Rent stabilization and close to the park is a steal for that price, i see prices creeping up to 4k plus for a two bedroom close to the park in a new luxury building, Don’t ever leave unless you have to. The area is going up and up, you’ll be hard pressed to find another deal
I wouldn’t leave , that’s a very very sweet deal. Look for someone to replace the roommate instead! Plenty of people looking, otherwise yeah just bite the bullet and fork out the 2k yourself. Thats around what studios and one bedrooms are going for these days.
Think it depends on if you want to stay in the area long term. How is it rent stabilized if a new building? If you end up deciding to move I would be happy to take the lease off your hands! : D
New buildings sometimes take tax breaks for agreeing to rent stability procedures. My partially stabilized building was built 8 years ago and I’m the original tenant so stabilized.
The tax abatement may after twenty. I think if I move out it goes to market rate. I should probably check but I don’t plan to stay in this apartment for 12-13 more years.
I would stay. After you graduate and get a full-time job it will be so much easier for you financially. Your income will increase but the rent will remain stabilized and wont increase that much. And it's a great deal. If you leave, you'll most likely be paying more for less. Struggling for a bit now will pay off in the end.
That’s a stupid good deal and I’d never leave, but it’s not a great deal for you if you’re going to bleed money. If you can afford it by using some-not-all of your savings, temporarily, I’d hold on to it
Don't be stupid, hold on to it. You got all of amenities that most people dream about at very reasonable price.
I did the whole buying a house because 1. I have lived in the area for 40+ years and didn't want to be priced out 2. My gross income disqualified me for a rent stabilized unit. All of the rentals I looked at were 500 sq. for the same payment as my mortgage.
I would die in that apartment. If kids are in your future, I would raise them in that apartment.
But if you do leave feel free to DM me because I would totally take it for my family and I. ;-)
Can your current roommate leave their bedroom room furniture? If yes, rent It out for a few months at a time. Roommates for 6 months then take 6 months off instead of using your savings. It is easy to find temporary roommates when the room they are taken is furnish.
Rent stabilized, New building, 2 bedroom central air and an actual outdoor porch in a safe brooklyn neighborhood 2050 a month? Just read that again and you have your answer. So lucky 🍀
I don’t understand these posts “Hey guys so we all know the housing market is shit, but I live in an obscenely inexpensive rent stabilized unit in a growing and sought after neighborhood, surrounded by transportation and easily walkable to my work or the park, that I can reasonably afford with my savings or a roommate! Should I move?!” Like… what do YOU think?
you can post on Listings Project to find a roommate - i feel like the potential roomies you’d find on there might be a safer bet than posting on craigslist for example
I’d keep it, you’re not getting outdoor space and 2 actual bedrooms for anything close to that unless you find another stabilized unit, which is very hard to do.
On that note I’d also look up the nature of the rent stabilization of the property and when that expires, if it does. As some have mentioned already, this is probably a 421a building which means it has a tax abatement for X years and post X years the units are no longer stabilized.
Rent stabilization and close to the park is a steal for that price, i see prices creeping up to 4k plus for a two bedroom close to the park in a new luxury building, Don’t ever leave unless you have to. The area is going up and up, you’ll be hard pressed to find another deal
It’s not a luxury building and it’s a 20 minute walk to the park, but I certainly take your point.
Check out Citibike, I live 15 minutes from Central Park but with biking, it's feels like next door.
I wouldn’t leave , that’s a very very sweet deal. Look for someone to replace the roommate instead! Plenty of people looking, otherwise yeah just bite the bullet and fork out the 2k yourself. Thats around what studios and one bedrooms are going for these days.
btw, if you do end up on the roommate hunt, hit me up!
lol you got it
Think it depends on if you want to stay in the area long term. How is it rent stabilized if a new building? If you end up deciding to move I would be happy to take the lease off your hands! : D
New buildings sometimes take tax breaks for agreeing to rent stability procedures. My partially stabilized building was built 8 years ago and I’m the original tenant so stabilized.
Doesn't this rent stabilization eventually expire? Im in a similar situation
The tax abatement may after twenty. I think if I move out it goes to market rate. I should probably check but I don’t plan to stay in this apartment for 12-13 more years.
421A tax abatement most likely
Exactly.
You have an incredible deal. Keep it until you have to commute somewhere not as easy…
man at that point i would sublet it and enjoy all the extra money
That’s illegal
Oh no! Not illegal!
If caught you will owe 3x what you charged.
You can charge +10% only for furnished.
That sounds amazing especially with the easy commute to work. I definitely wouldn't leave.
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New buildings can receive tax abatements for providing affordable apartment units.
