Even as Astoria becomes increasingly desirable for renters and buyers alike, you can still get an incredible deal if you know what to look for. The laws of supply and demand are not always the rule in Astoria.
Mostly in the last 2 years, flocks of Manhattanites fleeing the city for cheaper rents and more space have been migrating to Astoria. Word of it’s great deals on apartments, lower cost of living, great restaurants, and more has spread in a big way. This being said, as the droves of people move to Astoria, rents have edged up and have made a significant jump since just last summer. With the average one bedroom renting for $1350 and sometimes upwards to $2000, you can consider yourself very lucky to find something decent for under $1300. Supply and demand right? More people want apartments so there is less vacancies hence driving up the rents. So how does one explain new Astoria resident Nicole Albini finding a spacious and clean true 1 bedroom apartment for only $1000 per month (even includes heat, hot water and cooking gas)? Well, Nicole simply saw a great deal and upon her broker’s suggestion and some common sense she took it on the spot. Keep in mind all this happened during the rental markets busiest season which is August and September. It doesn’t make sense does it? Yes, it does! To understand Astoria’s Real Estate market you need to realize that many if not most of the rentals in Astoria are in multi-family houses in which the owner usually occupies one of the apartments. In large apartment buildings you almost always have to deal with management companies who make a living off a percentage of the rent roll for the building. So it makes sense that they would want the rents higher. In the multi-family house situation you almost always meet the landlord when you view the apartment. Their main concern is getting a good tenant and they would like them to stay for a while (they usually stay longer than in the buildings which eliminates vacancies). They are not as concerned about the rent they are getting if they like the person they rent to so they are often flexible with the terms. In my opinion these landlords have more of a conscience than management companies of large properties. They tend to bond with the tenant more often than not.
In Nicole’s case the landlords Vito and Maria were not greedy people in any way. They know rents have gone up in Astoria. They listed the place at $1000 from the beginning and they were willing to wait for the right person but they didn’t have to and were not in a rush. The day the previous tenant moved out Nicole saw the apartment and took it on the spot. She would have been crazy not to. Vito and Maria even gave Nicole use of the back yard and a stunning patio that makes you feel like you are living nowhere near NYC or any borough for that matter. It paid for Nicole to go through a broker. If you added the fee in to what she’ll pay over the cost of a year the rents only the equivalent to $1100 per year. Still a steal.
Nicole has a load off her shoulders after having to move out of her sublet in Sty Town, NYC and Maria and Vito are happy to have someone who appreciates their home…just look at the pics.
{ 2 comments… read them below or add one }
okay ive been looking for an one bedroom apartment in astoria/ sunnyside/ woodside/ jackson heights. its been over a month and i cudnt find any. i even paid this company who provides u with a list of numbers. but those are spams i guess. becos they never answers any calls. can any1 help!
Shabnam, I have never heard any good things about apartment registration services. My suggestion is to find a broker you trust and look through him or her to find something that suits you. When looking by owner you will have to compete with everyone and then some. Landlords will always go with highest credit scores and highest income so your chances of going that route and being successful are slim. Go with a broker…it’s your best bet. If you want you can email me exactly what you are looking for…price range, size, pet friendly, how many people etc…and I’ll respond with any info I may have to help you.
PH