Rental of the Day: 114 Dean Street
This duplex, two-bedroom Boerum Hill rental at 114 Dean Street looks like a suitable spot for a family. Throw in the home office, big kitchen, and rather lovely backyard and it makes a nice package. $5,500 a month for 2,500 square feet of space also seems in line with area prices. Thoughts? 114 Dean Street…
This duplex, two-bedroom Boerum Hill rental at 114 Dean Street looks like a suitable spot for a family. Throw in the home office, big kitchen, and rather lovely backyard and it makes a nice package. $5,500 a month for 2,500 square feet of space also seems in line with area prices. Thoughts?
114 Dean Street [Halstead] GMAP P*Shark
> Ah, but when I bring up the time-honored ’10x annual rent’ mean/average
The difference is, the “time-honored ’40x monthly rent’ equation” is one that is actually used. Today. In this actual time and place.
Your time-honored number is a fiction. Something that either has not existed for a very long time, or never did exist in NYC.
for the record, brownstones-half-off guy is right. If you line your hat with tin foil they can’t program you.
***Bitter hack off his meds***
LOL
I disagree.
Trust me Nomi… most wealth (most, not all) has very little to do with abilty and a lot more to do with luck and opportunity — and massive inflation of compensation after a certain threshold… again, completely divorced from anything like rational valuation.
“by BHO’s math (10xrent) the house is worth about 1.3 million…this house would probably sell for closer to 2 Million” – Bklnite
So, another 35% down to bottom. That’s gonna hurt.
“time-honored ’40x monthly rent’ equation” – DitmasSnark
Ah, but when I bring up the time-honored ’10x annual rent’ mean/average for sustainable prices it’s, “La la la…I’m not listening to you!”. Uh huh. Renting is cash only and directly inline with incomes, not the propped up Ponzi mortgage machine, bailouts and Wall St fee skimming that our house-of-cards economy is temporarily supported by. Look out below!
***Bid half off peak comps***
I don’t get how rich people get so rich if they are so stupid.
but more4less,
quote:
but to eye the big ASK in these richie rich hoods is really not that relevant. what’s more valid is the crazy ass ASK in the fringe/regular hoods (bushwick, bed stuy, crown height, …).
but the reason those neighborhoods that used to be cheap are so expensive now is cuz the prices in the “nicer” neighborhoods are SO EXTREMELEY insane. it’s like ice cream and stuff.
you can also blame the government for absurdly high section 8 vouchers. they are willing to pay 1300 dollars for a 2 bedroom.. so of course landlords in the bronx are gonna jump all over that program cuz they are guaranteed 1300 dollars a month. why would they let the market decide? they’d never get 1300 dollars.
which seriously, SHOULD be well over market rate. why is the government paying over market rate for these vouchers? it’s the government and really stupid rich people who are the cause of this insanity.
*rob*
tybur6, rents and purchase prices in more regular hoods are a ton more reasonable for the regular joes. these richie rich hoods are really not for regular joes to go shopping at. NYC is expensive and real estate is among the most expensive item one spends on here. but to eye the big ASK in these richie rich hoods is really not that relevant. what’s more valid is the crazy ass ASK in the fringe/regular hoods (bushwick, bed stuy, crown height, …). The folks with lots of money can afford to decide to over-spend. I think it’s regular Joe’s who decide to over-spend that’s really the problem – ie they aint bidding against richie rich folks in jacking up rents and sales price in those hoods (they bidding against themselves)
Ooo, I never said “run of the mill ‘middle class family,'” tybur6.
But I do not think that someone willing to pay $5500 per month for this apartment is “absolutely stupid.” Nor do I think that people who make good money and spend it on rent or anything else have a direct and negative effect on people making less. No….I am not a socialist.