Platinum Properties agents have all the secrets when it comes to getting the best deals on New York City real estate.
Platinum agents are all about providing great customer service for our clients, but sometimes they benefit from the market, too! The coronavirus pandemic certainly changed the New York City real estate market. However, a few agents were able to upgrade their apartments mid-pandemic, taking advantage of record low prices and great deals on concessions.
Upper West Side Upgrade
After living with three roommates in the Upper West Side, this Platinum Properties agent decided it was time to get his own place!
Originally on West 81st Street between Amsterdam and Columbus in a fourth-floor walkup with no laundry, low prices and coronavirus concessions allowed this agent to upgrade.
He originally paid $4,195 for a three-bedroom, one-bathroom apartment with two other roommates ($1,400 each). He says (sarcastically) that the best thing about his old apartment was the fire exit by his window. Like many New York City apartments, this agent’s old residence had a small living room space and no amenities.
This agent now lives in an amazing studio apartment on West 71st Street in an elevator building complete with all of the amenities one hopes for in New York – a 24-hour doorman, laundry onsite, right next to subway and bus lines.
While his rent went up 28 percent, he is getting his own space with multiple amenities that he did not have before. This apartment previously rented for $2,350 in 2018 but the monthly rate was reduced due to the coronavirus pandemic – that’s a 23 percent drop in price, what a deal!.
Upgrade from Brooklyn to Manhattan
This agent originally lived in Bay Ridge, Brooklyn, choosing space and newer finishes for cheaper rent compared to Manhattan at the time. It was a small, cute one-bedroom apartment, but had no amenities, no doorman, and was on a low floor. She paid $1,800 per month for this Bay Ridge apartment.
She doesn’t drive, so the commute from Brooklyn to Manhattan was almost an hour one-way (without delays). During the pandemic, her commute was taking much longer than normal and the hours on the subway added up.
She decided to move into New York City proper after deciding to be closer to work. It was a no-brainer for this agent to take advantage of lower prices and incentives and make the move to Manhattan!
Now, she lives in an alcove studio in the Financial District in a luxury building – and only pays $40 more per month than she was in Brooklyn. The unit has city and water views, great natural light and is in a full-service building including a doorman, laundry on her floor, a gym, rooftop deck and lounge. That’s just a 2% bump in monthly rent for a huge increase in lifestyle!
Added bonus: She’s just a five-minute walk from her office, and saves an average of $120 per month on her commute! The extra time she has now that she’s not sitting on the subway has positively impacted her business and social life!
There are still deals to be had in New York City! While prices are slowly rising back to pre-pandemic levels, a Platinum agent can help you find the best neighborhood or building for you to live in that works for your lifestyle and your wallet.
Thinking about upgrading your space? Send us a message so one of our agents can help you find your dream space and live the way you want to!
