Update: Live-In Landlord Opportunity in NYC
August 19, 2010 by Rebecca
Whilst browsing Sotheby’s the other day, as I am wont to do, I came across a rental listing for a New York City building that I featured back in May.
The building, if you remember, was a rent-regulated 6-unit West Village building. Listed for $4.5 million, it’s now under contract, and the owners are already trying to rent out the garden studio apartment for $2,500. Seems a bit steep for a tiny, dark apartment, but then again it’s been a while since I’ve dealt with astronomical NYC prices.
I wonder if the new owners will occupy the “Owner’s South Garden Duplex,” which looked nice based on the floor plans.
Word to the wise: it’s smart to start marketing your rental property ASAP, even if you’re still in escrow. Don’t get yourself into trouble by signing contracts, but it can’t hurt to start screening tenants. Everything takes longer than you think, so start making your money from Day 1!
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