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I like the studio a lot and will also be paying a broker fee. Do you think it’s worth it? Any suggestions or pitfalls I should be aware of? Thanks fam 🙏
Co-ops, especially in Manhattan, have a lot of hidden fees - make sure there aren’t surprise fees that aren’t included in the rent.
You’ll have to deal with the interview process/co-op board and there may also be some weird building rules that you have to follow.
As with any rental in NYC, read the fine print.
That’s A1. Ive asked the broker on insurance, 2 year limit and other fees right away. Love the studio but am kinda hesitant to make the move for princely the reason you’ve mentioned.
I only have experience buying (not renting) a co-op unit, but my understanding was that hidden fees are for the buyer, not a renter. Interviews would also usually be for the buyer. I would check with the person who listed the unit if those things apply to you, as a prospective renter.
Ended up renting in a coop building in lower manhattan. Broker fee was standard but the application process took nearly a month and was significantly more thorough than an apartment building.