Let me rephrase the question - I've found a great studio apt for $100 a night on craigslist.com (New York)..

Question

was wondering whether to go ahead with it or not...? It kinda sounds too good to be true to me. its located in the midtown west area. I don't know anything about the rental prices in NYC. Some help would be great.

Answer 1

That's $3,000 a month - that's high for a studio apartment. What are the amenities? Does it have a large balcony? A view? A swimming pool in the building?

A hotel has maid service and room service.

Also, some of the streets that are very far west are not even safe - Hell's Kitchen - some of those walkups are fire traps. Can you post the block or address here?

Answer 2

I'm confused as to why it's listed as "$100 a night" (or maybe that's just how you're putting it) $3000/month is very expensive and based on that, it certainly doesn't sound too good to be true. That's an average rent in Manhattan. BUT, that place better be in a luxury building considering it's a studio. Hopefully it's more than just one room with a bathroom. Some studios can be pretty big and have things like mini gourmet kitchens, hardwood floors, separate bedroom, etc., especially in Manhattan. It's still not impossible to find a one-bedroom in Manhattan for that price and sometimes even less.

If you're trying to rent this place, just remember that in NYC, if you don't have a guarantor signing the lease with you, they may demand that you make 40-60 times the monthly rent per year. If they are asking for that, you'd need to be making between 120-180K/year. Many people I know cannot rent apartments because of the 'income regulations' like that. They end up having to get their parents involved with signing the lease.

Also, if this is a sublet apartment, be VERY WARY. Many are being illegally subletted buy the people living there and you may pay the money, just to be thrown out by the landlord a week later. Sublets are legal in the city but the landlord must know about it and you need to sign a sublet lease. Lots of people get ripped off by getting involved with illegal sublets.

Answer 3

You might want to change your mind about where you want to live in NYC.

Think about these things:

Can you afford $3000/month? If so, you can get a very nice, luxury 1bd apartment on the Upper East Side for that price. If it's too much, even $2000/mo can get you a nice studio or 1bd in a nice part of town.

If your budget is really less than that, you should check out the outer boroughs, or way uptown Manhattan. Park Slope, Brooklyn is probably your best bet for a nice, Manhattan like neighborhood that is still (somewhat) affordable.

As always, be skeptical of everything on craigslist. If it sounds too good to be true, it probably is. If you can afford it, hire a professional real estate broker. If you can't, be ready to look (or not look) at a lot of apartments that won't be the right fit.

Good luck and happy hunting!

Answer 4

As far as rental prices in new york,grab an apt rental guide,they are usualy at 7-11, on your way to see the apt,and check the going rents.Dont waste time,if it is good,it will be gone fast. Always bring one or two friends with you,especialy if your a woman. If your friend happens to be suave in rental regulations and leases,or such ,the better.DONT WASTE TIME,OR LET YOURSELF BE TAKEN.
I have done alot of bussiness from craigslist,all was satisfactory. Its an awesome site. But there are people out there who will use anything they can to exploit vulnerable people. be careful,be cautious,and use craigslist wisely.....it can save you ,or make you lots of money at no cost to you.
i love it. HAPPY CRAIGSLISTING!

Answer 5

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Answer 6

I am not familiar with that particular neighborhood, however I do know that $100 per night is a deal in NYC, that is if there are no rats, roaches or hoodlums around.

Answer 7

There is absolutely nothing available within 200 miles of NYC that cheap... Sounds like a scam to me.

Answer 8

Whats the Sq. Ft. 2?

Answer 9

sounds great , and a month there is only $3,000 but view the place in person before making final judgement because it may be smaller than you think. good luck though, and be safe. (new york is known for crime rate)

Answer 10

Check it out first before you sign anything. Criagslist is great, but if you're only spending a few nights there, it's not worth it.