A prospective tenant in Manhattan recently included her unemployment payments as financial ballast on her rental application. Instead of being mocked or disregarded, the application was accepted, according to Marc Lewis, whose Century 21 NY Metro represents the landlord.
Oh, my, how times have changed.
Anecdotes abound about ready-to-negotiate landlords and falling rents. Read More
Location: Have you ever seen a year quite like 2008?
Mr. Lewis: It’s sort of getting out of a hospital after you’ve had surgery: It’s horrible while you’re having it and then you forget how bad it is. I went through something similar to 2008 in 1976, 1987, 1990 and 2001. Read More
This much we know: In Manhattan, there is a growing supply of empty apartments that, due to a combination of overpricing, bad timing and lack of demand, cannot find tenants willing to sign the dotted line. This is unfamiliar territory for landlords, who have conducted business in an environment that, for the past several years, Read More