This Lower East Side studio comes with outdoor space and a flatscreen TV. Should you snap it up?
Because this $2,600 Lower East Side studio is being offered from the current tenant as a lease takeover, there's no broker fee, or broker, to deal with. But you will have to cover a $150 fee to process your application with the building and perform credit check.
The apartment, situated on the second floor of a walk-up, is in the heart of the East Village on Stanton Street between Suffolk and Clinton. At around 425 square feet, the current tenant says in the listing that there's plenty of space for a queen-sized bed, a couch, and a coffee table. Thrown in, at no extra cost, is a 37-inch mounted LED flatscreen TV, a ladder bookshelf from Crate and Barrel, three bar stools, an A/C unit, and more.
The kitchen has stainless steel appliances, including a dishwasher.
So is it worth reaching out to the current tenant? For some more input, we asked our experts (and veteran renters), real estate research and analytics firm NeighborhoodX founder Constantine Valhouli and freelance writer Lambeth Hochwald, to weigh in with me on this week's Take It or Leave It.
Size: Studio
Location: 153-1/2 Stanton Street (between Clinton and Suffolk)
Monthly rent: $2,600, no broker's fee
Flexible layout: No
Days on the market: 12
Subway: J, M, Z, F at Delancey-Essex
Pros and cons:
"I love the fact that this apartment has classic details—like a decorative fireplace and an exposed brick wall, but also a modern kitchen with lots of stainless appliances. Plus, I imagine it would be a lot of fun to live on the Lower East Side amidst all the great restaurants, bars, and shops. And that shared outdoor space is really cute (not to mention a great way to meet neighbors). The biggest downside I see to this apartment is the price, which is high, but made less painful by the fact that you're saving around $3,000 on a broker's fee. But renter beware: The fact that this is a lease takeover means that the lease (and current price) may end in less than a year, and you may very well be faced with a rent increase at that point." —Lucy
"'The Lower East Side remains one of the most fascinating neighborhoods of Manhattan. The apartment is a second-floor walk-up (so no hauling groceries up multiple flights), and has the iconic exposed brick. It's difficult to tell from the listing whether it faces the courtyard (and thus is quieter) or the street. But, the studio apartment, while nicely renovated, is asking more than some nicely renovated one-bedrooms in the same area." —Constantine
"It's starting to be an ideal time for a backyard, so the timing of this ad for a studio with (shared) outdoor space couldn't be better. On the other hand, you'll be spending $2,600 to rent one room from an owner, albeit one with a pretty fab kitchen (love the subway tile backsplash)." —Lambeth
Who this apartment would be perfect for:
"A single person with a very good salary who loves going out and wants the adventure of living on the Lower East Side for a year or two. Also, someone who doesn't have a lot of furniture will appreciate the optional extras." —Lucy
"Someone who would like to be staggering distance from the bars, restaurants, bars, clubs, bars, cafes, and bars of the Lower East Side. This is an ideal location from which to experience NYC." —Constantine
"A recent college grad with a well-paying job who wants to fully immerse in late-nights on the Lower East Side (and doesn't mind the fact that the apartment comes with a flatscreen TV and a few pieces of furniture)." —Lambeth
The verdict(s):
TAKE IT "I know it's pricey, but I think living here could be a lot of fun. Take the flatscreen TV and feel like you've gotten a deal." —Lucy
TAKE IT "But ask for a price reduction." —Constantine
LEAVE IT "Unless you just can't start your day without an al fresco cup of coffee, keep searching. There are way better options out there for less." —Lambeth
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