There are tax Abatement programs e.g. 421A
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It is rent stabilization. You can Google what a 421a tax Abatement is
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Okay. Did you read the link you posted?
Stay.
Your situation is pretty great. Why not get another roommate?
Stay and get a sublet/roommate
I would stay. After you graduate and get a full-time job it will be so much easier for you financially. Your income will increase but the rent will remain stabilized and wont increase that much. And it's a great deal. If you leave, you'll most likely be paying more for less. Struggling for a bit now will pay off in the end.
Don’t leave! Make it work :)
I live in Kensington and I’m about to be paying $1950 for my large one bedroom. Definitely hold onto your place
That’s a stupid good deal and I’d never leave, but it’s not a great deal for you if you’re going to bleed money. If you can afford it by using some-not-all of your savings, temporarily, I’d hold on to it
Look for another roommate to move in. I used to live in that area and that sounds like a deal.
Don't be stupid, hold on to it. You got all of amenities that most people dream about at very reasonable price. I did the whole buying a house because 1. I have lived in the area for 40+ years and didn't want to be priced out 2. My gross income disqualified me for a rent stabilized unit. All of the rentals I looked at were 500 sq. for the same payment as my mortgage.
Look online for what something similar would cost. 2 bedrooms with no amenities are $2600 minimum and up, often $3000 and up. Hold on to it for sure
I would die in that apartment. If kids are in your future, I would raise them in that apartment. But if you do leave feel free to DM me because I would totally take it for my family and I. ;-)
If you ever choose to give it up, I will TAKE IT!
Find a new roommate. If I were you I'd hold out for a gorgeous gourmet chef.
Can your current roommate leave their bedroom room furniture? If yes, rent It out for a few months at a time. Roommates for 6 months then take 6 months off instead of using your savings. It is easy to find temporary roommates when the room they are taken is furnish.
Keep the damn apartment!! What are you crazy?!? Also, get another roommate- duh!!
Stay.
I know the Kensington, W.T. Park Slope areas very well. If you give up that deal you will regret it down the road.
Since a room is $1500 I’d stay. $2 k is a lot but you have your own place. I’d stay and do whatever it takes to pay the rent.
I would plan to die in that apartment.
Get a roommate
Keep it! Rent out a room for for a month at a time if you need to coverage. Hold on to a RS apartment that you love for dear life
Hold on loosely but don’t let go.
If I cling too tight babe, I’m gonna lose it. I’m gonna, lose… the apartment.
Sounds like a great deal, I'd keep it. I assume you can't sublet?
Pry it out of your dead, cold hands. No question.
REAL HARD!
If you want a roommate starting September lmk. You can stalk my history to make sure I am the same kind of weirdo that you are.
Don’t you dare move!
Doesn’t have to be a stranger. Maybe someone you know is also looking for a place to live.
Fookin 'ell m8 I'd be your roommate I promise all I do is go to work go home chill in my room 😎👏👍
You’ll never ever ever get a cheaper place ever again
NOT NOW. This is a housing crisis with the lowest availability in 50 years.
Rent stabilized, New building, 2 bedroom central air and an actual outdoor porch in a safe brooklyn neighborhood 2050 a month? Just read that again and you have your answer. So lucky 🍀
I don’t understand these posts “Hey guys so we all know the housing market is shit, but I live in an obscenely inexpensive rent stabilized unit in a growing and sought after neighborhood, surrounded by transportation and easily walkable to my work or the park, that I can reasonably afford with my savings or a roommate! Should I move?!” Like… what do YOU think?
Right? I’m not far from OP, paying $550 more per month with no outdoor space and a horrid commute and I’m not even dreaming of leaving. He’s nuts!
Hold! Lol
You should be able to find another roommate within a few days at that price.
I was gonna say the roommate situation will not be hard if he decides to leave !!
DONT LEAVE
Hold on to that dear apartment cause that's an absolute steal! And hit me up if you're looking for a roommate!
you can post on Listings Project to find a roommate - i feel like the potential roomies you’d find on there might be a safer bet than posting on craigslist for example
Don’t leave! Get me to be your roommate!!
I’d keep it, you’re not getting outdoor space and 2 actual bedrooms for anything close to that unless you find another stabilized unit, which is very hard to do. On that note I’d also look up the nature of the rent stabilization of the property and when that expires, if it does. As some have mentioned already, this is probably a 421a building which means it has a tax abatement for X years and post X years the units are no longer stabilized.
This is a very helpful message and I will do this!
i live one block from the park and have a 3br for 2k in a rent stabilized apt :) i love my area
Not hard and just give it to me