Is $3.5k for 1br in a luxury building in Manhattan generally considered reasonable? Moved to the city during covid with 3 month free on my original lease so trying to make sense of what the usual rate is…

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Yeah it’s a fairly standard rate

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OP, sounds about right. The 1BR in our apartment complex is priced about the same with 2 months free. Likely no on-site washer dryer though.

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3.5 net in Tribeca.

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What neighborhood? I’m currently considering a 3 bed 2 bath with River views in a prewar elevator building with no laundry in unit for $3,800 in Washington Heights.

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Lots of house poor people out there! I’m definitely not envious

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Depending on the neighborhood and amenities, yes but at that rate, you might as well buy a condo and pay that towards a mortgage.

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Other downside is the opportunity cost of dropping $100k+ into the purchase. If you are long and diversified might make sense to buy.

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North of Hell’s Kitchen with W/D in unit, gym and pool in the building and concierge

Just tacking on a question/am new to NYC, are people expecting their covid prices to go up a lot next year? Currently apt searching and worried that if I sign into something on the pricier end of my budget it will likely be out of reach next year if they increase...not that moving again is totally out of question 🤠

Well that’s what I’m experiencing now, got 3 months free on my initial covid lease so my rent’s gone up from 2.9k to 3.5k

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That seems about right. I was paying 3.6K gross in fidi before covid. Net was about 3.3k

Roughly right range for Manhattan but depends on the building and unit

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