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NYC Apartments: stuyvesant town/peter cooper

supabeastsupabeast Registered User regular
edited January 2009 in Help / Advice Forum
I’m looking at Manhattan apartments and was blown away by the deals I can get on Stuyvesant Town/Peter Cooper Villiage. This is making me a little suspicious about why those places aren’t renting out for $500-$1000 more than they are. But given the back story and the mortgage markets I also wouldn’t be surprised if it’s legit and just getting hit by the economy. Is there some horrible secret keeping New Yorkers out of that neighborhood? Is it just not cool enough?

supabeast on

Posts

  • Lux LivingLux Living Registered User
    edited January 2009
    Stuyvesant Town / Peter Cooper Village is under new ownership / management and they are driving the place into the ground. They are dragging rent stabilized tenants to court so they can convert their apartments to market rate. Market rate tenants pay approximately $3,000+ for a one bed room with a 25% + rent increase at lease renewal.

    Aside from that, there is non-stop construction projects at all hours of the day / night, the "new technology" they implemented to control the heat leaves many without any, and this past fall several building where without gas for almost two weeks with no compensation.

    The property is most likely going to foreclose in the next two years so it's anyone's guess what's going to happen to it.

    I would do some more research before making the move:

    http://www.apartmentratings.com/rate/NY-New-York-Stuyvesant-Town.html
    http://www.stuytownluxliving.com

  • starlanceriistarlancerii Registered User regular
    edited January 2009
    haha, wow, that majorly sucks.

    But yeah, generally if something seems too good to be true, it usually is; you get what you pay for. I managed to find a pretty good place in Queens for a cheaper rent than I expected, but it turned out that the window of my room leaks during hurricane-intensity storms (which is, fortunately, very rare), and the shower is sometimes lukewarm. Still livable, but this was probably the reason why it was marked down compared to the apartments in the area...

  • YourFatAuntSusanYourFatAuntSusan Registered User
    edited January 2009
    I'm just curious, these prices you're mentioning, they can't actually be monthly can they? Cause, man, I'm paying like $600/month mortgage for a three bedroom house with 4 acres in the country up here in Soviet Canuckistan.

    Location I guess.

    [SIGPIC][/SIGPIC]
  • WootloopsWootloops Registered User
    edited January 2009
    That's NY prices for you. Prices are similar in Stamford or Boston as well. A studio, hole in the wall apartment runs at around $1,100 give or take a hundred.

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  • DeathwingDeathwing Registered User regular
    edited January 2009
    Location I guess.

    Many of the large cities on/near the US east coast are like this, although NYC tends to be among the worst - $1300/month for our 1-bedroom condo here in the DC area.

    Can't wait to move outta here in a couple years and hopefully buy a full house for as much or less in another area.

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  • illigillig Registered User regular
    edited January 2009
    I'm just curious, these prices you're mentioning, they can't actually be monthly can they? Cause, man, I'm paying like $600/month mortgage for a three bedroom house with 4 acres in the country up here in Soviet Canuckistan.

    Location I guess.

    some people in midtown have a higher mortgage on a parking space than you do on your entire property

    so yeah... location, location, location

    as far as Stuy Town, I have some friends who live there and they love it... large, older apartments for decent prices, and no broker fee... if they try to jack up the rent astronomically at renewal time, just move

    you can read up on the Stuy Town issues in lots of blogs, such as: http://stuytownluxliving.com/

    but keep in mind that most of these are written by bitter rent stabilized old farts who feel some sort of entitlement to their dirt cheap apartments, and are up in arms over Tischman Speyer's take over and legal evictions

    personally, i've just moved to Brooklyn... a large 1br for $1500 in south slope

  • cooljammer00cooljammer00 Hey Small Businessman!Registered User regular
    edited January 2009
    Well that kills any hope of living alone on the East/West coast. Shit's expensive.

