Are luxury buildings negotiating right now? For example- gross rent is $5320 and with a few months free it’s a net of $4190. Will the building accept an offer for net rent of $3500 or will they tell me to kick rocks. It’s a luxury building in Hell’s Kitchen.

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I think at this point with vaccine distribution doing pretty well in NYC, time isn’t on your side. Push if you want, but don’t drag it out or you may miss your window.

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I agree- that’s why I wanted to get others experiences

So basically asking for 4 months free? That might be a bit on the aggressive end but I guess it depends on how bad they are hurting

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I negotiated less and one of them didn’t budge, but a friend negotiated net down around $500 and they’re still going back and forth. So just ask but don’t get your hopes up

Thanks for these perspectives!

It also really depends on the specific building and management. I had a friend who was living at the Instrata Nomad and his lease came up and he asked for the net price they were advertising for apartments on his line on similar but higher floors (about $1k less than his renewal price) and they just refused to negotiate at all.

He’s at another luxury building now for $1500 less than his renewal price at Instrata

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My gross is 2300, net offered was ~1900. I tried to negotiate and was basically told I have no shot. I accepted the 1900 and one month later the next on similar units is 2150.

What did they say exactly regarding you having “no shot”?

NYTimes article recently on this, had a bunch of building examples. One had 7.5k down to 4.5k, which seems crazy to me but maybe works for you

A friend is trying to move here to the USQ/ gramercy area and there were bidding wars. Hell’s Kitchen might be different though so good luck

I had trouble getting 4 off 18 in January. I think you can try for something less than that but shouldn’t go too hardball unless you have a direct comp. I had one but they were only willing to match it, not exceed it (so we landed on 3mo free with some moving bonuses that made it 3.7mo off, net)

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