NYC Apartments
I’ve been saying for a while rents need to catch up with purchase prices. New York City is no different. Landlords can’t afford to “rent” buildings when they are losing money each month. Surfing the web the other day I found a real estate company in New York City, Mark David & Company. Figure Manhattan Apartment Rentals would be the priciest out there.
So I searched for NYC apartments on the Mark David & Company web site. They have a nice click-able map and easy feature listing to help you find an apartment. Seems you can drop almost $20,000 a month pretty easily on the upper east side, but it looks like $5000 is about the cost of a 2 bedroom rent.
NYC apartment rentals are bound to go up from where they are today, how can you pay $1,000,000 for an apartment, $2000 for common charges, and taxes of $800 and rent it for very long if you are getting $5000 for rent, even $10,000 a month would make me uneasy that I’d actually turn a profit.
