demoralizing blow to project opponents.

The decision nearly puts to rest the legal chapter of this years-long, high-profile development battle. Since the plan was approved more than a year ago, the courts have been the focus of any attention, as Forest City chairman Bruce Ratner has done little work on the Prospect Heights site other than demolitions and some other preparation.

The rejection leaves opponents with few legal avenues left, as the appellants on the lawsuit would need a decision by the U.S. Supreme Court to merely be granted a trial in the case, let alone to come out victorious. Critics had said they put their highest hopes at the federal appellate level, and have previously conceded that it was unlikely the Supreme Court would take the case (the court only hears a few dozen cases a year).




http://www.observer.com

The Real Deal - New York Real Estate News

Real Estate Mysteries: Behind Manhattan's only freestanding house


The Real Deal - New York Real Estate News

Answers About Tenant-Landlord Issues - City Room - Metro - New York Times Blog

Very Useful article which addresses some of the most common questions I am asked...


Answers About Tenant-Landlord Issues - City Room - Metro - New York Times Blog

Pocket Change - Newsletter

JUST WHEN YOU THOUGHT PRICES COULDN'T GO ANY HIGHER....

Pocket Change - Newsletter

Only on television do "struggling artists" manage to struggle so comfortably.

Live Like a Supermodel, But With a Better Apartment - New York Magazine's Daily Intelligencer

Think back to that nationally broadcast dose of NY sitcom unreality that has misguided and in some instances permanantly damaged the expectations of some of my relocation clients... "Friends"...

Leave It With the (Virtual) Doorman - New York Times

Leave It With the (Virtual) Doorman - New York Times

What do you think about this? On one hand the person who's self-sufficient or very private would probably see it as a plus...but the person who needs the sense of security felt by having someone downstairs may not feel it's enough.

Do you think this will take off and perhaps replace the traditional doorman?

Happy Holidays!!

Happy Holidays and a prosperous New Year to all!

New York Real Estate: Calculating Your Real Square Footage -- New York Magazine

This is why I always have told my clinets not to fixate on sq ft. Think more in terms of what furnishings you will use and how each room will be utilized...New York Real Estate: Calculating Your Real Square Footage -- New York Magazine