Jimmy McMillan might be on to something: a real estate research firm has noticed that more New Yorkers are trying to buy apartments -- because the rent is too damn high.
As it turns out, the perfect storm of inflated rents and low interest rates has pushed would-be renters into the market, according to DNAinfo.
Many home-seekers have complained that their rents have ballooned anywhere from 10 to 20 percent, so they see purchasing as the only economic option.More »
Most New Yorkers are pretty O.K. about renting things, at least when it comes to our living spaces. As for those living spaces, we're pretty resigned to them being on the small side -- so small that we might have to rent additional storage space for, say, our skis or summer wardrobes or collection of whatever it is we happen to collect. But would you prefer to just rent that stuff in the first place? RentStuff.com, founded by 29-year-old twin brothers Chris and Robert Jaeger, thinks you would. Chris Jaeger describes the site as "a eBay for rentals, or an enhanced Craigslist for the rental marketplace." There's a social component, too, a/k/a, "eBay meets Facebook for the rental market."
Just one of the items you might rent on RentStuff.com.
Jaeger lived in New York City for 6 years and says the idea for the site came from his own frustrations about living in the city, in a small apartment shared with four roommates. He says, "I'm an avid outdoorsman, and I wanted to rent equipment for a mountain bike trip. The process of finding a bike was one of more frustrating experiences I've had -- I had to leave work early on a Friday, go across the city to get it, and then I had to do the same to get it back. I realized that the bike I wanted was probably in my own building, and if I could just connect with people in my community, this would all be so much easier."More »
According to NYC Public Advocate Bill de Blasio's Worst Landlords Watch List, Manhattan's worst-run buildings are mostly in Harlem, Washington Heights, and Inwood. Forty five of the 56 Manhattan buildings on the list are in those areas. Four of the lowest performing five are in Harlem and one is in Washington Heights. Each of those has over 240 violations. The top five worst landlords are:
That right there is the most expensive rental in New York, clocking in at a staggering $165,000 a month. The Astor Suite went on the market today and has three bedrooms, five bathrooms, a dining room, a library and an eat-in kitchen.More »
St. Mark's Bookshop and the surrounding community have been campaigning for landlord Cooper Union to lower the store's rent from $20,000 to $15,000 a month. The Cooper Square Committee yesterday delivered to Cooper Union a petition that accrued nearly 44,000 signatures, but it wasn't enough: the bookshop's rent will not be lowered.
St. Mark's Bookshop has fallen on hard times lately, inspiring a local campaign to pressure landlord Cooper Union to lower the rent from $20,000/month to a more manageable $15,000. Otherwise, the store might have to close.
According to a letter from the Cooper Square Committee, today is the day that Cooper Union's board will decide whether or not to lower the rent -- essentially deciding the fate of the bookshop.More »
Local institution St. Mark's Bookshop is in danger of closing, and the Cooper Square Committee, a neighborhood group, has started a petition to try to save the independent bookstore. Rising rents and decreasing revenue have put the bookshop's future in jeopardy as the owners attempt to negotiate with their landlord, Cooper Union.
St. Mark's Bookshop moved to its current location at the ground floor of the Cooper Union residence building on Third Avenue and 9th Street around 18 years ago. Co-owner Bob Contant says that Cooper Union offered a 20 percent reduction on the rent in order to entice the bookshop to be its commercial tenant (the store was originally located around the corner on St. Mark's Place). This has come back to haunt St. Mark's Bookshop recently, as a little over two years ago Cooper Union raised the store's rent to $20,000 a month.More »
According to a new report from Citi Habitats, your chances of finding and renting an apartment in the city, always a tremendous pain unless you are very, very lucky, or very, very rich, have gone up a bit. That is to say, it's not quite so difficult because the vacancy rate has increased...to 1 percent. This, though it may not sound like much, is actually the highest vacancy rate in 6 months, and, Gary Malin, president of Citi Habitats, says, a correction to "brutal" conditions earlier this summer. Rents for studios and one bedrooms went up slightly, while rents on larger places went down a bit.
Shares of movie rental giant Netflix fell 10% before the market opened on Friday. Share prices plunged $23.90 to $209.37 after news that customers would no longer be able to stream the Nic Cage fantasy adventure The Sorcerer's Apprentice. The film, in which Cage plays thousand-year-old sorcerer Balthazar Blake, was a Walt Disney production. Starz Entertainment owns pay-cable rights to movies from Walt Disney Studios and they pulled out of a deal with Netflix to extend those rights to stream a multitude of films, most notably The Sorcerer's Apprentice.
Nic Cage as Balthazar Blake