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  • Features

    Time Out New York / Issue 656 : Apr 23–29, 2008

    Apartments ’08

    Illustration: Neil Webb

    Rent now! Buy now! Sell now! Move here! Every year we do an Apartments issue, and every year we offer clear, exclamatory advice! But this year, with the economy all f’d up, straightforward answers just aren’t coming. Should you buy now? Prices are dropping. But will they drop further? Maybe. And if they keep dropping, is it worth the investment, or will you get screwed? Ummm… And how come rents aren’t coming down faster? Even the experts are confused.

    Yet in the following articles, we explain how to make the madness work for you. Start by taking advantage of developers: Their hubris is turning condos into semiaffordable, chichi rentals. And despite Manhattan’s seemingly unburstable sales bubble, some spots are seeing prices drop. In addition, we highlight four up-and-coming ’hoods to get into now, and offer tips on how to tell if you’ve found a gem—by bringing experts with us to inspect for bugs, good plumbing and design potential.

    We also talk to New Yorkers who dwell in eyebrow-raising areas and quiz them about the ups and downs. And finally—because whatever our own living situation, we always want to look at other people’s—we peeped into four identical apartments in one Manhattan building to see how the residents personalized a standard studio floor plan. Take notes, and don’t worry. With our help, you’ll find your own place soon.

    The place to be: Where to move next? We crunch the numbers—considering culture, character and commute—and spotlight the four hottest ’hoods.
    You live where?: Stop with the double takes: Living in a far-flung neighborhood has its perks.
    The new switcheroo: Some NYC developers are converting their newly built condos to rentals. Does that mean low-budget coveters of the high-end finally have a way in?
    No good buys: The economy’s tanking, which means sellers are desperate and you can cash in on opportunities. Right? Right?!?
    How to be the perfect candidate: Tips for renters and wanna-be co-op buyers.
    The TONY team: With the rental market so competitive, wouldn’t it be helpful if you could take along a team of experts to point out the flaws or help you spot a diamond in the rough? We thought so.
    Four on the floor: We invaded a quartet of alcove studios in Chelsea complex London Terrace Gardens and compared—who uses what how?
    NYC Real Estate 101: Survival tips for the savage home-hunting process.




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