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    I pronounce it bee-log. Most recent entry: VIDEO GAMES: GUNPOINT, OR A SCIENTIFIC STUDY ON WHAT HAPPENS WHEN GLASS MEETS TROUSERS.
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  • DogDog Registered User, Administrator, Vanilla Staff admin
    edited January 2009
    Shit's expensive in New York City.

  • SkyGheNeSkyGheNe Registered User regular
    edited January 2009
    Well that kills any hope of living alone on the East/West coast. Shit's expensive.

    Hah - north carolina rent? 250-500 with space.

    Not that hard. It's the cities where shit gets expensive.

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  • TheGreat2ndTheGreat2nd Registered User
    edited January 2009
    robothero wrote: »
    Shit's expensive in New York City.

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  • cooljammer00cooljammer00 Hey Small Businessman!Registered User regular
    edited January 2009
    alright, alright. But I live in Brooklyn right now. Have lived here for all my life. I like NYC.

    When I move out and live on my own, I'd like to live in NYC. But apparently this town is only for richers.

    steam_sig.png

    I pronounce it bee-log. Most recent entry: VIDEO GAMES: GUNPOINT, OR A SCIENTIFIC STUDY ON WHAT HAPPENS WHEN GLASS MEETS TROUSERS.
    3DS Friend Code: 2165-6448-8348 www.Twitch.TV/TheJohnDarc
  • ZekZek Registered User regular
    edited January 2009
    alright, alright. But I live in Brooklyn right now. Have lived here for all my life. I like NYC.

    When I move out and live on my own, I'd like to live in NYC. But apparently this town is only for richers.

    If you want a decent solo apartment in Manhattan you better be ready to pay big bucks. There really isn't any way around that.

    Brooklyn is part of NYC btw...

  • cooljammer00cooljammer00 Hey Small Businessman!Registered User regular
    edited January 2009
    Zek wrote: »
    alright, alright. But I live in Brooklyn right now. Have lived here for all my life. I like NYC.

    When I move out and live on my own, I'd like to live in NYC. But apparently this town is only for richers.

    If you want a decent solo apartment in Manhattan you better be ready to pay big bucks. There really isn't any way around that.

    Brooklyn is part of NYC btw...

    Hey, you don't think I know that? This is the same person who gets upset when people refer to Brooklyn as being part of Long Island. I just meant the "city" city.

    steam_sig.png

    I pronounce it bee-log. Most recent entry: VIDEO GAMES: GUNPOINT, OR A SCIENTIFIC STUDY ON WHAT HAPPENS WHEN GLASS MEETS TROUSERS.
    3DS Friend Code: 2165-6448-8348 www.Twitch.TV/TheJohnDarc
  • Gabriel_PittGabriel_Pitt (effective against the Irish) Registered User regular
    edited January 2009
    SkyGheNe wrote: »
    Well that kills any hope of living alone on the East/West coast. Shit's expensive.

    Hah - north carolina rent? 250-500 with space.

    Not that hard. It's the cities where shit gets expensive.
    Actually, it'd be more accurate to say, 'where lots of people want to live, shit gets expensive.'

    Origin ID: Null_Cypher
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  • cooljammer00cooljammer00 Hey Small Businessman!Registered User regular
    edited January 2009
    I suppose that is true. I do want to live where people want to live.

    steam_sig.png

    I pronounce it bee-log. Most recent entry: VIDEO GAMES: GUNPOINT, OR A SCIENTIFIC STUDY ON WHAT HAPPENS WHEN GLASS MEETS TROUSERS.
    3DS Friend Code: 2165-6448-8348 www.Twitch.TV/TheJohnDarc
  • DogDog Registered User, Administrator, Vanilla Staff admin
    edited January 2009
    Philly isn't all that expensive unless you want a lux downtown place

  • TheGreat2ndTheGreat2nd Registered User
    edited January 2009
    Zek wrote: »
    alright, alright. But I live in Brooklyn right now. Have lived here for all my life. I like NYC.

