When taking a deep dive into real estate in New York City, every broker will tell you the same thing. Location, location, location. Think of the City as an apple if you will. The closer you get to the core, the more expensive the housing becomes. And that’s because that’s where all the action is– shops, restaurants, commerce, grocery stores, banks, theater, cultural institutions, transportation, and of course Central Park. But the prices become scary!
However, if you stay on the outskirts closer to the edge, not only will you get a bird’s eye view of the Big Apple but you have the chance to get so much more for your money, even though additional steps are required on the daily to move about. But this tradeoff can turn the idea of location, location, location on its head.
I knew that once I started looking for an apartment that it was going to be a bit of an emotional rollercoaster. Although my space was listed, I had no way to predict when it might sell. So I couldn’t be sure of my moving window. And in New York we used to say that when you look for a home, you go checkbook in hand. Meaning that if you find THE ONE, be prepared to commit on the spot or someone else will take it five minutes later. This is so true. But because my unit could sell in a heartbeat (it’s fabulous) I had to be ready to go if an all cash offer came in at ask and they demanded a quick close. If I wasn’t so lucky and an offer was not forthcoming, I had to deal with carrying two places at once until I could unload my property. So much pressure and so many unknowns. So break out the popcorn, friends! Here’s how it all went down…
My goal was to find a charming two bed/two bath rental unit as close to my current apartment as possible. After much reflection on where I wanted to be, I came to the obvious conclusion that I actually like where I live. Staying close meant not changing my garage, keeping my dry cleaner, having the same commute to the airport and an easy out to New Jersey and Pennsylvania. Plus the hyped grocery store Wegman’s is set to open soon and I’d be a fool to move out when Weggers is about to move in, right? Also I was sure I wanted a rental only building to avoid settling in and having Sheila the owner tell me three years into my sublet that her grandson Ethan would be taking over next fall after he graduates from Michigan. Armed with my must haves of an in unit washer and dryer, some sort of common outdoor space, and a doorman, I hit the online hotspots to start my ambitious search.
The very first unit I looked at was slightly larger than what I really needed and slightly above the mental budget as well. It was in an older building but the entire floorplan had been renovated. We are talking a new kitchen with shiny new appliances, new floors, blinds and closets. The works. The cons… the toilet was so low to the ground that it looked like a plastic potty that a little kid would train on. I was completely bewildered and speechless. And the bathtubs were equally low– I doubt any adult would be able to take a bath and have the water cover even half of their body. Plus even though the closets were “done,” they looked like your boyfriend’s Uncle Vito might have come in after hours with the late night “crew” to do the job with flashlights. Uneven, unpainted, sharp edges. Know what I’m tawkin’ about? Appreciate the effort Unc but yeah, not good. Add to that the lack of any outdoor space and even though the prime location was a draw, the apartment was a fast no.
At the next site I thought I hit the jackpot. I toured a freshly renovated unit on the penthouse floor that I really liked. The greyish wood floors, new kitchen and the gigantic windowed corner drew me in. The problem was that they created a makeshift third bedroom by awkwardly splitting the main living area. Even though the overall square footage was good, the third bedroom was barely big enough to fit a desk and this left the living area with only a small space to house a table and couch. And no, tearing down the wall was not an option for lowly renters like myself. (Yes, I asked.) Ugh. So close!
So by the time I looked at a fabulous yet unrenovated unit in their neighboring tower later that day, I could see the good bones and the huge potential. And lemme tell ya, the view was nothing short of spectacular. The bedrooms were a decent size. I thought I might be able to improve the closets. And the price was right. And did I mention the view? So I had a long chat with the agent, hoping they would decide to renovate and I’d surely send in application to be first on the list to get the lease. But I was unapologetically told that although most units that turned over were automatically slated for renewal, THIS particular one was not. And there was no talking the leasing director into changing his mind. I had two sleepless nights of hope followed by a heartbreaking and unequivocal no. Final answer. Instead of being torn up over this temporary loss, I leaned into the uncertainty of discovery. Surely there was something better in my real estate future! And I pressed on.
Coming in at the very top of my price range, the next building was unbelievably nice. Built only a few years ago and having prime access to Broadway, the subway and all the Upper West Side action, it had a lot of glass, gorgeous finishes and the smallest rooms one could imagine. The primary bedroom could not fit a queen sized bed AND a nightstand on the same wall. And the agent looked at me like I was a diva for even wanting that… IN MY OWN HOME. But she assured me that a larger unit would be available come spring for an even heftier price. Lucky me.
Door number four was again in an amazing location with huge windows, but almost no storage, worn wooden floors and very low ceilings. I don’t think it qualifies as a “walk in closet” if only your left foot can move about comfortably? While I was self-touring the space, another would-be renter entered the fray. He was looking to move from the building in the top of my price range right next door and thought this building to be infinitely more reasonable. He was right about that. But I guess he overlooked the ceiling issue and planned to cover the hardwood. I had to pass on this one but I’m hoping he took it! Good luck, Doug.
Already exhausted by the search I was pleasantly surprised by a neighboring building, second to last on my list. The eleven foot ceilings, great light, southern exposure and new floors offset the inadequate closet situation and slightly worn appliances. The common areas were amazing with a climbing wall, gigantic gym and even a pilates studio. Of course with the hefty added amenities charge per month residents had unlimited access. The apartment had potential but when I exited I found myself already making a mental list of the things I’d have to alter.
And then it happened. The next day I hit the real estate lottery. I was not two steps into my final tour when I announced loudly to the agent that I’d be taking the apartment. That’s how quickly they had me at hello! The entire unit had been gut renovated a week prior and painters were still putting the finishing touches on the trim. The wide plank blond floors were gorgeous. The kitchen was immaculate with quartz countertops and a tiled backsplash. The bedrooms were generous and the closet space was amazing. And… the unit had a private terrace that was bigger than my first NYC apartment! Ya, not even kidding. Wow. I learned the difference between a terrace and a balcony. (There’s a difference, you ask? Why yes. A terrace is attached to a structure while a balcony is free standing. A-ha!) So I measured every wall, room and corner I could and I snapped a bunch of shaky pictures because I was so excited!
And then I asked about securing the lease. The agent quickly informed me that it was a first come basis. As long as I had my app in and I qualified, the apartment could be mine. I felt like I was on a real estate game show. Then she told me that immediately following my tour, she had another couple coming back to see the unit the wife had loved the day before. Oh, Jeez! So there was serious competition. Armed with this critical information I asked her to send me the link so that I could complete the paperwork. I literally ran home, hopped onto my laptop and quickly attached my identification, proof of income, linked my bank accounts and completed their “short” twenty page questionnaire about pets, guarantors, building policies, and common areas in record time. My app was fully submitted by 3:58pm, a solid two minutes before couple number two was slated to begin their tour of MY apartment.
Less than twenty-four hours after they finished my credit check and processed my app, I got the earth-shatteringly great news that I had been approved for the lease! OMG. Talk about taking a big bite out of the apple! Jen got herself a terrace in the sky! Yay!!
I can’t wait to get settled in my new digs. I’m already picturing myself, sunnies in place, taking calls from the terrace in June, laptop perched on the new outdoor table, admiring the view of New York City. And all I’ll be thinking is location, location, location!
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