The financial district (fidi) which is one of our specialty areas has a number of buildings once again offering two months free rent when signing a 14 month lease.  Buildings such as 2 Gold which briefly stopped paying broker commissions this summer are also once again compensating brokers for bringing tenants to their building.

In other parts of the city there are a number of great deals still to be had in Midtown West and the Upper West Side.  Many of these buildings weren’t offering any incentives this summer but due to the slower season are now offering 1 month free rent or at a minimum paying brokers commission for tenants.

If you are looking for a new apartment in a doorman highrise building please give us a call at 917-414-7880 we will guide you to the best apartment fit saving you time and money on your apartment search.

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www.Newyorknofeeapartments.com

I tend to agree with this article, rents starting to creep back up and rent incentives going away. The financial district which had major incentives over the last two years is even starting to scale back. 2 Gold Street one of the luxury no fee buildings downtown recently stated that as of May 1 2010 they are planning to end their 1 month free promotion in the building. Last summer nearly all the buildings were offering 2 months free rent and had a lot of availability in their new tower. Now they are close to fully occupied and the few apartments available move very quickly.

200 Water Street is still providing 2 months free rent on a 14 month lease. I expect this building to be fully leased up by the end of the busy summer season.

I would recommend anyone who is looking to move to try to lock in something good this summer as buildings fill up and the economy improves this may be the last summer to take advantage of these incentives for a few years.

If you or anyone you know is looking for a no fee apartment please contact us at 917-414-7880

Article Link:

http://www.nytimes.com/2010/04/25/realestate/25cov.html?partner=rss&emc=rss

In addition to the actual drop in rent there are many other factors to consider when looking at overall rental prices. First, with the down economy there has been an increase in no fee apartment listings. This can accounting for a 12-15% savings to the tenant by not having to pay a brokerage fee for an apartment.

Additionally, many landlords have been offering between 1 month free and 2 months free rent on their apartments instead of dropping the price of the rent. The Financial District, (Fidi) has been one of the best areas to secure free rent. A majority of the buildings let by those owned by Rockrose and TF Cornerstone, primarilly 2 Gold Street, 200 Water St, and 45 Wall Street are offering 2 months free rent at nearly all of their downtown buildings along with no fee apartments. Other buildings such as 37 Wall, 63 and 67 Wall (The Crest), 95 Wall and mostly followed suit with similar incentives.

Other neighborhoods that have seen bargains have been Midtown, The East Village and the Lower East Side.

The Upper West Side is a neighborhood we have seen an increase in no fee buildings over the last year or two. There are typically 15-30 available no fee apartments in the Upper West Side depending on your price point at any given time.

You can check out the article on Curbed at http://curbed.com/archives/2010/01/04/rent_too_high_09_manhattan_rental_report_has_the_answer.php

For information on finding no fee apartments and free rental incentives throughout Manhattan please contact us at info@newyorknofeeapartments.com or fill out our form below.

Newly Renovated Building Features: Gym, Amazing Roof Deck with view of East River, Brooklyn Bridge, Manhattan Bridge. Located Steps from the Fulton Street Subway Station A,C,E, 2,3 J,M,Z 4,5 Trains

Two Grocery Stores within 2 blocks. Lots of Shops and Restaurants. Southstreet Seaport is two blocks away.

Located on Water Street Steps from the south street seaport,

Best No Fee Apartment Rooftop View in Downtown Manhattan

First, 200 Water Street has some of the largest studio apartments in Manhattans Financial District. I showed a Studio over 500 square feet for under $2000 net effective rent.

What really sets 200 Water Street apart is their affordable convertable three bedroom shares. I’ve written before about how great 2 Gold Street’s layout is for conversion. 200 Water Street has similarly large apartments that are great for conversions or shares with more availability and at a lower price.

200 Water Street has 3 bedroom converted apartments for as low as $1150 per person. There are two specific layouts that have spectacular views of the East River, Brooklyn and Manhattan Bridges.

When converting these apartments you will utilize a company that will install a pressurized wall. There are 2-3 approved contractors per building that are allowed to install the wall. The cost for the wall typically runs between 700 and 1200 dollars depending on the size. Additionally the building typically charges $300 fee for the permission to install the wall.

Inventory is constantly changing. Please contact us for the latest updates and availability for this or any no fee apartment building in Manhattan or New York City.

Best 3 bedroom Converted Apartments

200 Water Street:

There are two different 3 bedroom two bathroom layouts.  The Cheapest one is just barely over $3300 Net Effective Rent meaning 3 roommates can split an apartment for about $1100 each.

There are also layouts with a GREAT VIEW of the East River for $3600 net effective rent or $1300 each.  These units are just over $1000 square feet and feature oversized rooms with plenty of closet space.

All rooms have windows and heating/ac units and the converted room has plenty of closet space just outside of the room.

Cheapest Conversion in the financial district under $1000 dollars Each Person:

The Crest currently has 3 bedroom converted apartments for as low as $2750 Net Effective Rent after 3 months free on an 18 month lease.  These are smaller units and one bedroom has no window however a share right on Wall Street for less than $1000 per person is still a great deal for a luxury building with free gym, lounge and a nice rooftop.

For more information or to set up a showing for any of these apartments please call 917-414-7880 and fill out the contact form below.

Things have calmed down a bit and although their is still availability I have found the prices have risen slightly.  The average 1br apartment is now renting for around $2620 Net Effective Rent rather than $2500 earlier this summer.

200 Water Street is now continuing its very aggressive offers.  They have Studio, One Bedrooms, Two Bedrooms, and Three Bedroom apartments available.  All except their loft units are very good for shares.  The net effective rent for a share can be as low as $1100 per person

For more information on available apartments in the financial district at these or any other buildings please contact me below.