    When I move out and live on my own, I'd like to live in NYC. But apparently this town is only for richers.

    If you want a decent solo apartment in Manhattan you better be ready to pay big bucks. There really isn't any way around that.

    Brooklyn is part of NYC btw...

    Hey, you don't think I know that? This is the same person who gets upset when people refer to Brooklyn as being part of Long Island. I just meant the "city" city.

    hahaha lol
    city city
    THE city

    I would love to live in Williamsburg (hipster yuppie much?)
    Though, I'm not sure how the prices compare to the city

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    I'm Jacob Wilson. | facebook | thegreat2nd | [url="aim:goim?screenname=TheGreatSecond&message=Hello+from+the+Penny+Arcade+Forums!"]aim[/url]
  • reddogreddog Registered User regular
    edited January 2009
    Definitely need to do more research. I'm living in a 1 huge 1 bedroom with hardwood floors in Brooklyn (NOT YUPPIE WILLIAMSBURG....Bensonhurst) for $900 which includes heat & hot water. The commute into the city is not bad at all. There's no reason to live in the city (and I mean Manhattan) when you can get a larger, cheaper apartment in Brooklyn or even Queens.

    reddog.png
  • SkyGheNeSkyGheNe Registered User regular
    edited January 2009
    SkyGheNe wrote: »
    Well that kills any hope of living alone on the East/West coast. Shit's expensive.

    Hah - north carolina rent? 250-500 with space.

    Not that hard. It's the cities where shit gets expensive.
    Actually, it'd be more accurate to say, 'where lots of people want to live, shit gets expensive.'

    Well, NC has raleigh and such and it's bustling with young people. The south just has a cheaper means of living.

    The price you pay is with the people.

    sig.jpg
  • TheGreat2ndTheGreat2nd Registered User
    edited January 2009
    Bensonhurst, Bay Ridge, Sheepshead Bay
    All near subway stations, and all nice quiet neighborhoods that are only half an hour away from the city.

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    I'm Jacob Wilson. | facebook | thegreat2nd | [url="aim:goim?screenname=TheGreatSecond&message=Hello+from+the+Penny+Arcade+Forums!"]aim[/url]
  • MurphysParadoxMurphysParadox Registered User
    edited January 2009
    The part that annoys me most about living where I do (Fairfax VA, which borders DC... I can get to downtown in 30 minutes of non-rush hour traffic) is that, with any major city, is that cost of living grows faster than salary.

    We pay $2300/month mortgage for a 27 year old 1700 sqft townhouse - good neighborhood and it is in great condition. My sister-in-law pays $800 for a much older (with all the associated pros such as hardwood everywhere, and cons such as no grounded circuits in the living room) similarly sized single family home in a nice neighborhood of Pittsburg (and it even has a yard with trees). However, she + fiance make 60% what me + wife make. 40% less income with 65% less housing cost... they also spend less on food and gas (yet, she still thinks we are rich).

    Of course, we can get to the DC museums and fantastic restaurants in about an hour while she can't. And who'd want to live in Pittsburg anyway?

    (jealous? never! nope! well... ok, maybe a little)

    Murphy's Law: Whatever can go wrong will go wrong.
    Murphy's Paradox: The more you plan, the more that can go wrong. The less you plan, the less likely your plan will succeed.
  • supabeastsupabeast Registered User regular
    edited January 2009
    Well, it looks like we decided to settle in the Village for $4000 a month. Yes it’s crazy expensive, but (hopefully) it will impact our careers very positively and pay for itself. Or we’ll both get laid off and have a giant fucking lease to deal with. I hate recessions…

  • DogDog Registered User, Administrator, Vanilla Staff admin
    edited January 2009
    wow, 4000 is pretty outrageous heh

  • TheGreat2ndTheGreat2nd Registered User
    edited January 2009
    Daaaaaayyyuummmm
    $4000 is a nice chunk of change
    At least the Village is nice

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